Actuarial Analyst - Longevity Risk

As an Actuarial Analyst in Longevity Risk at Legal & General, your primary responsibilities will include developing and communicating longevity assumptions for year-end reporting, pricing, and capital requirements. You'll analyze mortality trends, contribute to ad-hoc longevity projects, and ensure effective communication of your findings to stakeholders. Your analytical skills will play a crucial role in providing insights that shape our business decisions.

To be eligible for the Actuarial Analyst position in Longevity Risk at Legal & General, you should be a part-qualified actuary making progress through the IFoA exams. While longevity experience is beneficial, it's not mandatory. Knowledge of statistical methodologies and strong problem-solving capabilities are essential. Proficiency in tools like Excel, and familiarity with modeling in languages such as R is also advantageous.

Essential skills for the Actuarial Analyst role in Longevity Risk at Legal & General include advanced Excel capabilities, strong analytical and problem-solving abilities, and excellent written and oral communication skills. You will need to effectively liaise with stakeholders and present complex analytical work in a clear and concise manner. Familiarity with longevity risk products such as individual annuities and longevity swaps can also be beneficial.

As an Actuarial Analyst at Legal & General, you will enjoy a competitive salary along with actuarial study support. Other benefits include performance-related bonuses, generous pension contributions, private medical insurance, and at least 25 days of holiday per year, with options to buy and sell holiday days. Join us and also take advantage of our electric car scheme and discounts across various retailers!

Absolutely! At Legal & General, we believe in nurturing talent and providing ample opportunities for professional development. As an Actuarial Analyst in Longevity Risk, you'll have the chance to collaborate with diverse teams, take on challenging projects, and enhance your skills. Our welcoming culture supports career progression and lifelong learning to help you excel in your chosen path.

Longevity risk refers to the risk that individuals will live longer than expected, which can affect pension funds and insurance companies. By understanding longevity risk, you can help develop better pricing, reserves, and financial strategies to ensure payout obligations. For the interview, highlight any relevant coursework, projects, or experiences you have related to this topic.

When developing mortality assumptions, I start by analyzing historical data trends and incorporating recent demographic information. I assess various factors that could impact life expectancy, such as economic indicators and health trends, to create robust models. It's important to stay flexible and adapt these assumptions based on ongoing research and insights, showcasing your willingness to learn continuously in your answer.

In my previous projects, I have used methodologies such as regression analysis, survival analysis, and stochastic modeling. I find that applying these techniques allows for a comprehensive understanding of longevity trends and would ensure precise assumptions and predictions for the company. Describe specific projects where you've successfully implemented these methodologies.

In a previous role, I worked on a project evaluating longevity projections. I created visual aids to distill complex data into understandable formats and presented these findings to stakeholders unfamiliar with the actuarial terminology. I emphasized clarity and relevance, which resulted in constructive discussions. To answer effectively, focus on communication styles and tools you used to facilitate understanding.

To ensure accuracy in modeling outcomes, I conduct rigorous testing and validation of models by comparing projections against actual outcomes. Periodic reviews and updates to assumptions based on the latest data also play a critical role. Highlight any specific software or techniques that aid in achieving accuracy, like scenario testing or peer reviews.

I employ a combination of historical data analysis, current health statistics, and economic conditions to monitor mortality rates effectively. I also regularly review academic literature for recent research developments in mortality trends. Discuss any tools or software you've leveraged to assist in monitoring and analyzing these rates.

When conflicting opinions arise, I prioritize understanding each stakeholder's viewpoint and underlying concerns. Then, I seek to facilitate a discussion where we can collaboratively assess evidence and data, aiming to identify common ground for informed decision-making. An appreciation for different perspectives while focusing on data can lead to solutions that balance diverse interests.

In my last role, I was a key contributor on a team project focused on developing pricing assumptions for annuities. I collaborated closely with team members, provided analytical insights, and ensured timely completion of our deliverables. In your response, emphasize teamwork and the specific value you added while showcasing your ability to communicate effectively with colleagues.

When facing tight deadlines, I assess tasks based on urgency and importance, using tools like planners or project management software to track progress. I communicate proactively with my team to redistribute tasks if necessary, ensuring deadlines are met without compromising quality. Discuss specific examples of how you've achieved this balance in busy periods.

I'm particularly drawn to Legal & General's commitment to financial security and its reputation for innovation in the insurance industry. The opportunity to help individuals secure their retirement aligns with my values. Additionally, the inclusive culture and focus on personal growth resonate with my professional aspirations. Share what excites you about their specific initiatives or culture.