Actuarial Analyst (Longevity Risk)

Company Description

Legal & General looks after around 700,000 institutional customers who have their retirement benefits secured with us. Operating continuously in the UK market since 1987, we are the UK’s longest-running insurer.

Our Institutional Retirement division provides pension risk transfer (PRT) solutions for UK and US defined benefit (DB) 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 settle their pension liabilities, and enable investment for the long term to back our pension promises.

Job Description

We’re currently recruiting for an Actuarial Analyst to join the Longevity Risk team within our multi award-winning Retirement Business. Our Longevity Risk team is responsible for providing mortality assumptions to optimise pricing, economic capital, and valuation assumptions for Legal & General’s Retirement Business.

In this role, you will support the production and communication of pricing, reporting, and capital assumptions for longevity for the UK and international retirement (primarily annuities) business. You will also aid in providing population mortality monitoring and analysis that can help drive business decisions.

This is a hybrid working opportunity, which means you can split your working week flexibly between your home and our London office in Moorgate to help you achieve a work-life balance that works for you.

What you'll be doing:

• Assist in developing and communicating longevity assumptions for year-end reporting, pricing, and/or capital requirements.
• Support developments relating to new initiatives and strategic deliverables.
• Assist with educating and informing stakeholders on key aspects of mortality information.
• Develop, maintain, and improve the models, tools, and solutions that we use for the analysis of longevity risk trends and uncertainty.
• Contribute to and share research on longevity risk to optimise our pricing and reserving assumptions.
• Contribute to or lead on the deliverables of ad-hoc longevity projects across pricing, reporting, and capital as required.
• Provide concise, clear, and well-communicated summaries of all analysis work completed and present these findings to key stakeholders to achieve prompt signoff.

Qualifications

Who we're looking for:

• Part Qualified Actuary who is making progress through the IFoA Exams.
• Longevity experience/knowledge would be highly beneficial but is not essential.
• Commercial knowledge of longevity risk products including BPA, individual annuities, longevity swaps, etc. would be desirable.
• Practical experience of model development and knowledge of the application of statistical methodologies to longevity modelling would be highly beneficial but is not essential.
• Actuarial skills for modelling, including advanced Excel skills (experience with modelling in R would be an even greater advantage).
• Strong problem-solving and analytical skills, with the ability to break down problems into separate components, form judgments, assess risks, and develop solutions.
• Good written, oral, and presentation skills, with the ability to liaise with and influence stakeholders.
• Ability to work effectively with peers and contribute to the delivery of projects in a timely manner.
• Ability to work flexibly, develop innovative solutions, and provide positive challenge to others.

Benefits

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:

• Competitive Salary plus Actuarial Study Support.
• The opportunity to participate in our annual, performance-related bonus plan and valuable share schemes.
• Generous pension contribution.
• Life assurance.
• Private medical insurance.
• At least 25 days holiday, plus public holidays, increasing to 26 days after 2 years’ service.
• 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.
• Various discounts for our own products and at a range of high street stores and online.

Additional Information

Legal & General is a leading financial services group and major global investor, named Britain’s Most Admired Company in 2023 for the second year running. Rated top in our sector and top for inspirational leadership, we have a strong heritage and an exciting future.

We aim to build a better society for the long term by investing our customers’ money in things that make life better for everyone. If you join us, you’ll be part of a welcoming culture, with opportunities to collaborate with people of diverse backgrounds, views, and experiences.

We strive to be open, mindful, and inclusive, so we are always willing to discuss flexible working arrangements and reasonable accommodations for candidates with specific needs.

If you’re open to find out more, we'd love to hear from you.