Actuarial Analyst (BPA Pricing)

Please note this position is not part of our Actuarial Trainee Scheme and does not provide study support.

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 organization. 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.

Job purpose:

As part of growing our BPA business, we are looking for a number of analysts roles to support our Operations, Pricing, and Proposition & Projects teams.

Key Accountabilities:

• Review of pension scheme reports/data to put together data schedules and benefit specifications between Canada Life and Scheme Trustees. To ensure data and benefit specifications are complete and accurate in all respects including legislative requirements.
• Using your understanding of actuarial concepts and models to calculate premiums and/or premium true-ups, trivial commutations, and other member options using actuarial processes, modeling systems, spreadsheets, and reporting tools.
• Create quality reports to ensure a strong understanding of results, analysis, and to allow the appropriate processing of downstream activities, for example, administration updates, reinsurance accounting, premium changes, project plans, and resource tracking.
• Support the review of products, processes, and/or reporting of BPA function and/or market. E.g. supporting business readiness activity. Proactively identifying and suggesting improvements to line management.
• Clear and accurate written and verbal communication of data, actuarial, and modeling reports to line management and the wider business. E.g. Project initiation documents, KIRA, etc.
• Working in a team with great diligence to ensure the modeling of data is accurate and complete.
• Collaborative working across Canada Life to ensure efficient systems and processes are in place.
• Ensure decisions taken with a Customer focus and supporting customer proposition from a pricing perspective.
• Adopt and consistently act in line with our Blueprint (behaviors and strategic drivers).

Desired Knowledge / Experience / Skills:

• Strong technical skills and knowledge of Defined Benefit pension schemes and the legislative requirements of pension schemes.
• Comprehensive understanding of the UK regulatory environment.
• Able to build relationships and gain trust and respect at all levels.
• Demonstrates personal drive, energy, persistence, self-motivation, and awareness of the part played in the wider business.
• Strong communication skills (able to communicate technical and complex issues both verbally and in writing to senior audiences, including non-actuaries).
• Ability to apply actuarial techniques to business problems and to see wider implications.

Benefits of working at Canada Life:

We believe in recognizing and rewarding our people, so we offer a competitive salary and benefits package that’s regularly reviewed. As a Canada Life UK colleague, you’ll receive a competitive salary and comprehensive reward package including a generous pension and bonus scheme, along with income protection, private medical insurance, and life assurance. We have a fantastic number of other benefits and support services as well as regular personal and professional development.

How we work at Canada Life:

Our culture is unique and incredibly important to us. We care about doing the right thing for our people, customers, and community and helping others to build better futures. Our blueprint behaviors shape and influence how we work and are central to the relationships we have with others.

Every day we are encouraged to be more curious, own the outcome, face into things together, and find a way forward. We want colleagues to have rewarding careers with us so we invest in the development of our people, technology, and workplaces. That’s why we offer a range of training, flexible working, and opportunities to grow and develop.

Diversity and inclusion:

Building an inclusive workplace with a diverse workforce where everyone can feel they belong and achieve their potential regardless of gender, ethnicity, or any other characteristic is a key commitment for us. We are proud of the progress we’re making in DEI, and we continue for it to be a significant focus. “At Canada Life, we believe in the power of great people from different backgrounds, experiences, and perspectives coming together to build better futures.

Emerging talent is crucial to our growth and creating an environment that continues to inspire us all.” Nick Harding, Chief People Officer, Canada Life UK. 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.