Actuary (Structuring & ALM Strategic Programmes)
Location: London Office
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.
Job Purpose
• Support the company's balance sheet optimisation efforts and development of the company's balance sheet optimisation model
• Develop and implement new asset structuring solutions as part of the company's investment strategy and risk management toolkit
• This position would suit a newly or recently qualified actuary with either investments, capital or life insurance experience.
This position is located in our London City office
Key Accountabilities
Asset Structuring:
• Support in the production of business cases for potential new asset structuring solutions to support Canada Life's annuity investment strategy. This will cover high level MA and PIM treatment, economic and balance sheet impacts, identifying steps to operationally implement the new asset structuring solutions, and presenting the business case to senior stakeholders.
• Contribute to the implementation and embedding of structured asset solutions scoped for further development, in conjunction with other members of the ALM department.
• Contribute to detailed analysis of items covered in the business case, including but not limited to contribution to the production of prototype models for the respective asset classes, engaging with stakeholders in other departments on the implementation of the plans, and feed into the work of other ALM teams (e.g. internal model and rating methodology development) as a result of new asset structuring proposals.
Balance Sheet Optimisation:
• Support efforts to expand Canada Life's MA portfolio, including performing the necessary analyses, engaging with stakeholders across departments following the appropriate governance process.
• Input into the drafting of Canada Life's MA Application where applicable for structuring solutions within agreed timelines, including engaging with stakeholders and presenting at governance committees alongside other team members.
• Contribute to the solution design, specification and setting of requirements for Canada Life's Balance Sheet Optimisation model. This will include contributing to the production of detailed plans, model development (in Python and Julia), engagement with stakeholders in Canada Life Asset Management and wider ALM teams, governance and documentation.
Desired Knowledge / Experience / Skills
• Knowledge of Solvency 2 regulations and the Matching Adjustment
• An understanding of the workings of an insurance company balance sheet, capital requirements and rating methodologies for structured assets
• A good understanding of the workings of an insurance company balance sheet
• Experience in coding in Python
• 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.
• Effective communications skills and the ability to adapt the message to the audience, including presenting key information and conclusions to senior stakeholders at the appropriate level of detail
• Demonstrates personal drive, energy, persistence and self-motivation and awareness of the needs of the wider business
• Good time management and the ability to work effectively under time pressure
Qualifications
Fellow of the Institute and Faculty of Actuaries (or equivalent)
Benefits of working at Canada Life
We believe in recognising 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 behaviours 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 you.]]>