Senior Actuarial Trainee (Reinsurance)

Location: Can be located in the London, Potters Bar, or Bristol office (there is an expectation of a minimum of 2 days per week to be in an 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, intermediaries, and employees by operating as a modern, agile, and welcoming organisation.

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.

Canada Life UK is currently looking for a part-qualified actuary to support the newly established Reinsurance Operations Team. As part of the team, you will have the opportunity to support regular reinsurance reporting and integrate new reinsurance treaties into the reporting framework. The role will also involve supporting the optimisation and modernisation of the reinsurance reporting processes.

You will work closely with other teams within the Finance Accounting & Reporting department, as well as the Financial Planning and Analysis, Actuarial Support, Pricing, and Risk functions. There will also be opportunities to liaise with reinsurers with the support of a manager.

• Produce, assist with, or review the production and interpretation of financial analysis within your line of business or function.
• Support the production of the reinsurance accounts.
• Support the delivery of regular reinsurance deliverables to reinsurers.
• Embed new reinsurance treaties into the reporting framework.
• Produce or assist in the production of regular departmental, business, or regulatory reports considering commercial and statutory considerations.
• Support accurate and insightful commentary to immediate line management.
• Develop a sound understanding of statistical and financial models and the ability to interpret analysis and make recommendations.
• Support and make recommendations on the continuous improvement of reinsurance reporting processes, ensuring the provision of a timely, accurate, commercial, and efficient actuarial service to the business and key stakeholders.
• Participate in the actuarial student rotation scheme and actively study for actuarial exams, making acceptable exam progress as determined by the company.

Desired Knowledge / Experience / Skills

• Technical Expertise: Developing knowledge and understanding of different actuarial disciplines, interpreting and analysing financial information, and understanding statistical methods and their commercial implications.
• 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.
• Knowledge of longevity swaps would be helpful but not essential.

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

• Relationship Building: Ability to develop and maintain strong relationships across the actuarial function, acting with integrity and being a role model for the company values.
• Flexibility in style and approach to achieve successful outcomes.

• Problem Solving & Accurate Judgement: Effectively plan, organise, and execute work with little supervision. Good problem-solving skills and attention to detail.
• Can make some decisions independently and exercise sound judgement.
• Proactive in approach to tasks and taking on new responsibilities.

• Developing Self: Actively studying for actuarial exams, committed to ongoing professional and personal development.
• Developing the ability to apply technical actuarial techniques and understand business implications.

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

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. Our blueprint behaviours shape and influence how we work and are central to the relationships we have with others. We encourage curiosity, ownership of outcomes, collaboration, and finding 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 is a key commitment for us. We are proud of the progress we’re making in diversity, equity, and inclusion, and we continue to focus on it.

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.