Pensions Actuary - Group Pensions Risk Management

London / Hybrid working
£65,601 - £85,950 per annum + Package
06 Jul 2022
20 Jul 2022
Lloyds Banking Group
Contract Type
Full Time
0-25% Travel

At Lloyds Banking Group our primary purpose is to help Britain prosper…

Our Group Pension Risk Management team sits in our Group Treasury function with a focus on mitigating the risks associated with our £50bn defined benefit pension schemes, and their impact on the Group.

What's involved?

We're a small, high profile team that regularly interacts with senior management, providing technical expertise and guidance on the world of Pensions.

As a Pensions Actuarial specialist you'll become an integral team member and can expect to lead and support on a number of challenging activities, including:

  • Management of the impact to the Group of these pension schemes such as supporting on funding and investment strategy, valuation discussions, and many ad hoc initiatives.
  • The estimation and reporting of the Pension Balance Sheet, including articulating the Group-wide effects on its P&L and capital positions.
  • Engagement and collaboration with teams across Treasury, Risk, Finance, and Legal, as well as working with our external advisors. This helps drive forward our key activities including capital submissions, stress testing, forecasting and reporting, to name just a few.
  • Regular opportunities to write and present reports to senior management through the Pensions committee and other engagements including exposure to the Pensions Trustees through their governance forums.
  • Challenging key assumptions underpinning the valuation of our Pension Schemes, including demographics, longevity/mortality, and other financial assumptions.

Together we can make it possible!

What are we looking for in your background?

  • A qualified Actuary with outstanding analytical and modelling skills
  • The skills to be able to value a pension scheme and quantify the benefits members receive
  • Familiarity with actuarial concepts and accounting treatment of Pension Schemes
  • An understanding of a bank's balance sheet and how Pensions can impact on this.

So what do we want to see in your style?

  • You're able to communicate credibly and clearly, delivering consistent messages to a broad range of audiences. You'll care about translating complex concepts into simple messages.
  • You've a good record of nurturing collaborative relationships with key partners, and the ability to influence these groups.
  • Influencing discussions across a range of areas and teams, including the Pension Trustees.
  • You'll be excited to get stuck into a variety of activities to drive the team's success.

What we'll give you in return

We'll be dedicated to giving you the opportunities and support to develop both technically, professionally and personally to achieve your potential.

The team has adopted hybrid working with occasional working from our London hub location so you'll get the best of both worlds. We also support flexible working knowing that 'normal' office hours aren't always doable, we're happy to be have that conversation to see what might work for you!

As a leading employer we're passionate about diversity and equal opportunity with industry recognition across gender, ethnicity, disability, LGBTQ+ and families. It's our ambition to create an inclusive culture where all colleagues feel encouraged and valued. And, being disability positive, reasonable adjustments can be accommodated in our Recruitment process.

In addition to the salary quoted, the position also offers:

  • Discretionary Performance Share Award
  • Generous pension contribution of up to 15%
  • A flex benefits cash pot you can adjust to suit your lifestyle (4% on top of your basic salary)
  • Private health cover
  • Share schemes, including free shares
  • 30 days holiday plus bank holidays

So if you have the background we're seeking then get in touch, we'd love to hear from you!


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