ALM Reporting Actuary

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 are looking for an ALM Reporting Actuary to lead responses to daily and ad hoc ALM questions as well as own and explain the weekly asset and liability information used across Institutional Retirement Finance. This role is for someone who can combine actuarial judgement with strong asset knowledge, turn complex movements into clear insight and improve the technology and controls behind reporting. We welcome candidates from life insurance and pensions, as well as relevant investment, banking or consulting backgrounds where the underlying ALM and actuarial knowledge is strong.

What you'll be doing:

Leading accurate, timely responses to daily and ad hoc ALM requests alongside ownership of weekly ALM MI

Reviewing changes in interest rate and inflation exposures and explaining P&L movements

Assessing the ALM impact of proposed trades, new assets, new PRT schemes and reinsurance activity

Producing concise analyses of change and escalating unusual results

Turning technical outputs into clear stakeholder communication and decision insight

Strengthening reporting processes, controls, governance and documentation

Developing automation and technology-enabled reporting solutions

Supporting changes to systems, methods and the connection between weekly and month-end reporting

Who we're looking for:

Nearly or Newly Qualified Actuary

Strong understanding of investments, ALM, asset models, hedging or market risk

Experience producing, reviewing or analysing actuarial or financial reporting

Ability to explain movements and technical conclusions clearly to non-specialists

Strong Excel and data analysis skills

Evidence of ownership and delivery under regular deadlines

Confidence working across actuarial, investment, risk and finance teams

Interest in automation, with Python, R or similar experience welcomed

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 (permanent employees only)

At least 25 days holiday, plus public holidays, 26 days after 2 years’ service. 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 (permanent employees only)

There are many discounts we offer – both for our own products and at a range of high street stores and online

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.