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About the Role
Lead our approach to GMP Equalisation, ensuring accurate, fair, and transparent delivery of member benefits. Establish clear policies, robust methodologies, and effective governance for this technically complex element of DB Pensions.
Responsibilities
- Owning and developing our policy and methodology for GMP equalisation
- Maintaining clear documentation, governance and controls across relevant actuarial approaches
- Specifying, testing and signing off developments to GMP equalisation systems and tools
- Ensuring compliance with applicable legislation, case law, tax guidance and industry guidance
- Overseeing GMP equalisation models in line with end-user computing standards
- Partnering with New Business PRT colleagues to develop and communicate our proposition
- Supporting engagement with consultants, trustees and pension scheme sponsors
- Providing accessible training and technical guidance to actuarial and non-actuarial colleagues
Requirements
- Typically, a Fellow of the Institute and Faculty of Actuaries, with relevant post-qualification experience
- Extensive knowledge of Defined Benefit Pension Schemes
- Significant experience advising DB Schemes on all aspects of GMP Equalisation
- Strong understanding of the relevant legal, regulatory and industry-guidance environment
- Experience leading complex, multidisciplinary projects or programmes
- Evidence of improving processes, controls or technical approaches
- Strong judgement, strategic thinking and decision-making skills
- A clear, inclusive communication style, with the ability to influence technical and non-technical stakeholders alike
Skills
- GMP Equalisation
- Defined Benefit Pensions
- Policy development
- Methodology development
- Governance
- Controls
- Actuarial approaches
- System development
- Tool development
- Legislation compliance
- Case law compliance
- Tax guidance compliance
- Industry guidance compliance
- Model oversight
- End-user computing standards
- Proposition development
- Stakeholder engagement
- Training delivery
- Technical guidance
- Communication
- Influence
Location
- London, One Coleman Street
Work Type
- Hybrid
- Permanent
Experience Level
- Experienced
Education Level
- Fellow of the Institute and Faculty of Actuaries
Benefits
- Annual, performance-related bonus plan
- Valuable share schemes
- Generous pension contribution
- Life assurance
- Healthcare Plan
- 30 days holiday, plus public holidays
- Competitive family leave
- Electric car scheme
- Discounts on own products
- Discounts at high street stores and online
About the Company
- 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.
- L&G Institutional Retirement looks after around 700,000 institutional customers who have their retirement benefits secured with us.
- Operating continuously in the UK market from our entrance in 1987, we are the UK’s longest-running insurer.
- Our Institutional Retirement business is the UK’s longest-serving active bulk annuity provider.
- Institutional Retirement is the only insurer to have been operating continuously in the UK market from our entrance in 1987 to the present day.
- Our UK retirement annuity book stands at an estimated £86.1 billion at 31 December 2023.
- Across our retail and institutional retirement businesses, we look after more than 1 million customers, around c.700,000 of whom are institutional customers who have had their retirement benefits secured with us.
- We’re creating net‑zero carbon workplaces by 2030 by investing in our sustainable, modern offices across the UK, all designed to bring people together and elevate the in‑person experience.
- 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 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.