ALM Manager

Overview

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 asset origination capabilities, underpinning our retirement and protection solutions in pension risk transfer, UK and US life insurance, and UK workplace pensions and retirement income. Our Group Functions provide the services that all areas of the business need, enabling everyone at L&G to do what they do best. Joining us means helping to improve the lives of our customers and contributing to the success of the business every day.

Job Description We’re recruiting for an ALM Manager to join the Group Asset Liability Management (ALM) team across all aspects of developing, embedding and executing the Group’s ALM Framework. This is a hybrid opportunity, enabling you to split your week between home and our London office.

We offer a competitive base salary, great benefits and the opportunity to support work that directly contributes to L&G’s business strategy.

The Group ALM team provides first-line oversight of how market risks are managed across the L&G Group. You’ll develop investment and risk management strategies aligned with the Group’s strategic objectives and internal risk appetites, within the evolving macroeconomic and regulatory environment.

What you’ll be doing

• Work closely with the Business Units to understand market risk exposures across Solvency II (SII), IFRS and liquidity.
• Identify inefficiencies and opportunities for optimisation across the balance of assets and financial risks.
• Develop and embed investment and risk management strategies and frameworks within Group/divisional ALM activity.
• Ensure a strong connection between the macroeconomic environment and implications for efficient Group ALM; propose scenario testing and identify rebalancing opportunities to protect against downside risk and enhance value.
• Manage and develop high-quality exec/board management information to support senior decision-making.
• Support the Head of Group ALM to bring key proposals to the Group Asset and Liability Committee (chaired by the Group CFO).
• Develop systems to improve the efficiency and sophistication of the Group’s ALM Framework.
• Collaborate with the 2nd line Group Risk Team to ensure appropriate challenge and oversight.

Qualifications

Who we’re looking for

• Investment professional or qualified actuary or accountant with relevant investment/ALM experience.
• Strong understanding of investments, hedging and capital markets.
• Strong understanding of Solvency II and IFRS elements related to ALM (including Matching Adjustment and capital requirements).
• Ability to understand the implications of market and non-market events across IFRS, Solvency II, and liquidity.
• Ability to create and deliver clear written documentation or reports and to analyse technical data to provide succinct summaries.
• Ability to develop code-based tools (e.g., Python, R).
• Experience in managing and communicating with senior stakeholders is desirable.

Benefits and Additional Information

• Annual bonus plan and valuable share schemes.
• Generous pension contribution and life assurance.
• Healthcare plan and 27 days holiday plus public holidays, with option to buy/sell holiday.
• Competitive family leave and electric car salary-sacrifice scheme (for permanent employees).
• Discounts on company products and at various retailers.
• Modern, wellbeing-focused workspace with flexible working options where possible.

Additional Information At L&G, we believe it’s possible to generate positive returns today while building a better future for all. We are committed to a welcoming, inclusive culture with opportunities to collaborate across diverse backgrounds. Flexible working arrangements are discussed on a case-by-case basis.