PRT - Transitions Manager

SmartRecruiters, Inc.; Greater London; Hybrid; GBP 80,000 - 110,000; Full time

Benefits offered by this job

Annual bonus plan

Life assurance

27 days holiday

Family leave

Electric car salary sacrifice

Discounts across products and stores

Net-zero carbon workplaces by 2030

Job summary

Legal & General’s Institutional Retirement unit seeks a Transitions Manager to lead the successful transition of Pension Risk Transfer business. You’ll work with trustees, advisers, administrators, brokers and internal teams to plan, manage and deliver schemes effectively.

This hybrid role emphasises ownership of transition plans, client outcomes and strong DB pension experience, with opportunities to shape data verification and post-transition reviews.

Qualifications

• A pension qualification such as CII or PMI, or equivalent experience.
• Experience in the Pension Risk Transfer market.
• Experience administering or onboarding defined benefit pension schemes.
• Strong knowledge of DB pension regulations, including wind-up requirements and interaction with PPF and FAS.
• Good understanding of buy-in, buy-out and wider pension de-risking activity.
• Strong project planning, prioritisation and delivery skills.
• Clear, confident communication skills with the ability to influence senior stakeholders.
• PRINCE2 Practitioner or equivalent project management experience would be beneficial, but is not essential.

Responsibilities

• Develop scheme-specific transition plans for a portfolio of PRT transactions.
• Manage end-to-end transition activity across timelines, risks and milestones.
• Collaborate with trustees, advisers, brokers and administrators to agree data and benefit verification.
• Support PRT Business Development activities, including tenders and site visits.
• Lead internal workstreams and coordinate with L&G teams to deliver transitions.
• Maintain accurate transition MI and provide updates to management.
• Complete post-transition reviews and close out schemes effectively.
• Share technical knowledge and help develop wider transition capability.

Skills

Pension qualification

Pension Risk Transfer experience

Defined benefit schemes knowledge

DB pension regulations knowledge

Buy-in / buy-out and de-risking

Project planning & delivery

Stakeholder influence & communication

PRINCE2 Practitioner (beneficial)

Education

Pension qualification such as CII or PMI

Job description

• Permanent/Regular or Fixed Term Contract/Temporary: Permanent (UK and ROW) / Regular (US)


• L&G Business Unit: Legal & General Retirements Institutional


• L&G sub Business Unit: INSTITUTIONAL RETIREMENTS


• Primary Location: London, One Coleman Street


• Job Family: Defined Benefits

Company Description

Legal & General (L&G) is a leading UK financial services group and major global investor.

We’ve been safeguarding people’s financial futures since 1836, and strive to build a better society, while improving the lives of our customers and creating value for shareholders.

We are one of the world’s largest asset managers and provide powerful asset origination capabilities. Together, these underpin our retirement and protection solutions: we are an international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income.

L&G Institutional Retirement looks after around 700,000 institutional customers who have their retirement benefits secured with us. Operating continuously in the UK market from our entrance in 1987, we are the UK’s longest-running insurer.

Our Institutional Retirement business is the UK’s longest-serving active bulk annuity provider.

Who we are

Institutional Retirement is the only insurer to have been operating continuously in the UK market from our entrance in 1987 to the present day. Our UK retirement annuity book stands at an estimated £86.1 billion at 31 December 2023.

Across our retail and institutional retirement businesses, we look after more than 1 million customers, around c.700,000 of whom are institutional customers who have had their retirement benefits secured with us.

Job Description

We’re looking for a Transitions Manager to join our Award-Winning Pension Risk Transfer business.

This is a key role, which involves supporting the successful transition of new Pension Risk Transfer business, working with trustees, advisers, administrators, brokers and internal teams to make sure schemes are planned, managed and delivered effectively.

You’ll take ownership of scheme-specific transition plans, support new business activity and help ensure customer outcomes remain at the centre of the transition process. It’s a great opportunity for someone with strong DB pensions and/or PRT experience who enjoys managing complex projects, building trusted relationships and keeping delivery on track.
This is a hybrid working opportunity, which will allow you to work flexibly between your home and the office, to help you find a work-life balance that works for you.

What you'll be doing:

• Developing scheme-specific transition plans for a portfolio of PRT transactions


• Managing end-to-end transition activity across agreed timelines, risks and milestones


• Working with trustees, advisers, brokers and administrators to agree data and benefit verification processes


• Supporting PRT Business Development activity, including tenders, beauty parades, site visits and opportunity-specific documentation


• Leading internal workstreams and collaborating with teams across L&G to deliver successful transitions


• Maintaining accurate transition MI and providing timely updates to the management team


• Completing post-transition reviews and helping close out schemes effectively


• Sharing technical knowledge and supporting the development of wider transition capability

Who we're looking for:

• A pension qualification such as CII or PMI, or equivalent experience


• Demonstrable experience in the Pension Risk Transfer market


• Experience administering or onboarding defined benefit pension schemes


• Strong knowledge of DB pension regulations, including wind-up requirements and interaction with PPF and FAS


• Good understanding of buy-in, buy-out and wider pension de-risking activity


• Strong project planning, prioritisation and delivery skills


• Clear, confident communication skills with the ability to influence senior stakeholders


• PRINCE2 Practitioner or equivalent project management experience would be beneficial, but is not essential

Whatever your role, we reward performance and behaviour with a package that looks after all the things that are important to you. Here are some of the benefits we offer:

• The opportunity to participate in our annual, performance‑related bonus plan and valuable share schemes


• Life assurance


• 27 days holiday, plus public holidays. There’s also the option to buy and sell holiday


• Competitive family leave


• Participate in our electric car scheme, which offers employees the option to hire a brand‑new electric car through tax efficient salary sacrifice


• There are many discounts we offer – both for our own products and at a range of high street stores and online


• We’re creating net‑zero carbon workplaces by 2030 by investing in our sustainable, modern offices across the UK, all designed to bring people together and elevate the in‑person experience

Additional Information

At L&G, we believe it's possible to generate positive returns today while helping to build a better future for all.

If you join us, you’ll be part of a welcoming, inclusive culture, with opportunities to collaborate with people of diverse backgrounds, views, and experiences. Guided by leaders with integrity who care about your future and wellbeing. Empowered through initiatives which support people to develop their careers and excel.

We care passionately about outcomes rather than attendance and are therefore open to discussing all kinds of flexible working options including part-time and job shares.Although some roles have limited flexibility due to customer demand, we accommodate requests when we can.

It doesn’t matter if you don’t meet every single criterion in this advert. Instead, think about what you excel at and what else you can bring in terms of strengths, potential and connection to our purpose.