Defined Benefit Scheme Administrator

1 week ago

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

We are seeking a highly skilled and experienced Transition Manager to join our DB Transition team at Legal & General. As a key member of our team, you will be responsible for 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, including beauty parades, administration risk assessments, and creating benefit specifications.
  • Lead on the development of 'scheme specific' transition plans for a portfolio of transactions and provide these to all Trustees, their advisers, and all interested parties within L&G.
  • 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.
  • Undertake a Post Implementation Review for each scheme and meet with or report to the Trustees, their advisers, and administrators as appropriate.
  • Maintain an excellent knowledge of the Pension Risk Transfer proposition and processes of L&G, as well as any changes to pensions and de-risking legislation.
Requirements
  • 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 understanding of the current challenges and opportunities in the Pension Risk Transfer market.
  • Strong organisational and change management skills, 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.
About Us

Legal & General is a leading financial services group and major global investor, named Britain's Most Admired Company in 2023, for the second year running. We aim to build a better society for the long term by investing our customers' money in things that make life better for everyone. We strive to be open, mindful, and inclusive, so are always willing to discuss flexible working arrangements and reasonable accommodations for candidates with specific needs.

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