Defined Benefit Transition Manager

4 weeks ago

Brighton, Brighton and Hove, United Kingdom LegalAndGeneral Full time

Job Description:

We are seeking a skilled Transition Manager to join our team at Legal & General. In this role, you will be responsible for managing the end-to-end scheme implementation and onboarding of new Pension Risk Transfer (PRT) business.

You will work closely with stakeholders to establish and control the most efficient way to transition each scheme into L&G. This will involve managing a portfolio of transactions, developing scheme-specific transition plans, and providing these to all Trustees, their advisers, and interested parties within L&G.

Key Responsibilities:

  • Manage the complete end-to-end scheme implementation and onboarding of a portfolio of new PRT business.
  • Support the PRT Business Development team in maximising both new and existing business opportunities at tender stage.
  • Develop scheme-specific transition plans for a portfolio of transactions and provide these to all Trustees, their advisers, and 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.
  • 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:

  • Pension qualification: preferably holding or working towards PMI.
  • Demonstrable experience in administering and onboarding 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 longevity insurance and reinsurance products and propositions.
  • A deep understanding of systems and processes required to meet annuity commitments.
  • An understanding of the current challenges and opportunities in the Pension Risk Transfer market.
  • 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.
  • 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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