Senior Actuarial Analyst (Bulk Annuities)

Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation.

Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleagues.

Canada Life UK is transforming to create a more customer-focused business by providing our customers with expertise on financial and tax planning, offering home finance and annuities propositions, and providing collective fund solutions to third party customers.

Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation.

Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleagues.

Canada Life UK is transforming to create a more customer-focused business by providing our customers with expertise on financial and tax planning, offering home finance and annuities propositions, and providing collective fund solutions to third party customers.

The purpose of the role:

As a Senior Actuarial Analyst at Canada Life you will be responsible for calculating, checking and reviewing premium true-up calculations using actuarial techniques and methodology.  You will be part of the Bulk Annuity Pricing team and will have responsibility to ensure that the data verification process is completed accurately, in line with our policy obligations and in a timely manner, always ensuring an excellent level of service to our customers./p>

What you'll do:

• Review pension scheme reports/data to agree legally binding final data and benefit specifications between Canada Life and scheme trustees. To ensure final data and benefit specifications are complete and accurate in all respects including legislative requirements.
• Calculate premium true-ups, trivial commutations and other member options using actuarial processes and reporting tools.
• Work independently and autonomously to ensure the modelling of data updates is effectively communicated and understood by our customers and colleagues.
• Produce quality reports and engage multiple teams across the business to ensure strong understanding of results, analysis and to allow the appropriate processing of downstream activities including administration updates, reinsurance accounting and premium changes/
• Develop processes and capabilities to calculate benefit modifications.
• Ensure compliance with Company policies and regulatory requirements.

You'll be accountable for:

• The role holder is accountable for delivering work in accordance with the timescales agreed by their immediate line manager and to an accurate standard expected of a professional acting in their capacity/
• Producing and communicating clear reports & analysis and financial position to management/
• They will be required to follow, appropriately and accurately, company and best practice risk management procedures to control, monitor and produce high quality work. Where appropriate they will recommend improvements to processes and procedures, to ensure compliance with relevant regulation and business standards/
• Taking responsibility for training, mentoring or formally line managing (where appropriate) less experienced team members.

What you'll bring to the role:

• Ability to operate actuarial systems to produce results including the ability to change parameters and assumptions
• Ability to understand actuarial & financial concepts and their application to their work
• Ability to produce accurate analysis with an appropriate audit trail
• Confidence and clarity in explaining findings and their implications when making proposals to or creating reports for senior management and audiences across teams
• Ability to implement and maintain a control framework
• Intermediate to advanced MS excel skills demonstrating efficient use of spreadsheets and advanced data manipulation skills
• Ability to deliver work to a high standard under tight time pressure with attention to detail
• Role-specific knowledge including bulk annuity products & market and defined benefit pensions.

What you’ll like about working here

As a Canada Life UK colleague, you’ll receive a competitive salary and comprehensive reward package including income protection, private medical insurance and life assurance, along with a generous pension and bonus scheme. You’ll also receive the support you need with your personal and professional development.

Diversity and inclusion

Canada Life is committed to a diverse and inclusive workplace. Our role as an employer of choice is to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences