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PRT Apprentice 2024

Employer
Legal & General
Location
Hove, East Sussex, United Kingdom
Salary
Competitive Salary
Closing date
May 31, 2024

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Job Role
Finance Apprentice
Sector
Finance
Contract Type
Apprenticeship
Hours
Full Time
Company Description

Are you looking for an exciting opportunity to earn while you learn?

The L&G Apprentice programme has been designed to help you reach your potential. You will develop your skill set, gain valuable work experience and complete a fully funded professional qualification, all whilst earning a competitive salary with access to outstanding employee benefits.

With support every step of the way and access to core skills training, you will contribute to the success of a team and be supported by your line manager. As part of a cohort of apprentices, you will also have the opportunity to connect with your peers and colleagues though networking opportunities and social events.

Joining L&G is the beginning to a future that will be anything but familiar. So take a closer look, get involved, be curious and find out how we will enable you to be at your best no matter who you are.

This role is due to start September 2024 and is a fixed term contract. The salary for the role is £22,000 per annum.

We recruit on a rolling basis and expect this vacancy to close before the deadline. To be in with the best chance of securing a role, please submit your application ASAP

What does the team do?

Our award winner Pensions Risk Transfer (PRT) Client Services team are looking for apprentices to join the division, across a variety of teams. This is an exciting opportunity as the team are the longest standing UK provider of bulk annuities and whichever team you may join, by the end of the apprenticeship you will understand the end-to-end journey of a Defined Benefit Pension Risk scheme.

The PRT Client Services team are formed of the following teams, and you will be placed within one of them for the duration of your apprenticeship.

Payroll

The Pension Payroll team manages the transition of pensioner payrolls from external providers to Legal & General, ensuring the accuracy of the pensioner data and investigating and resolve any anomalies. The team also provides support to brokers, scheme trustees, and internal teams throughout the transition until the scheme benefits are finalised.

Transitions

The Transitions team oversees the end-to-end transition of defined benefit pension schemes moving from external providers to Legal & General. They work with pension schemes, trustees, advisors, and administrators to ensure efficient and timely scheme transitions. The team attend meetings with clients and internal teams, maintain comprehensive project plans and action logs, and review member data and benefits to deliver a great client and customer experience.

Loading Services

The Loading Services Team loads deferred member data and scheme benefit data as part of the on-boarding process for defined benefit pension schemes, that have entered into a de-risking arrangement with Legal & General, onto the internal the administration platform. The team are also responsible for issuing key customer communications throughout the on boarding process.

Customer Services

The Customer Services team provide our customers with the support they require by handling all customer claims in efficient and effective manner. This includes reviewing customer records and communicating the scheme benefits to members and intermediaries to ensure we meet our customers' needs in a way that ensures we are Treating Customers Fairly.

OST

The Operational Support Team ensure a smooth transition of the processing of manual calculations of buy-in and buy-out schemes. They support the maintenance of scheme data, administrating, and updating individual member records, handle all aspects of customer claims work efficiently and effectively to the satisfaction of customers. The team also provides support on manual calculations to ongoing and new schemes into client services.

CRIS

The Collateral and Reinsurance Services team fulfil contractual terms related to ceding PRT business risk to third-party reinsurers. The team onboard new reinsurance arrangements, provide reports illustrating claims due for the underlying scheme members, and facilitate settlements between parties where necessary.

Job Description

What you'll be doing

Join us on an 13 month programme which includes sponsorship to study for an industry recognised Professional Qualification, whilst building your business acumen.

You'll receive on the job training and coaching from your line manager. Alongside this you'll complete training workshops and assignments, delivered by a leading apprenticeship training provider. Combined, these will fully equip you to be successful in your role, with the knowledge and skills required to apply to real world business challenges.

