Actuary (AFS)

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.

Support delivery of core oversight tasks of the Actuarial Function. This includes validation and oversight of the calculation of actuarial liabilities and the actuarial oversight of pricing, underwriting and reinsurance across Canada Life UK. Oversee Canada Life Limited (“CLL”) Partial Internal Model (“PIM”) methodology, PIM calibration and 1st line validation of PIM. Ensure PIM governance and processes are maintained and work effectively. Deliver high quality and effective PIM reporting to meet the needs of senior management and Board.

Support the Head of Actuarial Function Oversight and Partial Internal Model (“Head of AFS & PIM”) and Actuarial Function Holder (AFH) in their responsibilities to establish and maintain the actuarial governance processes and to provide overview and challenge to actuarial deliveries and to the broader activities of the business as appropriate. This position is London based.

Key Responsibilities:

• PIM First Line Governance, Oversight and Reporting - Support AFO team in 1st line PIM governance responsibilities including oversight of PIM methodology, annual recalibration of the PIM, and producing regular high-quality reports on PIM performance for management and Board committees.
• Actuarial Control Frameworks – Support the AFO team to deliver, oversee and implement actuarial control frameworks, ensuring insight and commentary for senior managers and boards is written to a high standard.
• Oversight (non-PIM) - Delivery of core oversight tasks of the Actuarial Function, including validation and oversight of the methodology and assumptions used in the calculation of actuarial liabilities.
• Reporting – Support the Head of Actuarial Function Oversight and Partial Internal Model in the production of actuarial reports to management and Board.
• Risk Management System implementation - Support the Head of Actuarial Function Oversight and Partial Internal Model to provide effective implementation of the CL risk management system.
• Wider team success – Support the Head of AFO & PIM in ensuring the success of the wider team through effective communication and stakeholder management.

Technical Expertise:

• Developing expertise in 1 or more areas within the function, demonstrating sound understanding of complex statistical methods and models.
• Validating the work of non-qualified and other recently qualified actuaries.
• Good knowledge of a variety of actuarial models and controls and their commercial application.
• Advanced MS Excel skills demonstrating efficient use of spreadsheets.

Communication:

• Excellent analytical and report writing skills.
• Ability to explain complexities in a straightforward way to audiences of differing levels of understanding.
• Proven communication, influencing and negotiation skills.

Relationship Building:

• The ability to develop and maintain strong relationships across the actuarial function.
• Flexibility in style and approach to achieve successful outcomes.

Planning and Use of Initiative:

• Willing and capable of taking decisions independently to progress issues.
• Able to effectively plan, organise and execute their own work with minimal supervision.
• Identify opportunities for improving processes and propositions.

Developing Self:

• An interested and inquisitive individual committed to ongoing professional and personal development.
• Strong commercial awareness and understanding of the needs of the business.
• Fellow of Institute 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.

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 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 DEI, and we continue for it to be a significant focus.

We appreciate that everyone has different work and life responsibilities. We’re happy to discuss flexible working arrangements for any of our roles should this be a requirement for you.