Capital Actuary – Lifetime Mortgages

• London

• Full-time

• Actuary

4767_05088

Company Description

Legal & General (L&G) is a leading UK financial services group and major global investor.

We've been safeguarding people's financial futures since 1836, and strive to build a better society, while improving the lives of our customers and creating value for shareholders.

We are one of the world's largest asset managers and provide powerful asset origination capabilities. Together, these underpin our retirement and protection solutions: we are an international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income.

Who we are

Our Retail business supports customers throughout their lives, to help them save, plan, protect and enjoy retirement.

We're a leading provider of retirement and protection solutions. We aim to support our c.12.8 million policyholders and workplace members throughout their lifelong financial journeys.

We focus on helping the customers of today and tomorrow achieve better long-term outcomes. We either talk with them directly or work with intermediaries and employers to meet their needs. We use the latest technology to connect with them quickly, efficiently and wherever possible in highly personalised ways.

Job Description

We're looking for a Capital Actuary to join our Lifetime Mortgage business to help us shape the future of retirement lending.

As a Capital Actuary, you'll play a key role in managing and developing the valuation and capital modelling of our Lifetime Mortgage portfolio. You'll work closely with a diverse team of professionals across the business, contributing to financial reporting, risk management, and strategic growth initiatives. This is a fantastic opportunity to lead, influence and innovate in a collaborative and inclusive environment.

As part of this role you will also be responsible for the line management of one or more actuarial students within the Commercial and Actuarial, Retirement Lending team.

This is a hybrid working opportunity, which means you can split your working week flexibly between your home and our London office to help you achieve a work-life balance that works for you.

What you'll be doing:

• Managing the calculation and delivery of valuation and capital results for Lifetime Mortgages
• Developing and enhancing capital modelling processes - including for the Solvency Capital Requirement (SCR) - to improve the capital efficiency and profitability of our Lifetime Mortgage portfolio
• Calibrating risk distributions and correlations for key Lifetime Mortgage risk factors to ensure effective risk management within the Solvency II framework
• Supporting new product and pricing initiatives to further grow the Lifetime Mortgage portfolio and margin
• Supporting key internal stakeholders by providing technical advice, modelling and insights in relation to Lifetime Mortgages
• Assessing the impact of model, assumption or risk calibration changes on key financial metrics, including new business profitability and Solvency Capital Requirements
• Developing an understanding of the sensitivities of the financial metrics to key assumptions and market conditions
• Evaluating any material changes to pricing assumptions and recommending pricing updates where needed

Qualifications

Who we're looking for:

• Qualified Actuary (FIA/FFA or equivalent)
• Demonstrable experience in Life Insurance or Actuarial Consultancy, with previous Lifetime Mortgage experience
• A strong knowledge/understanding of Solvency II and capital modelling frameworks, with previous Solvency Capital Requirement (SCR) experience being highly preferable
• Ability to effectively apply statistical and actuarial theory to real-world problems
• Advanced Excel user, with familiarity of using other modelling tools such as Python or R
• Strong communication skills, including the ability to explain complex concepts clearly to both technical and non-technical audiences
• Experience in preparing and presenting financial results and/or regulatory submissions would be highly advantageous
• A team player who can effectively collaborate across teams and contribute toward shared goals

Whatever your role, we reward performance and behaviour with a package that looks after all the things that are important to you. Here are some of the benefits we offer:

• The opportunity to participate in our annual, performance -related bonus plan and valuable share schemes
• Generous pension contribution
• Life assurance
• Healthcare Plan
• 27 days holiday, plus public holidays. There's also 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
• There are the many discounts we offer – both for our own products and at a range of high street stores and online
• In 2023, some of our workspaces were redesigned. Our offices are great spaces to connect and collaborate and have your wellbeing at the heart

Additional Information

At L&G, we believe it's possible to generate positive returns today while helping to build a better future for all.

If you join us, you'll be part of a welcoming, inclusive culture, with opportunities to collaborate with people of diverse backgrounds, views, and experiences. Guided by leaders with integrity who care about your future and wellbeing. Empowered through initiatives which support people to develop their careers and excel.

We care passionately about outcomes rather than attendance and are therefore open to discussing all kinds of flexible working options including part-time, term-time and job shares. Although some roles have limited flexibility due to customer demand, we accommodate requests when we can.

It doesn't matter if you don't meet every single criterion in this advert. Instead, think about what you excel at and what else you can bring in terms of strengths, potential and connection to our purpose.