Senior Actuary (ERM & Structuring Lead)

As ERM and structuring lead at Canada Life you will be responsible for leading the development and operation of the capital model for Equity Release Mortgages, including calibration, reporting, rating and structuring. The role holder will also lead the investigation and implementation of structuring initiatives for new asset classes.

• Maintain the capital model for Equity Release Mortgage in line with Partial Internal Model (PIM) governance requirements:
  • Innovate proposals to make the model (and capital management more generally) more efficient and effective;
  • Identify changes required to the model, and communicate them to senior management. Lead on the implementation and testing of model changes in line with Model Change Standard;
  • Oversee validation testing required on the model;
  • Ensure ongoing compliance with EUC requirements and PIM model governance requirements;
  • Ensure model is maintained and operated within the intended control framework.
• Lead the structuring and rating operations for Equity Release Mortgages
  • Lead quarterly rating and fixed note issuance
  • Optimisation of fixed note issuance whilst maintaining credit rating
  • Lead the development of more efficient rating and structuring solutions
  • Explore structuring opportunity for new asset classes
• Provide guidance to the system development team and ensure the underlying model is based on signed-off methodology and assumptions.
• Manage, coach, develop and motivate junior member of the team to support their development.

Technical Expertise

• Strong capital modelling experience in credit risk space within life insurance industry.
• Prior experience with Equity release mortgages would be highly desirable
• Experience with rating and structuring for illiquid credit could be advantageous

Communication

• Strong communication skills, demonstrating a clear and articulate standard of written and verbal communication in a complex environment, tailored for all levels of management.
• Strong ability to adapt messages to the audience, without prompting or significant coaching, in a format that is easily understood by non-technical colleagues

Relationship Building

• The ability to develop and maintain strong relationships across the actuarial function and the wider business, acting with integrity and role modelling the company values at all times.
• Ability to flex their style and delivery, in the moment, depending on the individual and/or audience.

Taking Initiative

• 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-organised, 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 in order to support the development of others.
• An interested and inquisitive individual who is committed to their own ongoing professional and personal development

Fellow of Institute of Actuaries (or equivalent).

About Canada Life UK

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.

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.