Capital Risk Aggregation Specialist

3 weeks ago

London, Greater London, United Kingdom Legal & General Full time

Job Overview

We are seeking a Capital Risk Aggregation Specialist to enhance our Group Actuarial division, focusing on the aggregation of Solvency Capital Requirements (SCR) for both L&G Group and LGAS (Legal & General Assurance Society). This role offers a competitive salary, car allowance, and a range of benefits, alongside the chance to engage in intriguing capital aggregation initiatives, including the methodologies for SCR determination. Key Responsibilities:
  • Overseeing the solvency estimation process for L&G Group and LGAS, ensuring thorough checks are performed on estimates prior to dissemination, identifying areas for development to enhance the process and meet stakeholder expectations.
  • Managing the aggregation of SCR for L&G Group and LGAS, which includes preparing Analysis of Change to support validation and provide business insights. You will also be responsible for validating and elucidating changes in the diversification benefits realized by L&G Group over time.
  • Supervising the calibration of the Group correlations matrix, operational risk capital for the LGAS entity, and operational risk capital outside of Business Units. This involves monitoring the appropriateness of methodologies used in these calibrations and coordinating submissions across business units.
  • Assisting L&G Group's response to regulatory initiatives, including the Insurance Capital Standard and Life Insurance Stress Testing. This will involve collaboration with internal stakeholders to ensure timely and quality submissions to regulators.
  • Contributing to the strategic direction for team improvements. Employing innovative thinking to generate ideas for enhancing results and processes. You will also exercise professional judgment on complex actuarial matters using specialized knowledge and collaborate with team members and external parties to implement process enhancements and model modifications to boost efficiency and accuracy.
  • Establishing and nurturing relationships with Business Units to effectively represent the department and recognize the implications of any relevant changes that may affect team and departmental processes.
Candidate Profile:
  • Qualified Life Actuary
  • Comprehensive understanding of Solvency II Principles and their practical applications
  • Expertise in actuarial liability reporting and analysis across various metrics, with the ability to identify potential relative movements
  • In-depth knowledge of financial and insurance risk management, including a thorough understanding of the factors influencing risk capital
  • Strong problem-solving abilities with a capacity for innovative thinking and strategy development
  • Pragmatic approach with sound judgment and decision-making skills, even with limited information
  • Resourcefulness in overcoming challenges to deliver results on time and to the required quality
  • Proficient in communicating findings clearly and persuasively to diverse stakeholders, tailoring information to meet audience needs
Benefits:
  • Participation in an annual performance-related bonus plan and valuable share schemes
  • Generous pension contributions
  • Life assurance coverage
  • Private medical insurance
  • 27 days of holiday, in addition to public holidays, 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
  • Numerous discounts on our products and at various high street and online retailers
  • Redesigned workspaces that foster connection and collaboration, prioritizing employee wellbeing

Legal & General is a prominent financial services organization, recognized for its strong heritage and promising future. As one of the world's largest asset managers, homebuilders, pension providers, and insurers, we create a unique business model that delivers value to our customers and society. By joining us, you will be part of an inclusive culture that values diverse backgrounds and experiences, guided by leaders who prioritize your future and wellbeing. We encourage open discussions about flexible working arrangements and reasonable accommodations for candidates with specific needs. We value your strengths and potential, and we look forward to hearing from you.

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