Defined - Technical Loading Actuary

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 x3 Qualified Pensions Actuaries to join our Technical Loading Team in newly created roles.
As a Technical Loading Actuary, you will help us to onboard increasingly complex Defined Benefit pension schemes, provide actuarial assurance and contribute to how pension rules and calculations are implemented within our administration platforms.

This role would be ideal for someone who enjoys the technical heart of DB pensions: understanding a complicated benefit specification, working out how it should operate in practice and making sure the resulting calculations are accurate, controlled and well governed.

Whether you come from a pension consultancy, pension administration provider, scheme actuarial team, pension risk transfer environment or another role involving complex DB implementation work, we’d love to hear from you.

This role is a Hybrid working opportunity, which means you can split your time between your home and the office to find a work-life balance that works for you.

What you'll be doing:

Overseeing the actuarial loading and validation of complex Defined Benefit pension schemes

Interpreting scheme rules, benefit specifications, factors and calculation methodologies

Reviewing and signing off actuarial rules, assumptions, calculations and system outputs

Supporting the design and testing of GMP Equalisation functionality

Translating actuarial requirements into practical system specifications and calculation logic

Providing clear decisions and guidance on complex actuarial issues

Improving governance, controls, testing and auditability across the loading process

Working closely and collaboratively with a variety of colleagues across our PRT function

Who we're looking for:

Qualified Actuary under the IFoA (or equivalent)
Strong technical knowledge of Defined Benefit pension schemes

Experience interpreting complex benefit structures and scheme documentation

Strong mathematical and analytical capability

Confidence reviewing actuarial calculations and providing professional assurance

Ability to explain complex actuarial requirements clearly to technical and operational colleagues

Interest in pension technology, systems, testing or platform development

Sound judgement and a collaborative, customer-focused approach

Whatever your role, we reward performance and behaviour with a package that looks after all the…