LegalAndGeneral
Head of GMP Equalisation
Get notified of more jobs like this · No spam, ever
How your CV stacks up
Upload your CV to see how well it fits this job role
?%
Company Description
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.
Who we are
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.
Job Description
We’re looking for an experienced Pensions Actuary to join our Award-Winning Pension Risk Transfer Division as Head of GMP Equalisation.
In this newly created role, you will leverage your technical Defined Benefit Pensions expertise to lead our approach to GMP Equalisation. You will ensure that member benefits are delivered accurately, fairly and transparently, whilst also establishing clear policies, robust methodologies and effective governance.
You will work with colleagues across pricing, administration, technology and new business teams to provide clarity and guidance on a technically complex element of DB Pensions.
Reasons to use Rodeo
Start with a chat, not a search bar
Grad scheme, placement, apprenticeship? Not sure what you want yet — that's fine. Your agent talks it through with you and turns "I have no idea" into a shortlist.
It searches the market for you
Every day your agent scans the market matching roles against what actually matters to you, not just keywords on a CV.
Only hits
No noise. No "maybe this fits." Just roles with a clear explanation of why they're right — and where to focus when applying.
Whilst direct line-management responsibility is not part of the role requirements, you may over time become the technical lead of a small team who are responsible for the governance of our GMP Equalisation methodologies and assumptions.
This is a hybrid working opportunity, which will allow you to work flexibly between your home and the office, to help you find a work-life balance that works for you.
What you'll be doing:
- 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
Who we're looking for:
- 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
Benefits
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:
Get help with your application
Your very own career expert that helps elevate your application to the next level.
- The opportunity to participate in our annual, performance -related bonus plan and valuable share schemes
- Generous pension contribution
- Life assurance
- Healthcare Plan
- 30 days holiday, plus public holidays
- 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
- 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
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 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.
Permanent/Regular or Fixed Term Contract/Temporary: Permanent (UK and ROW) / Regular (US)
L&G Business Unit: Legal & General Retirement Institutional
L&G sub Business Unit: INSTITUTIONAL RETIREMENTS
Primary Location: London, One Coleman Street
Job Family: Actuary
“It took my CV and asked me questions relevant to understanding what kind of jobs to suggest for me. Suggestions were almost perfect. Jobs were exactly what I’ve been looking for.”
Jessica, London
Skills