ALM Reporting 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.

We are looking for an ALM Reporting Actuary to lead responses to daily and ad hoc ALM questions as well as own and explain the weekly asset and liability information used across Institutional Retirement Finance. This role is for someone who can combine actuarial judgement with strong asset knowledge, turn complex movements into clear insight and improve the technology and controls behind reporting.

We welcome candidates from life insurance and pensions, as well as relevant investment, banking or consulting backgrounds where the underlying ALM and actuarial knowledge is strong.

The role will be Cardiff based but will require travel to the London office a few times a month, this will be covered by the business

• Leading accurate, timely responses to daily and ad hoc ALM requests alongside ownership of weekly ALM MI
• Reviewing changes in interest rate and inflation exposures and explaining P&L movements
• Assessing the ALM impact of proposed trades, new assets, new PRT schemes and reinsurance activity
• Producing concise analyses of change and escalating unusual results
• Turning technical outputs into clear stakeholder communication and decision insight
• Strengthening reporting processes, controls, governance and documentation
• Developing automation and technology-enabled reporting solutions
• Supporting changes to systems, methods and the connection between weekly and month-end reporting

• Nearly or Newly Qualified Actuary
• Strong understanding of investments, ALM, asset models, hedging or market risk
• Experience producing, reviewing or analysing actuarial or financial reporting
• Ability to explain movements and technical conclusions clearly to non-specialists
• Strong Excel and data analysis skills
• Evidence of ownership and delivery under regular deadlines
• Confidence working across actuarial, investment, risk and finance teams
• Interest in automation, with Python, R or similar experience welcomed

• The opportunity to participate in our annual, performance‑related bonus plan and valuable share schemes
• Generous pension contribution
• Life assurance
• Healthcare Plan (permanent employees only)
• At least 25 days holiday, plus public holidays, 26 days…