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Actuarial Finance Business Partner

1 month ago


Brighton East Sussex, United Kingdom Legal & General Group Full time


Company Description

Securing pensions over the long term can be a challenge for many businesses. Our ambition at Legal & General Retirement Institutional (LGRI) is to help companies and pension scheme trustees honour their defined benefit pension promises to their employees. We’re helping companies settle their pension liabilities so they can focus on growing their businesses, as well as helping to support their members’ financial security in retirement. And we’re investing for the long term to back our pension promises. In the last 30 years we’ve written more UK business than any other insurer, and we currently look after more than half a million pension policyholders. We're the UK’s longest-serving active bulk annuity provider, and a market-leading, multi-award-winning business. 

Job Description

We’re recruiting for an Actuarial Finance Business Partner to join our Retirement Division. We’re offering acompetitive base salary, great benefits and the opportunity to support L&Gs Retirement Division to optimise its financial performance and ensure that the financial implications of tactical and strategic decisions are fully assessed and understood under a variety of scenarios.

What you'll be doing:

  • Utilising a deep technical knowledge of Solvency II capital and IFRS 17 to provide high quality financial analysis, support the business to optimise its financial performance and to ensure that the financial implications of tactical and strategic decisions are fully assessed and understood under a variety of scenarios.
  • Supporting the Head of Finance Business Partnering and Senior Finance Business Partners in the development and delivery of LGRI’s detailed five-year strategic plan, including ORSA economic downside scenarios, and the preparation of regular forecasts of business KPIs (including profitability (primarily IFRS 17), Solvency II surplus generation, new business performance and liquidity).
  • Working closely with the Strategy / Corporate Development teams and the wider business to support the development of the division’s strategy by preparing financial analysis and projections under a range of scenarios to assess the financial implications of new initiatives.
  • Maintaining, developing and using detailed financial models (primarily Excel based currently) to generate projections of P&L, Balance Sheet (including Solvency II) and other KPI metrics for both plans and forecasts, including various sensitivities and scenarios.
  • Having an in depth understanding of threats and opportunities to the LGRI financial results and being able to apply commercial and technical knowledge to suggest a series of “levers” that can be used to manage the stability and predictability of these results.
  • Constructing reports to communicate financial results and forecasts back to the business (including Senior Management Teams) and to the Group to assist the LGRI Division and Group in the management of its business performance.
  • Developing and maintaining close working relationships with the wider Finance team and taking a collaborative approach to the production of financial analysis. As well as working with the UK/International Pricing, Origination, Reinsurance, Investment and Risk teams to develop and maintain a solid understanding of the business, its plans, strategy and initiatives and the key drivers of performance.
  • Demonstrating an attitude of continuous improvement by keeping abreast of technology developments that could simplify and streamline the processes and procedures within the team and proposing these improvements. As well as having a collaborative approach to improving the effectiveness and efficiency of the team’s wider deliverables. 

Qualifications

Who we're looking for:

  • A Qualified / Nearly Qualified Actuary or Qualified Accountant with relevant experience as outlined below:-
  • A detailed technical understanding of a Solvency II balance sheet and associated metrics in a life insurance or pensions context (This is an essential requirement for the role)
  • A good understanding of IFRS 17 and related metrics in a life insurance or pensions context.
  • The ability to interrogate models to understand the impact of different assumptions and explain these movements in the results, and deploy appropriate checks and controls to ensure accuracy of outputs.
  • A comprehensive knowledge of the Pension Risk Transfer (‘PRT’) products (buy-ins and buy-outs) as well as a detailed understanding of the drivers of business performance for a PRT provider.
  • An understanding of our competitor and market environment, the changes happening within them and the impact these could have on internal strategies, plans and targets.
  • Excellent stakeholder management and communication skills, including an aptitude for building relationships and interacting effectively at all levels.

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: 

  • The opportunity to participate in our annual, performance-related bonus plan and valuable share schemes
  • Generous pension contribution
  • Life assurance
  • Private medical insurance (permanent employees only) 
  • 27 days holiday, plus public holidays. There’s also the option to buy and sell holiday 
  • 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 
  • There are the many discounts we offer – both for our own products and at a range of high street stores and online
  • In 2023, some of our workspaces were redesigned. Our offices are great spaces to connect and collaborate and have your wellbeing at the heart

Additional Information

Legal & General is a leading financial services organisation, 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’re one of the world's largest asset managers, homebuilders, pension providers and insurers. Connecting to form a unique business model which drives value for our customers and society. And enabling our people to create impact through work that is meaningful and valued.  

If you join us, you’ll be part of a welcoming, inclusive 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. Empowered through initiatives which support people to develop their careers and excel.  

We strive to be open, mindful, and inclusive, so are always willing to discussing flexible working arrangements and reasonable accommodations for candidates with specific needs. It doesn’t matter if you don’t meet every single criterion in this advert. Instead, think about what you excel at and what else you can bring in terms of strengths, potential and connection to our purpose. 

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

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