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⛔️ Canada Life are no longer taking applications for this job.
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.
About the role
As an experienced qualified actuary at Canada Life you will be responsible for leading actuarial, statistical and financial insight and analysis to senior management, overseeing analysis and insight produced by other actuaries where appropriate and leading small to medium-sized teams of qualified and part-qualified actuaries and analysts. Using your significant specialist technical expertise and solid commercial understanding you will take a lead within the team and function to advise the business and influence decisions, ensuring that we are managing risk to the business in line with Canada Life’s risk appetite, complying with our statutory responsibilities and meeting the needs of our policyholders and regulators.
This role sits in Canada Life’s credit risk team and will work closely with the investment, finance, and actuarial functions. More specifically, this role is in a sub-team that focuses on the capital modelling and structuring of equity release mortgages and other illiquid assets. This includes:
- Analyzing data and making recommendations for modeling equity release mortgage risks captured in Canada Life’s Solvency II internal model
- Designing and rating equity release mortgage structured cashflows
- Improving rating and structuring efficiency for equity release mortgages and other illiquid asset classes
- Carrying out regular reporting including SCR calculations, stress and scenario testing, the equity release mortgage effective value test, and other results when requested
- As the role sits between multiple functions, it will work with multiple senior stakeholders such as the Chief Actuary, CFO, CRO, and CIO.
Accountable for providing accurate modeling, financial analysis, advice and support to a range of areas of the business, taking ownership for making considered and commercially astute recommendations. Utilizing your subject matter expertise in your actuarial discipline to analyze risk factors to demonstrate understanding and management of risk exposure to the organization, taking accountability for appropriate action to manage and, where appropriate, mitigate risk exposure.
Leading risk analysis activity within your discipline, you will be responsible for effectively operating cross-functionally across the business on BAU and project activities, where the key to success will be demonstrating initiative combined with your ability to collaborate and influence senior stakeholders across different teams and disciplines and other areas of the Canada Life group.
Communicate to senior executives (Executive Director Individual Business, CFO, Head of Actuarial Function and other Heads of Function and Director level stakeholders), in an appropriate manner, the impact, financial and otherwise, of the various actuarial investigations, reports, recommendations, and analyses and provide recommendations to senior executives to ensure successful business operation.
Additionally, using your experience and your deep knowledge of the business and the work done by your team, you will consider developmental opportunities, making recommendations to your line manager to improve operational efficiency and competitive advantage.
Initiating and overseeing the production of regular reports and annual/longer-term plans undertaken by other actuaries, taking accountability for leading the continuous review and improvement of department processes and procedures. Your oversight will take into account up-to-date industry developments and issues to ensure the provision of a timely, accurate, commercial and efficient actuarial service to the business and key stakeholders across the business.
Oversee and implement actuarial control frameworks, initiating regular review of appropriate actuarial controls and analysis. Ensuring insight and commentary for senior managers and boards is written to a high standard and complies with legislation and our own internal control requirements.
Manage, coach, develop and motivate a team of qualified and part-qualified actuaries in order to optimize the performance of the team in line with the Division's objectives. You will be responsible for reviewing the recommendations of qualified and part-qualified actuaries and providing feedback, coaching and mentoring to support their development. Develop the skills and knowledge of team members so that they have the expertise to achieve the business requirements, as well as maximizing individual development.
- Strong communication skills, demonstrating a clear and articulate standard of written and verbal communication in a complex environment, tailored for all levels of management, including Board level.
- Strong ability to adapt messages to the audience, without prompting or significant coaching, in a format that is easily understood by non-technical colleagues
- Strong influencing skills, with experience of engaging with Boards and senior management in order to get the desired outcome.
- The ability to develop and maintain strong relationships across the actuarial function and the wider business, acting with integrity and role modeling the company values at all times.
- Strong interpersonal/networking skills, with the ability to maintain a variety of relationships with multiple stakeholders.
- Ability to flex their style and delivery, in the moment, depending on the individual and/or audience.
- Exceptional problem-solving skills and attention to detail with demonstrable ability in spotting issues, interdependencies and challenges to ensure work is produced to an accurate, commercial and informed standard.
- Self-motivated, well-organized, pragmatic and able to perform tasks independently.
Developing Self and Others
- Strong skills and experience in managing and motivating a team from a diverse range of professional backgrounds and with varying levels of experience.
- Strong coaching ability in technical and non-technical skills to support the development of others.
- An interested and inquisitive individual who is committed to their own ongoing professional and personal development.
Qualifications and additional preferred experience
- Fellow of Institute of Actuaries (or equivalent).
- Have previously worked in capital modeling for a life insurance company and have a good understanding of the Solvency II SCR.
- Understanding of equity release mortgage modeling would be desirable.
- Understanding of illiquid asset structuring would be desirable.
- Experience in VBA, Matlab or Python be desirable.
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.
We appreciate that everyone has different work and life responsibilities. We’re happy to discuss flexible working arrangements, including part-time, for any of our roles should this be a requirement for you.
⛔️ Canada Life are no longer taking applications for this job.
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