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- Tasks: Support pricing strategies and collaborate on innovative solutions in the Lifetime Mortgage Pricing Team.
- Company: Join Legal & General, a leading UK financial services group dedicated to safeguarding financial futures since 1836.
- Benefits: Enjoy hybrid working, generous holidays, performance bonuses, and discounts at various retailers.
- Why this job: Be part of a dynamic team creating brighter financial futures while developing your actuarial skills.
- Qualifications: Nearly/newly qualified actuary with strong analytical skills and a customer-focused mindset.
- Other info: Flexible working options available; we value your strengths and potential over strict criteria.
The predicted salary is between 36000 - 60000 £ per year.
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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.
L&G Retail supports the savings, protection and retirement needs of around 14 million people, through our portfolio of retail and workplace businesses.
Our Retail division helps people enjoy a more colourful retirement, both directly and through their employers, including Lifetime Mortgages, Retirement Interest Only Mortgages and financial advice on our range of lending products.
We are the UK\’s number one individual life insurer, and also provide Group Protection products for employers – all helping people to plan for the unexpected. We support home buying through our Mortgage Club – the UK\’s largest – and our award-winning Surveying Services team. And our fintech team finds and supports socially useful start-ups and scale-ups working in the workplace, home, insurance and wealth areas.
Joining us means helping create brighter financial futures for all our customers.
Job Description
We\’re currently recruiting for an Assistant Commercial Actuary to join our dynamic Lifetime Mortgage Pricing Team.
In this role, you will support the commercial management of our Lifetime Mortgage business, by contributing to innovative solutions and maximising Group value.
This is a hybrid working opportunity which means you can split your working week between your home and our central London office to find a work/life balance that works for you.
What you\’ll be doing:
- Supporting the design and delivery of pricing strategies in collaboration with stakeholders to gain competitive advantage
- Identifying and developing variants of existing LTM products to better manage the risk profile
- Working closely with lenders to deliver new product initiatives, focusing on financial business cases, risk management, and developing pricing and reporting models
- Monitoring and managing the risk profile of all LTM portfolios, implementing techniques for improving risk selection
- Collaborating with key stakeholders to determine pricing strategies, rating, and capital treatment of new products
- Ensuring business processes and internal controls deliver good customer outcomes and align with Treating Customers Fairly (TCF) principles
- Contributing to discussions on potential changes to product design to better meet customer needs
- Supporting work on international markets, including Dutch retirement lending
Qualifications
Who we\’re looking for:
- A nearly/newly qualified actuary (via the IFoA or equivalent institute) with relevant work experience
- Excellent knowledge of actuarial techniques and awareness of relevant regulations, including Solvency II
- Experience in lifetime mortgages and/or pricing is desirable (but not essential)
- Strong communication skills with the ability to present results clearly to various stakeholders
- Demonstrated achievement drive and flexibility in adapting to change
- Strong analytical and judgement skills with a focus on customer orientation
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
- At least 25 days holiday, plus public holidays, 26 days after 2 years\’ service. There\’s also the option to buy and sell holiday
- Participate in our electric car scheme, which offers employees the option to hire a brand-new electric car through tax efficient salary sacrifice (permanent employees only)
- There are 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 our people 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.
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ASSISTANT COMMERCIAL ACTUARY employer: Legal & General
Contact Detail:
Legal & General Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land ASSISTANT COMMERCIAL ACTUARY
✨Tip Number 1
Network with professionals in the actuarial field, especially those who have experience in lifetime mortgages. Attend industry events or webinars to connect with potential colleagues at Legal & General and gain insights into their work culture.
✨Tip Number 2
Familiarise yourself with the latest trends in pricing strategies and risk management within the financial services sector. This knowledge will help you engage in meaningful conversations during interviews and demonstrate your proactive approach.
✨Tip Number 3
Prepare to discuss how you can contribute to the company's mission of creating brighter financial futures. Think about specific examples from your past experiences that align with their values and customer-oriented approach.
✨Tip Number 4
Showcase your analytical skills by being ready to solve hypothetical problems related to pricing and risk management during the interview. This will highlight your capability to think critically and adapt to the dynamic nature of the role.
We think you need these skills to ace ASSISTANT COMMERCIAL ACTUARY
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience and skills that align with the Assistant Commercial Actuary role. Focus on your actuarial qualifications, any experience with lifetime mortgages, and your analytical skills.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for the role and the company. Mention specific aspects of Legal & General's mission and values that resonate with you, and explain how your background makes you a great fit for their team.
Highlight Relevant Skills: In your application, emphasise your knowledge of actuarial techniques and regulations like Solvency II. Also, mention your strong communication skills and ability to present results clearly, as these are crucial for collaborating with stakeholders.
Showcase Adaptability: Demonstrate your flexibility and achievement drive in your application. Provide examples of how you've adapted to change in previous roles or projects, which will show your potential to thrive in a dynamic environment like Legal & General.
How to prepare for a job interview at Legal & General
✨Understand the Role
Make sure you have a solid grasp of what an Assistant Commercial Actuary does, especially in relation to Lifetime Mortgages. Familiarise yourself with pricing strategies and risk management techniques that are relevant to the role.
✨Showcase Your Analytical Skills
Prepare to discuss your analytical abilities and how they apply to actuarial work. Be ready to provide examples of how you've used data to inform decisions or improve processes in previous roles.
✨Communicate Clearly
Since strong communication skills are essential for this position, practice explaining complex actuarial concepts in simple terms. This will demonstrate your ability to present results clearly to various stakeholders.
✨Align with Company Values
Research Legal & General's commitment to customer outcomes and their Treating Customers Fairly (TCF) principles. Be prepared to discuss how your values align with theirs and how you can contribute to their mission of creating brighter financial futures.