Legal & General Reinsurance is a Bermuda-based specialist life reinsurer. We are the global reinsurance hub of Legal & General Group Plc, a multinational financial services company established in 1836, and we provide life reinsurance solutions to clients in the UK, Europe, US and Canada. 

This is an exciting opportunity for a qualified actuary to join our team. The Senior Capital Management Actuary will play a critical supporting role in executing Legal & General’s Bermuda based business strategy. L&G operates three commercial reinsurance entities based in Bermuda, each facing different liabilities and markets. The role holder will be required to work across all three entities, which will entail gaining in-depth knowledge and experience across US, UK, Canadian and European products and regulatory frameworks.

Key accountables include:

• Manage the Company’s regulatory balance sheet including the framework for monitoring resilience of the Company’s solvency. Recommending actions to ensure this remains within the risk appetite determined by the Board. Provide insight into capital efficiency of strategic initiatives and new business opportunities.
• Provide actuarial and capital management support for Bermuda-oriented ad-hoc investigations and strategic projects. This could involve working as a committed project team member for several months on end.
• Independently review the assumptions used for the pricing of all new business and recommend adjustments as appropriate to relevant committees to ensure they remain consistent with the Group’s Pricing Standards.
• Recommend the assumptions and methodology used for the annual CISSA exercise. Provide oversight of the CISSA process and recommend actions to ensure the CISSA capital remains within risk appetite.
• Review adequacy of EBS Technical Provisions. Assist the Approved Actuary in the annual certification to the Bermuda Monetary Authority (“BMA”) on the adequacy of the valuation of Technical Provisions for EBS purposes, as well as the appropriateness of any dividend proposed by the Company.

Skills and Experience Required:

• Fully qualified Life Actuary.
• A minimum of five years of experience of pricing and/or reporting for UK, US, European and/or Canadian individual and bulk purchase annuity business. Detailed experience of one of these areas is essential, some experience of the other in addition is desirable. 
• Demonstrated ability to understand, apply, interpret, and effectively communicate technical aspects of complex financial and business transaction information, with a passion for presenting thought leadership and recommendations.
• Demonstrated ability to design and implement efficient, robust and effective actuarial processes, incorporating appropriate controls.
• A proven track record of excellent relationship management with peers and senior management, as well as international stakeholder management in a global organization.

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