Pension Risk Transfer Specialist

7 days ago

Hove, Brighton and Hove, United Kingdom Legal & General Full time
About the Role

We are seeking a highly skilled Transition Manager to join our Institutional Retirement division at Legal & General. As a key member of our team, you will play a critical role in managing the end-to-end scheme implementation and on-boarding of new Pension Risk Transfer (PRT) business.

Key Responsibilities
  • Manage the complete end-to-end scheme implementation and on-boarding of a portfolio of new PRT business.
  • Support the PRT Business Development team in maximising both new and existing business opportunities at tender, including beauty parades, administration risk assessments, benefit specifications, and site visits.
  • Develop and lead on 'scheme specific' transition plans for a portfolio of transactions, providing these to all Trustees, their advisers, and interested parties within L&G to demonstrate how the transition project is being handled.
  • Liaise with Trustees, brokers, and administrators to agree a timescale and process for verifying data to ensure that benefits are costed accurately and reflect the legal liabilities being taken on by L&G.
  • Maintain an excellent knowledge of the PRT proposition and processes of L&G, as well as any changes to pensions and de-risking legislation, to support the development of our PRT Implementation capabilities across our UK business structures and future active territories.
Requirements
  • Pension Qualification: Preferably holding or working towards PMI.
  • Demonstrable experience in administering and on-boarding Defined Benefit (DB) pension schemes.
  • Knowledge of pension regulations for DB schemes, including a detailed understanding of the requirements for schemes in the course of wind-up, and the interaction with PPF and FAS.
  • An in-depth understanding of buy-out, buy-in, and an understanding of longevity insurance and reinsurance products and propositions.
  • A deep understanding of systems and processes required to meet annuity commitments, including data/benefit input, FR reconciliation, inception costings, administration processes, and customer communication.
  • An understanding of the current challenges and opportunities in the Pension Risk Transfer market.
  • Keeps up to date with any legislative changes and understands the legal framework around de-risking and buy in/buy out contracts.
  • Highly customer-focused and understands the need to maintain and improve relationships with both internal and external customers.
  • Strong organisational and change management skills and attention to detail, with a demonstrated ability to prioritise and work independently, managing a high-volume of tasks and deadlines.
  • Proficient in using Microsoft products, especially Excel.
What 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.
  • 27 days holiday, plus public holidays, plus 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.
  • Many discounts we offer – both for our own products and at a range of high street stores and online.

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