Pensions Actuarial Consultant

Pensions Actuarial Consultant (London)

Location – London with hybrid working as per departmental requirements (currently a MINIMUM of 40% (2 days per week)).

LCP is an award‑winning actuarial and analytics consultancy providing market‑leading capabilities and advice across pensions and financial services, energy, and health. We combine powerful analytics with human expertise to help shape a more positive future.

We have an exciting opportunity to join LCP as a Consultant in our Pensions Actuarial Department, supporting our continued growth in the DB pensions market. We are preferably looking for candidates to divide their time between pensions actuarial and pensions risk transfer (PRT) work, but we are flexible on the split between the two depending on your strengths and interests.

Our pensions actuarial department in London consists of over 150 people, from analysts to Partners. The team advises trustees and sponsors on a wide range of DB pensions issues, from core work such as actuarial valuations and member options advice to strategic advice and project work.

Our specialist Pensions Risk Transfer team sits within our pensions actuarial department and has the deepest experience of any team in the market. The team is highly respected within the industry having led the market since its inception. The majority of people within the Pensions Risk Transfer team divide their time across a number of aspects of pensions advice.

Everyone in the department has their own unique client mix, meaning that everyone works with lots of different people to advise a range of different clients. This means that the client work is varied and interesting, and there are always new opportunities to learn from others in the team.

As a Consultant you will be:

• Working on a variety of schemes, each with their own priorities; our clients range from small schemes with only a handful of members to large schemes of over £1 bn
• Coordinating actuarial calculations with less experienced team members on your clients and reviewing those calculations along with the associated advice. At consultant level, you are expected to take ownership of work streams with support from senior members of the team
• Undertaking a central role within the Pensions Risk Transfer team, broking insurance transactions, liaising and negotiating with insurers, attending meetings and managing projects from start to end
• Exploring within our department opportunities to join other specialist teams, for example covering longevity, GMP equalisation, Collective Defined Contribution schemes and post‑transaction work

Everyone at all levels is encouraged to attend client meetings to help develop their consulting skills. Your client list will be designed such that you have opportunities to attend and present at client meetings along with more experienced members of the team. You will also have the opportunity to attend industry networking events, with LCP playing a key role organising events targeted at consultant level.

• Actuary (preferably qualified) with at least 4 years’ experience working in the UK pensions actuarial consulting environment
• Strong UK pensions technical knowledge – able to review core technical work such as actuarial valuation and member options calculations and pensions accounting
• Awareness of current issues and key hot topics in the UK pensions industry
• Ability to draft clear communications and presentations
• Ability to delegate tasks to less experienced members in the team, explaining the wider context
• Good commercial awareness with the ability to consider agreed budgets when carrying out work

You do not need any prior experience of Pensions Risk Transfer work as we are happy to provide training as required. We simply ask that candidates are keen to learn and get involved.

• Technically strong and able to propose your own ideas on how to approach complex calculations
• Good communication skills – able to explain the approach taken and results to more senior team members, and be willing to challenge
• Ability to prioritise workloads with conflicting…