and that’s thanks to the talented and dedicated people who work with us. For us, social responsibility’ is not just a buzzword.
It defines us and runs through everything we do for our customers and as an employer. And working with us, you’ll get a competitive reward package and have the flexibility and autonomy to deliver your personal, business and career goals.
With around one million customers, our retail business helps turn customers’ pension savings into lifelong retirement income and our corporate business looks after our defined benefit pension schemes ensuring they are effectively managed to protect against risk and achieve their maximum potential.
L&G Retirement Institutional is one of the leading player in the pension derisking market offering longevity, buy in, buy out and other innovative solutions to the defined benefits / final salary pensions schemes.
We are one of the very few insurers who provide an in-house end to end derisking solution which includes our market leading onboarding, implementation and scheme administration proposition.
We wrote more than £7bn of new business in 2017 and with the increasing growth in this market, this is a great time to join this division.
We are an equal opportunities employer and welcome applications from all suitably qualified persons regardless of their race, sex, disability, religion / belief, sexual orientation or age.
The Client Services team is responsible for the onboarding and ongoing administration of all new business. The purpose of this role is to work with Employee Benefit Consultants and Pension Scheme Trustees of new Pension Risk Transfer (PRT) business and oversee the end to end scheme implementation.
Key responsibilities of this role include
Reconcile scheme member data and accurately & contractually record the benefits secured. This provides a legal contract between L&G and the Trustees and a document for the future administration of the scheme.
Analyse scheme benefits and data to ensure completeness for final costing and downstream administration. Ensure the all teams within Client Services are kept aware of the scheme benefits and any technical system changes can be planned.
Draft legal agreements that allow all benefits to be properly administered by the Client Services administration areas. Perform first line peer review for team members on Benefit Specifications and external emails and internal instructions.
Ensure that all teams within Client Services have the correct benefit specification and data to guarantee that the benefits set up on the various administration systems accurately reflect the legal agreement and the benefits costed.
Take responsibility for the progress of allocated schemes, including regular reviews, ensuring prompt and appropriate response to customer communications and the provision of relevant management information.
Assist less experienced team members as required. Meet specified internal quality and productivity levels set by the Installations Team Manager in order to achieve the throughput of new PRT business.
Ensure customers are provided with relevant information at appropriate times throughout the life of products to enable them to manage their reasonable expectations regarding the potential future benefits available.
Participate in Client meetings, demonstrating L&G’s capability and service. Support Business Development, Transaction and Transition Managers by offering advice on administration capabilities and attending site visits to gather an understanding of the quality of the data prior to transaction.
Assist in the delivery of continuous improvement across Transition Management function. Ensure that the principles of Conduct Risk are embedded into the day to day operations to deliver good customer outcomes at all times.
Participate fully in processes that ensure all business processes and internal controls within your role are designed and performed in a way that delivers good customer outcomes and demonstrates effective management of Conduct Risk.
Project Management; Prince II desirable Pension qualifications; hold or working towards PMI desirable Minimum five years DB pension experience
Must have previous experience in the Pension Risk Transfer market, understanding the way benefits are structured and administered in Defined Benefit schemes.
Knowledge of pension’s regulations for DB schemes, including a detailed understanding of the requirements for schemes in the course of wind-
up. Keeps up to date with any legislative changes affecting the Client Services area. Has knowledge of relevant legislation and regulatory requirements such as GDPR, money laundering, complaints, treating customers fairly and breach guidelines.
Highly customer focused and understands the need to maintain and improve relationships with both internal and external customers.
This includes policyholders, scheme members, legislative bodies, third parties and colleagues Experience of managing multiple projects and ability to prioritse and manage pressure.
Strong interpersonal skills and ability to communicate effectively at any level Ability to produce clear and well written communications Good problem solving, analytical and numercial skills Proficient in all Microsoft Applications and working with pension scheme administration systems.
Please note that there is also a G4 available that is currently being advertised.
Whatever your role, we reward ability, performance and attitude with a package that looks after all the things that are important to you.
Our employees have a wide range of benefits including a generous pension scheme, life assurance, 22 days’ (with potential to rise to 26 days) holiday, discretionary performance related bonuses, paid overtime, a variety of share schemes, discounts at both a huge range of high street stores and our own great products, your hard work will be rewarded when you join us.