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Canada Life is hiring a

Senior Actuarial Trainee

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.

As a senior actuarial trainee at Canada Life, you will be responsible for providing actuarial, statistical and financial insight and analysis to management. You will have the opportunity to advise the business or management to ensure that we are managing risk exposure to the business in order to satisfy our statutory responsibilities as well as the needs of policyholders and that of our regulators.

Canada Life rotates our students approximately every 18-24 months. The 1st team for this position is responsible for the pricing of equity release mortgage products and ensuring that appropriate actuarial controls and monitoring of pricing are in place. They also ensure maintenance of and compliance with corporate policies and standards.

  • Work collaboratively with colleagues to design and price products to deliver volumes and margins.
  • Development and maintenance of the MI process and produce the weekly MI and NB pipeline in a timely fashion.
  • Provide appropriate support to managers and others to implement recommendations/facilitate change to support the requirements of the business.
  • Support accurate and insightful commentary to immediate line management. The role holder will be developing a sound understanding of statistical and financial models as well as the ability to practically and tangibly interpret analysis and make recommendations.
  • Support and make recommendations on the continuous improvement of department processes and procedures, taking 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.
  • Taking part in and making a valuable contribution to different roles via the actuarial student rotation scheme as well as actively studying for the actuarial exams and making acceptable exam progress, as determined by the company and in line with company study policy.

Technical Expertise

  • Developing knowledge and understanding of different actuarial disciplines including via student rotation.
  • Developing the ability to interpret as well as analyze financial information to provide insight for immediate line management.
  • Developing knowledge of a variety of statistical methods, models and controls, and their commercial application/implication.
  • Ability to develop and modify actuarial systems and spreadsheets, developing understanding of their commercial application/implication.
  • Intermediate to advanced MS Excel skills demonstrating efficient use of spreadsheets and basic data manipulation skills.
  • Ability to deliver work to a consistently high standard under tight time pressure with attention to detail.


  • Strong analytical and report writing/drafting skills.
  • Can explain complexities in a straightforward and accurate way with coaching or support from managers.

Relationship Building:

  • The ability to develop and maintain strong relationships across the actuarial function, acting with integrity and being a role model for the company values at all times.
  • Being able to flex their style and approach to different individuals, with occasional coaching and support, in order to achieve a successful outcome.
  • Taking part in and making a valuable contribution in different roles via actuarial student rotation.

Problem Solving & Accurate Judgement:

  • Able to effectively plan, organize and execute their own work with little supervision, making management aware of conflicting priorities and readjusting their workload accordingly.
  • Good problem-solving skills and attention to detail, being able to identify issues and interdependencies, recommending a course of action with support and guidance from colleagues.
  • Can make some decisions independently in order to progress issues, and able to exercise sound judgment and commercial sense to understand the importance of different issues and assess when matters need to be escalated.
  • Proactive in approach to tasks and taking on new responsibilities.

Developing Self

  • Actively studying for actuarial exams, usually being over halfway through their qualification.
  • An interested and inquisitive individual who is committed to their own ongoing professional and personal development.
  • Developing the ability to apply technical actuarial techniques and understand business/commercial implications.

Degree (or equivalent) in Finance, Mathematics, Statistics or related field. Post-graduate qualification in Finance, Mathematics, Statistics or related field (not essential).

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 for.

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