Pension Risk Transfer Consultant

3 weeks ago

Hove, Brighton and Hove, United Kingdom Legal & General Resources Limited Full time
Company Overview

Legal & General is a prominent financial services organization that manages the retirement benefits of approximately 700,000 institutional clients. Established in the UK since 1987, we are recognized as the longest-standing insurer in the region.

Our Institutional Retirement division specializes in pension risk transfer (PRT) solutions for both UK and US defined benefit (DB) schemes, alongside reinsurance services from our global hub in Bermuda. We collaborate with corporations, DB pension schemes, and their advisors to ensure the security and protection of retirement benefits for scheme members.

Role Overview

We are currently seeking a Transition Consultant to join our award-winning Pension Risk Transfer team.

In this role, you will receive a competitive salary, comprehensive benefits, and the chance to work closely with Employee Benefit Consultants and Trustees of Defined Benefit Pension Schemes. Your primary responsibility will be to reconcile scheme member data and accurately document the secured benefits, ensuring all stakeholders have the latest information for the ongoing management of all schemes.

Key Responsibilities:
  • Analyze scheme benefits and data to draft legal agreements that facilitate proper administration of benefits by the Client Services teams.
  • Ensure all teams within PRT have accurate benefit specifications and data to guarantee customers receive their correct entitlements and that schemes are adequately funded.
  • Oversee the progress of assigned schemes, conducting regular reviews and ensuring timely and appropriate responses to customer inquiries.
  • Support the new business origination team and Transition Managers by providing insights on administration capabilities and participating in site visits to assess data quality prior to transactions.
  • Deliver timely communication and maintain a comprehensive audit trail of all benefit and data items throughout the onboarding process.
  • Keep all internal customers and relevant third parties informed promptly on any critical information affecting their processing to ensure fair treatment of the end customer.
  • Provide customers with tailored information to help them understand communications, including any necessary actions or when further support may be needed.
Candidate Profile:
  • Possess a Pension Qualification such as CII or PMI (or equivalent experience).
  • Have a thorough understanding of pension regulations for DB schemes, particularly regarding de-risking processes (essential).
  • Demonstrate knowledge of how benefits are structured and administered in Defined Benefit schemes (essential).
  • Exhibit strong organizational skills and the ability to manage tight deadlines, prioritizing tasks effectively.
  • Deliver accurate and cost-effective services by ensuring first-time accuracy.
  • Understand the risks faced by the team/business and actively seek to mitigate these risks.
  • Possess excellent written and verbal communication skills.
  • Maintain a strong customer focus, fostering relationships with internal and external stakeholders, including policyholders, scheme members, regulatory bodies, and colleagues.
Benefits:
  • Participation in an annual performance-related bonus plan and valuable share schemes.
  • Generous pension contributions.
  • Life assurance coverage.
  • Private medical insurance.
  • A minimum of 25 days of holiday, plus public holidays, increasing to 26 days after two years of service, with options to buy and sell holiday.
  • Competitive family leave policies.
  • Access to an electric car scheme, allowing employees to hire a new electric vehicle through tax-efficient salary sacrifice.
  • Various discounts on our products and at numerous high street stores and online.
  • Modern office spaces designed to enhance collaboration and well-being.
Company Commitment:

Legal & General is dedicated to building a better society for the long term by investing our customers' funds in initiatives that improve lives. We foster a welcoming culture that encourages collaboration among individuals from diverse backgrounds and experiences. Our leaders prioritize integrity and care about your future and well-being, empowering you through initiatives that support career development and excellence. We are committed to being open, mindful, and inclusive, and we are always willing to discuss flexible working arrangements and reasonable accommodations for candidates with specific needs.

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