Actuarial Financial Engineer

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  Location

  (UK) and London

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  Job Reference

  18031

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  Functional Area/Experience

  Business, Accounting & Finance / Fresh Graduate

Job Description & Qualifications

We are currently looking for a Nearly/Newly Qualified Actuary to join our Risk Analytics `Internal Model Production Team' as a Financial Engineer.

As a Financial Engineer you will be responsible for producing results from the Internal Model for the Group’s Regulatory Capital Reporting and for a wide range of ad-hoc purposes as requested by our colleagues in both Legal & General Retirement Institutional (LGRI) and elsewhere across the Group. This will include supporting the analysis of change in capital results and performing capital calculations for `what-if' scenarios, such as market stresses or potential impacts of writing new business.

You will also get involved with Internal Model change through testing model developments and helping to ensure their smooth transition into production.

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

• Performing Internal Model capital calculations for regulatory reporting, analysis of change and what-if runs using the AlgoOne system to ensure that Internal Model reporting requirements are met.
• Delivering results with the required accuracy, within agreed timescales and following the required process controls to maintain the quality of the Internal Model Production team’s deliveries.
• Liaising with customers to help define requirements where necessary, and coordinating with others in the Internal Model Production team and affected stakeholders, to ensure that customer requests are actioned and prioritised appropriately.
• Assisting with customer queries on the Internal Model to support capital reporting teams with their understanding of the model and analysis of results.
• Advising team members and Business Unit teams on complex issues surrounding risk management and capital modelling.
• Supporting the validation of asset results from the Internal Model for profit-and-loss attribution and the validation of capital results.
• Testing Internal Model changes, in collaboration with the development team and relevant stakeholders in Risk Analytics or the Business Units to ensure that model changes are fit for purpose and follow the required Internal Model governance.
• Training others in the team and maintaining appropriate process documentation for supporting the development of others and mitigating any key person risk.
• Responding appropriately to any TCF (Treating Customers Fairly) issues which may arise, to support compliance with TCF regulations.

About you

• Qualified Life Actuary, or Nearly-Qualified Actuary with sufficient experience.
• Knowledge of the Solvency II regulations governing the calculation of capital requirements.
• Understanding of the key risk exposures for different types of life insurance products, i.e. the drivers of capital for different types of assets or liabilities.
• Understanding of requirements for Business Units analysis-of-change and what-if requests to ensure these are analysed and actioned appropriately.
• Competency within model configuration and setting up inputs with a high level of accuracy and attention to detail.
• Understanding of risk modelling or risk management processes. And liaising with internal groups to identify and support the development of new risk management approaches.
• Experience and confidence in working with financial models, at a technical level and with analysing results.
• Effective communication with others in Risk Analytics and our business customers to understand their requirements and for dealing with queries.
• Ability to identify potential improvements to processes or the quality of deliveries, and provide input into potential solutions.
• A focus on delivery and attention to detail for ensuring high quality deliveries.
• Ability to estimate and manage own work to keep within planned timescales
• Some past software development experience or coding skills (Algo RiskWatch, Python, C++, VBA or other languages) would be advantageous

When you commit to Legal & General, we’ll commit to you too. That means we’ll recognise and reward your hard work, your performance and your contribution.

If you join us, you’ll get access to some great benefits, including private medical insurance, 27 days holiday (excluding bank holidays), a generous pension scheme, life assurance, and Income Protection. If you are a Qualified Actuary you'll also receive a car allowance of 12% of your annual salary, and you can participate in our electric car scheme, which offers employees the option to hire a brand new electric car through tax efficient salary sacrifice. We’re also proud to offer competitive family leave.

You’ll have the opportunity to participate in our annual, performance-related bonus plan and valuable share schemes. And then there are the many discounts we offer that you can take advantage of - both for our own products and at a range of high street stores and online offerings.

The brand with the brolly is choosing today to change tomorrow.

Since 1836, we’ve grown to become one of the world's largest asset managers, homebuilders, pension providers and insurance brands.

We’re all here to improve the lives of our customers, build a better society for the long term, and create value for our shareholders - helping to shape a better future for society and the planet.

We need people who share our ambitions, agility and entrepreneurial spirit to help us do it.

At L&G, you’ll find a balance that helps you be your best. Empowered by hybrid working, we’re supported by technology and workplaces that enable us to work effectively wherever we are. We come together in offices to collaborate and connect, and use time at home for individual, focused activities. And, when we achieve great things, we celebrate our success and reward strong performance.

Today, there’s over 10,000 of us, working towards our mission, with plenty of opportunities to grow your career as we grow L&G. Will you join us?

Securing pensions over the long term can be a challenge for many businesses. Our ambition at Legal & General Retirement Institutional (LGRI) is to help companies and pension scheme trustees honour their defined benefit pension promises to their employees. We’re helping companies settle their pension liabilities so they can focus on growing their businesses, as well as helping to support their members’ financial security in retirement. And we’re investing for the long term to back our pension promises. In the last 30 years we’ve written more UK business than any other insurer, and we currently look after more than half a million pension policyholders. We're the UK’s longest-serving active bulk annuity provider, and a market-leading, multi-award winning business.

Great minds don’t have to think alike, so we welcome voices from all backgrounds. Bringing together people with different life experiences helps us build empathy with our customers and drive innovation.

We don’t just talk about it, we actively promote diversity and equitable opportunities for all. That means our employment decisions are made without regard to race, colour, religion, national or ethnic origin, sex, sexual orientation, gender identity or expression, age, disability or protected veteran status. In fact, we embrace every dimension of diversity to reflect the customers and communities we serve.

We think it’s important to create an inclusive environment where we can all belong, contribute and drive progress, where you can develop and grow, and be empowered. We want you to use your voice to help us build a better tomorrow.

We all work differently, and have different needs, which is why. we’re always open to discussing flexible working arrangements. Likewise, we’re committed to finding reasonable accommodations for candidates with specific needs during our recruiting process.

So whoever you are, wherever you are, whatever your story, we'd love to hear from you.

If this opportunity excites you but you’re not sure you meet all the requirements, or you’d like to know a bit more, please contact Jordan Russell at jordan.russell@landg.com (LinkedIn profile: https://www.linkedin.com/in/jordan-russell-70ab89169/).

If you’d like to be considered for this role, please submit your application through our careers website as we’re not accepting email applications.

Job Skills/Competencies Required

• Competency within model configuration and setting up inputs with a high level of accuracy and attention to detail.
• Experience and confidence in working with financial models, at a technical level and with analysing results.
• Effective communication with others in Risk Analytics and our business customers to understand their requirements and for dealing with queries.
• Ability to identify potential improvements to processes or the quality of deliveries, and provide input into potential solutions.
• A focus on delivery and attention to detail for ensuring high quality deliveries.
• Ability to estimate and manage own work to keep within planned timescales