Prudential Risk Actuary

2 months ago

London, United Kingdom Legal & General Investment Management Full time

Reference
- VN-25717Role Type
- PermanentLocation
- London or HoveSalary
- Competitive + Car Allowance, Bonus & BenefitsClosing Date
- 23 June 2023Your role at a glance

Would you relish an opportunity to help shape the development of our diverse and growing business by providing advice, challenges and support to both Legal & General Retirement Institutional (LGRI) and Legal & General Retail on its business proposals?

If so, we are looking for x2 Qualified Actuaries to join our expanding Prudential Risk team.

Prudential Risk is concerned with the sound and prudent management of our business and is a core part of the LGRI and L&G Retail Risk functions. Prudential Risk provide advice and support to the business on a wide variety of topics, carrying out technical actuarial reviews of financial results, reviewing assumption setting and methodologies and proposals for new products and initiatives.

The scope of LGRI’s and L&G Retail’s business is broad, covering both UK and international annuities, individual retail and group protection, workplace savings and lifetime mortgages as well as the management of a wide range of investments.

So whilst you can expect to focus on critical insurance risks such as longevity and mortality in this role, you will also gain exposure to many other aspects of LGRI’s and L&G Retail’s businesses and work closely with market, conduct and operational risk colleagues and 1st Line teams from across L&G.

This is a hybrid working opportunity, which means you can split your working week flexibly between your home and either our London or Hove offices to help achieve a work-life balance which suits you.

What you'll be doing
- Supporting the Prudential Risk Director (LGRI and L&G Retail) in ensuring that all statutory obligations associated with the role are complied with.
- Providing 2nd line risk oversight for LGRI and L&G Retail on the management of prudential risk together with associated operational and reputational risks.
- Contributing to the development and implementation of an appropriate framework for the management of prudential risk for the covered divisions, ensuring compliance with Group policies and standards.
- Providing review and oversight of the financial results of LGRI and L&G Retail for all reporting metrics.
- Undertaking, reviewing, analysing and providing advice on the methodology and assumptions used for financial and regulatory reporting and risk management of LGRI and L&G Retail, ensuring that they meet professional and statutory requirements as well as any further Group requirements.
- Providing professional supervision of the actuarial functions of LGRI and L&G Retail, to ensure that product design and liability valuation contribute towards the achievement of the objectives of LGRI and L&G Retail, including appropriate risk management, and that product pricing adheres to Group Policies.
- Contributing to the development, use and oversight of the Group’s capital models, ensuring that risks are identified and modelled appropriately. This could include providing advice on the formulation of calculation methodology and parameters.
- Actively working with wider L&G Risk teams to share information and experience and develop the aims of good risk management practice across L&G.
- Building and maintaining effective relationships with first line teams in LGRI, L&G Retail and Group and promoting open and honest dialogue within the business to ensure early and appropriate engagement between first and second lines to enable LGRI and L&G Retail to meet their business objectives.
- Ensuring that the principles of Conduct Risk are embedded into day-to-day operations to deliver good customer outcomes at all times. You will also ensure that all business processes and internal controls within the role are designed and performed in a way that delivers good customer outcomes and demonstrates effective management of Conduct Risk.

What we're looking for
- A qualified actuary (through the IFoA or equivalent)
- An understanding of risk management principles is essential.
- Experience of pricing and valuation of actuarial liabilities and of the financial management of a life and annuity business is preferable.
- A pragmatic thinker, who has a healthy level of scepticism and can independently reach a conclusion/decision on their own volition.
- Strong communication skills, both verbal and written, that will enable them to deliver effective review and challenge of business/product developments to a wide range of stakeholders.
- Report writing skills, for both executive and technical reports.

**Benefits**:

- When you commit to Legal & General, we’ll commit to you too. That means we’ll recognise and reward your hard work, your performance and your contribution.If you join us, you’ll get access to some great benefits, including private medical insurance, 30 days holiday (excluding bank holidays), a generous pension scheme, life assurance, and Income Protection. You'

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