DB Pensions Calculation Consultant

Company Description

Legal & General Institutional Retirement looks after around 700,000 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, and we are growing from strength to strength.

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 to settle their pension liabilities, and enable investment for the long term to back our pension promises.

Job Description

Do you have extensive experience in Defined Benefit pension administration? Are you a part or fully qualified pensions actuary? If so, we’re seeking a motivated and technically skilled individual to join our growing, multi-award winning PRT business as a Calculation Consultant.

In this role, you will support the business by providing expertise on complex benefit structures, manual calculations, and being an SME on all ongoing and new schemes that come into our in-house Client Services team.

You will also effectively manage all aspects of claims work and help to deliver excellent customer outcomes for our members. As well as being technically savvy, you will also need to be a strong communicator, able to tailor your communication and simplify very complex information for the intended audience.

This is a hybrid working opportunity, allowing you to split your working week flexibly between your home and our central Glasgow office to help you achieve a work-life balance that works for you.

What you'll be doing:

• Taking a leading role in the team for checking individual Defined Benefits quotations, design & issue of non-standard communication to both members and third-party intermediaries.
• Working with the Team Manager to ensure that an efficient administration and claims service is provided to individual scheme members, Trustees, and intermediaries in line with service level agreements.
• Facilitating and leading the operation of additional activities (Valuation and data updates, Bulk transfers, WULS, etc.) and liaising with other teams across Client Services, PRT.
• Leading projects to enhance and improve processes and proactively engaging in new initiatives as a result of changes in legislation and/or system developments.
• Taking responsibility to develop robust and reusable solutions that meet quality control, version control, and auditing standards for new and existing customers.
• Working with IT partners to ensure that technical solutions are fully specified, built to specification, tested, and rolled out for use in a timely manner.
• Analyzing feedback to ensure that customers’ reasonable expectations of performance and service are met and providing information on identified failings and changes made.
• Supporting the ongoing development of the wider team by providing appropriate support and training to less experienced members of the team.

Qualifications

Who we're looking for:

• Substantial Defined Benefit pensions experience.
• Strong numeracy skills, comfortable working in a numbers-based role.
• Proven ability to deliver solutions to technical and business problems.
• Knowledge of relevant legislation and compliance: GDPR, Money Laundering, Complaints, The Consumer Duty, Breach guidelines.
• Excellent customer service skills.
• Experience supporting and training team members.
• Strong written and oral communication skills.

Benefits

We reward performance and behavior 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.
• Generous pension contribution.
• Life assurance.
• Private medical insurance.
• At least 25 days holiday, plus public holidays, increasing to 26 days after 2 years’ service, with the option to buy and sell holiday.
• Competitive family leave.
• Participation in our electric car scheme, offering 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.

Guided by leaders with integrity who care about your future and wellbeing, you will be empowered through initiatives that support your career development.

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 finding out more, we'd love to hear from you.