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Longevity Risk Actuarial Analyst

2 months ago


London, Greater London, United Kingdom Legal & General Full time
About the Role

We are seeking an experienced Actuarial Analyst to join our Longevity Risk team at Legal & General. As a key member of our team, you will play a crucial role in supporting our Institutional Retirement division with pension risk transfer (PRT) solutions for UK and US defined benefit (DB) schemes.

Key Responsibilities
  • Longevity Risk Modelling: Assist in developing and communicating longevity assumptions for year-end reporting, pricing, and capital requirements.
  • Solvency II Capital Modelling: Support the delivery of strategic deliverables, including the use of financial levers for year-end reporting, pricing, and capital purposes.
  • Mortality Analysis: Monitor population mortality and health data to identify trends and produce regular, timely MI to various stakeholders.
  • Model Development: Contribute to the development and delivery of marginal distributions of uncertainty for base mortality, mortality trend, spouse demography, and associated correlations for the retirement portfolio.
  • Mortality Projection Models: Produce and maintain future mortality projection models, researching new techniques to improve modelling capabilities.
  • Longevity Risk Modelling: Support the development, review, and maintenance of the Longevity Risk 'Predictive Model' for describing/predicting the mortality experience of the UK and International business.
  • Research and Development: Contribute to research on longevity risk to identify suitable data sources and potential software to optimize pricing and reserving assumptions.
  • Mortality Data Acquisition: Support mortality data acquisition and innovation to enable Legal & General to expand into international annuities for base mortality.
  • Ad-hoc Projects: Contribute to or lead on the deliverables of ad-hoc longevity projects across pricing, reporting, and capital as and when required.
Requirements
  • Actuarial Qualifications: Part-qualified with good progress on IFoA Exams, ideally with previous Life or Pensions experience.
  • Longevity Experience: Knowledge of base and trend mortality and common practices would be highly beneficial.
  • Commercial Knowledge: Familiarity with longevity risk products, including BPA, individual annuities, and longevity swaps.
  • Actuarial Skills: Advanced Excel skills and experience with modelling in R would be advantageous.
  • Problem-Solving and Analytical Skills: Strong problem-solving and analytical skills, including the ability to break down complex problems and develop solutions.
  • Communication Skills: Excellent written, oral, and presentation skills.
  • Flexibility and Adaptability: Ability to work flexibly and adapt to changing demands and conditions within the organisation and market place.