During your apprenticeship you will:
  • Have guidance from your team and manager who will support you and teach you the day-to-day role
  • Apply the knowledge and skills that you've learnt from your training into the role
  • Be part of a big team and develop your collaboration skills
  • Have the opportunity to meet and network with new colleagues within your team, but also across the wider organisation
Below are key accountabilities you will learn, based on the team you would join:

Payroll
  • Support the management of buy-in payments, ensuring accurate and timely completion of all payments and true up calculations to ensure that Trustees have the required funds to make payments to the customers
  • Assist with supporting clients both internally and externally to ensure that all enquiries are resolved in accordance with the relevant SLAs.
Transitions
  • Support Transition Consultants by attending client and internal calls and drafting minutes.
  • Maintain project plans and action logs to ensure timely delivery of ongoing transitions.
  • Manage the team mailbox which includes fact-finding and investigative work for requested information, referring to Subject Matter Experts as required.
  • Assist with daily finance activities such as finance audit related queries, bank account monitoring, updating DMS and reporting regularly to the Finance department
Loading
  • Analyse scheme data and build calculation models
  • Load scheme benefits to the administration system and complete test calculations to ensure customers are accurately quoted and paid in line with the benefit specification and agreed SLAs.
  • Support production and issue of member correspondence, liaising with external third parties as appropriate within agreed timescales to notify customers of their policy and benefit entitlement.
Customer Service
  • Accurately record workflow onto the appropriate systems as part of the daily post process, maintaining effectiveness, efficiency, and quality checking.
  • Assist with supporting customers both internally and externally to ensure that all enquiries are resolved in accordance with the relevant SLA
  • Ensure all internal customers and any relevant third parties are kept updated in a timely fashion on any key information which impacts their processing to enable them to treat the end customer fairly
OST
  • Accurately record workflow onto the appropriate systems as part of the daily post process, maintaining effectiveness, efficiency, and quality checking.
  • Learn how to and support the team with processing manual calculations of buy-in and buy-out schemes.
  • Assist with supporting customers both internally and externally to ensure that all enquiries are resolved in accordance with the relevant SLAs.
CRIS
  • Manage a Reinsurance scheme in line with the Benefit Specification, to ensure that we meet our customers' needs.
  • Support the management Reinsurance payments, including those loaded to appropriate internal system and those calculated on spreadsheets, making sure all payments and external reports are completed accurately and within the agreed timescales to ensure that the needs of our Reinsurers are met.
  • Assist with supporting clients both internally and externally to ensure that all enquiries are resolved in accordance with the relevant SLAs.
Qualifications

What we're looking for

The person who would most benefit and enjoy this programme is hungry to learn and eager to get started in the world of work. We're not expecting prior industry experience, but we'll want to see that you have the aptitude, potential and desire which will ultimately lead to you being successful. We'll teach you the rest!

To qualify for the programme, you will need:
  • GCSE Maths grade C/4 or equivalent
  • GCSE English grade C/4 or equivalent
  • Minimum 96 UCAS points from your Level 3 Qualifications e.g. A 'levels or equivalent
  • To not currently be on a government funded training course, e.g. on apprenticeship
  • The right to work in the UK and have lived in the UK or EEA for the past 3 consecutive years.
Additional Information

At each step we'll give more information and clear instructions on what actions you need to take and how you can prepare. You'll be assessed at each of these steps.

In brief, our assessment stages process will include:
  • CV Application:
    This will be reviewed to ensure you meet the basic requirements for the role, we do not require work experience for entry level roles and understand that C.Vs may not have huge amounts of detail at this stage of your career
  • Online Assessment and Video Interview:
    We will ask some questions that will help us understand your motivation for L&G and the Apprenticeship we are offering
  • Assessment Centre:
    Comprised of a competency-based interview, group activity and an individual work based activity
  • Provisional Offer subject to enrolment:
    If you are successful in the assessment centre, you'll receive a provisional job offer, the final step will be for you to enrol on the training course. Once this is complete, we can officially offer you the job!
Legal & General is a leading financial services organisation, named Britain's Most Admired Company in 2023, for the second year running. Rated top in our sector and top for inspirational leadership, we have a strong heritage and an exciting future.

We're one of the world's largest asset managers, homebuilders, pension providers and insurers.Connecting to form a unique business model which drives value for our customers and society. And enabling our people to create impact through work that is meaningful and valued.

If you join us, you'll be part of a welcoming, inclusive culture, with opportunities to collaborate with people of diverse backgrounds, views, and experiences. Guided by leaders with integrity who care about your future and wellbeing. Empowered through initiatives which support people to develop their careers and excel.

We strive to be open, mindful, and inclusive, so are always willing to discussing flexible working arrangements and reasonable accommodations for candidates with specific needs. It doesn't matter if you don't meet every single criterion in this advert. Instead, think about what you excel at and what else you can bring in terms of strengths, potential and connection to our purpose.

If you're open to find out more, we'd love to hear from you.

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