Job Description Summary

Lloyds Banking Group (LBG) is the UK’s biggest Retail, Digital and Mobile bank with over 30 million customers and a big responsibility to help Britain Prosper.

Job Description

Grade C/D/E: Actuarial Role

Lloyds Banking Group (LBG) is the UK’s biggest Retail, Digital and Mobile bank with over 30 million customers and a big responsibility to help Britain Prosper.

We're looking to recruit for various part-qualified and qualified Actuarial roles within Insurance & Wealth Finance.

Our teams work out of our London, Bristol, Leeds and Edinburgh hubs so location can be flexible for these roles due to new ways of working but you'll need to be based a commutable distance from one of these areas. We work in a hybrid model, splitting our time between the office and working from home. 

About the roles

There are opportunities in the following teams:

• GI Customer Pricing – working in a team that sets home insurance premiums across multiple brands and distribution channels.
• GI Reserving – modelling the IFRS reserves and Solvency II technical provisions for GI, completing deep dives into claims performance and working with wider business areas to understand drivers and trends.
• Rectifications – ensuring that policies are managed in line with the policy provisions, policyholders’ expectations and FCA requirements.
• Credit and Actuarial Development – the team is responsible for how we value, assign credit ratings to and hold capital against credit assets used to back annuities (e.g. bonds and loans).
• Capital and Liquidity Management – supporting the production and analysis of capital and liquidity MI as well as the capital and liquidity management of the Insurance entities.
• Deputy Chief Actuary team – working in a team that develops and maintains methodologies and forward-looking assumptions for assessing risk factors for LBG and delivers the ORSA and Chief Actuary Report.
• Shareholder ALM – supporting the production, analysis and hedging activities associated with the management of market risk.
• Bulk Annuity Pricing Services – the team is responsible for implementing the pricing strategy for Bulk Annuities, working closely with the Insurance Origination business to deliver quotes, using live market data, demographic and capital assumptions.
• Demographic Assumptions and Methodology Team – supporting the Bulk Annuity Pricing Services Team by setting, communicating and delivering demographic assumptions which are tailored to each scheme’s portfolio of members.
• Technical Pricing Team – developing pricing assumptions and pricing methodologies across products that underpin the risk price, as a foundation for robust commercial pricing decision making.
• Individual Annuity Pricing Services – the team is principally responsible for ensuring our individual annuity rates are competitive and reflect current market conditions.

About you

You’ll be a part-qualified or qualified actuary, or have equivalent qualifications and experience, with:

• Relevant experience.
• Excellent communication skills, both written and verbal.
• Ability to engage and manage a range of stakeholders, including at a senior level.
• Ability to work independently, structure your own work, and deliver projects.

You'll also be:

• Confident and proactive in your approach to delivery.
• Curious in nature, and not afraid to ask questions to deepen your understanding.
• Committed to the continuous improvement.

Employment with LBG offers fantastic opportunities for career progression and personal development.

What you'll get in return?

In addition to a competitive base salary, the position also offers:

• Discretionary Performance Share Award
• Generous pension contribution
• A flex benefits cash pot you can adjust to suit your lifestyle (4% on top of your basic salary)
• Private health cover
• Share schemes
• 24-30 days holiday, dependent on grade, plus bank holidays

In return for your expertise, you’ll enjoy our total dedication to your ongoing personal and professional development.

So if you have the skills we’re looking for, we’d love to hear from you... We'll help you perform at your best today, so you can fulfil all your potential in the future. We know that success is built from the inside out through our people. Our customers’ experience and success start with yours.

LBG is committed to building a workforce which reflects the diversity of the customers and communities we serve, and to building an inclusive environment where all our colleagues can be themselves and succeed on merit. We're an equal opportunity employer and deeply value diversity within our organisation.

Together we make it possible!

At Lloyds Banking Group, we're driven by a clear purpose; to help Britain recover. Across the Group, our colleagues are focused on making a difference to customers, businesses and communities. With us you'll have a key role to play in shaping the financial services of the future, whilst the scale and reach of our Group means you'll have many opportunities to learn, grow and develop.

We're focused on creating a values-led culture and are committed to building a workforce which reflects the diversity of the customers and communities we serve. Together we’re building a truly inclusive workplace where all of our colleagues have the opportunity to make a real difference