Senior Actuarial Analyst – Policy Holder Options

Legal And General Group; City Of London; Hybrid; GBP 60,000 - 80,000; Full time

Job summary

A leading insurance provider in the UK is looking for a Senior Actuarial Analyst to join their Actuarial Policyholder Options team. The role involves developing actuarial methods, validating calculations, and ensuring fair pricing for policyholder options. Candidates should be part-qualified actuaries experienced in UK Defined Benefit Pension Schemes. This hybrid position offers competitive salary, performance bonuses, generous pension contributions, and various other benefits.

Benefits

Performance-related bonus plan

Generous pension contributions

Life assurance

Private medical insurance

At least 25 days annual leave

Qualifications

• Experience applying actuarial principles to UK Defined Benefit Pension Schemes.
• Strong knowledge of member options and validation of actuarial systems.

Responsibilities

• Assist in developing actuarial methods for policyholder option calculations.
• Review and validate tools for policyholder option calculations.
• Collaborate with colleagues for system deliveries.
• Conduct regular processes for bespoke implementation.
• Check calculations for non-standard individual cases.
• Ensure fair value pricing of policyholder options.

Skills

Analytical skills

Problem-solving

Team collaboration

Communication skills

Attention to detail

Actuarial principles

Education

Part-qualified Pensions Actuary

Job description

Company Description

Legal & General Institutional Retirement has secured the retirement benefits of over 700,000 members of defined benefit pension schemes. We are the UK’s longest-running insurer, operating continuously in the UK market from our entrance in 1987.

Our Institutional Retirement division provides Pension Risk Transfer (PRT) solutions for UK and US defined benefit (DB) pension schemes, and reinsurance solutions from our global hub in Bermuda. We work with companies, DB pension schemes and their advisors to help them secure and protect scheme members’ retirement benefits.

Joining us means you’ll support customers’ financial security in retirement; help companies to settle their pension liabilities and focus on growing their businesses; and enable investment for the long term to back our pension promises.

Job Description

We’re currently recruiting for a Senior Actuarial Analyst to join the newly created Actuarial Policyholder Options team within our multi-award winning PRT Division.

We’re offering a competitive salary, study support and a host of other great benefits as well as the opportunity to work for the most decorated insurer in the PRT market - who are widely viewed as the gold standard for protecting members' benefits for the long-term.

This is a unique opportunity, where you’ll play a crucial role in supporting the governance and implementation of the actuarial methods and assumptions applicable to policyholder options and ensure that fair value is always provided.

This is a hybrid working opportunity, which means you can split your working week flexibly between your home and our London office in Moorgate.

What you’ll be doing

• Assisting in the development of actuarial methods for policyholder option calculations
• Reviewing and validating tools for policyholder option calculations
• Collaborating with colleagues to ensure delivery of system developments
• Conducting regular processes for bespoke implementation of our policyholder options basis
• Checking calculations for non-standard individual cases
• Ensuring pricing of policyholder options delivers fair value to customers
• Working closely with developers, end users, and change professionals
• Specifying and testing developments to member option calculation tools

Qualifications

Who we’re looking for

• Part-qualified Pensions Actuary
• Experience in applying actuarial principles to UK Defined Benefit Pension Schemes
• Strong knowledge of member options and validation of actuarial systems
• Excellent analytical and problem-solving skills
• Ability to work collaboratively in a team environment
• Effective communication skills
• Detail-oriented with a focus on accuracy
• Proactive and able to manage multiple tasks efficiently

Benefits

• Participation in our annual performance-related bonus plan and share schemes
• Generous pension contributions
• Life assurance
• Private medical insurance
• At least 25 days