Senior Commercial Pricing Analyst

Company Description

Legal & General 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 recruiting for a Senior Commercial Pricing Analyst to join our Retail Annuity business here at L&G.

In this role you will help to develop and enhance our pricing models by leveraging actuarial expertise and modelling / data science skills to optimise rate changes and improve pricing strategies, which will ensure that L&G maintains a competitive and profitable Retail Annuity offering.

This a hybrid working opportunity, which means that you can work flexibly from both our London Office and your home, so you can find a work-life balance that works for you.

What you'll be doing:

• Developing and maintaining sophisticated pricing models for Retail Annuity products. Incorporating actuarial concepts and advanced data analytics to ensure accurate and competitive pricing.
• Analysing market trends and competitor landscape to inform annuity pricing, whilst ensuring internal performance metrics are met for optimal pricing adjustments.
• Collaborating with Risk Pricing and other cross-functional teams to implement pricing improvements that align with business objectives and regulatory requirements.
• Providing commercial insights into the regular reviews of pricing assumptions and methodologies.
• Utilising modelling and data science techniques to extract insights from large datasets, identifying patterns and trends that inform pricing decisions and product development.
• Developing and maintaining documentation for pricing models, methodologies, and processes to lower keyman risk, ensure transparency and compliance with company and regulatory standards.
• Ensuring that customer outcomes and Consumer Duty are met within rate changes and pricing.
• Mentoring junior team members to help contribute to the overall knowledge base of the pricing team.

Qualifications

Who we're looking for:

• Preferably a Nearly/Newly Qualified Actuary (e.g. Fellow of the Institute and Faculty of Actuaries or equivalent)
• Data Science skills or strong data modelling experience is highly desirable.
• Knowledge of data science techniques and their application in actuarial work - such as pricing methodologies.
• Advanced Excel skills, including VBA (as a minimum) with strong programming skills in R and/or Python being preferable.
• Experience with data visualization tools (e.g., Tableau, Power BI, Streamlit) is highly desirable.
• Familiarity with relevant regulatory requirements and accounting standards.
• Understanding of investment principles and asset-liability management.
• Awareness of current trends and developments in the annuity market.
• Strong analytical and problem-solving capabilities.
• Good verbal and written communication skills.
• Ability to manage self, by working on multiple projects concurrently and meeting deadlines.
• Experience managing small projects or more junior members of staff is desirable.

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   
• Private medical insurance
• 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 
• There are the 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

Legal & General is a leading financial services group and major global investor, named Britain’s Most Admired Company in 2023, for the second year running. Rated top in our sector and top for inspirational leadership, we have a strong heritage and an exciting future.

We aim to build a better society for the long term by investing our customers’ money in things that make life better for everyone.

If you join us, you’ll be part of a welcoming 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 strive to be open, mindful and inclusive, so are always willing to discussing flexible working arrangements and reasonable accommodations for candidates with specific needs.

If you’re open to find out more, we'd love to hear from you.