Senior 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.

Key Responsibilities

• Development of new capability to contribute to the company’s long term investment strategy and risk management toolkit.
• Key contributor to the company's balance sheet optimisation efforts and development of the company's balance sheet optimisation model.
• This position would suit an experienced actuary with significant investments, capital, ratings, or life insurance experience.

This position is located in our London City office.

Asset Structuring

• Produce business cases for new asset structuring solutions to enhance Canada Life’s long term investment strategy.
• Develop matching adjustment treatment and eligibility view on new asset structuring solutions, and provide expert input into the development of preliminary rating and internal model methodologies.
• Lead the implementation and embedding of structured asset solutions scoped for further development.
• Conduct detailed analysis of items covered in the business case, including setting the requirements of the production of prototype models for the respective asset structuring solutions.
• Drive engagement with senior stakeholders to present findings and recommendations on new structuring solutions and guide them through governance.
• Construct process and governance frameworks for the ongoing management of structured assets in collaboration with other BAU teams.

Balance Sheet Optimisation

• Play a key role in solution design, specification and requirement setting for Canada Life’s Balance Sheet Optimisation model.
• Support efforts to expand Canada Life's MA portfolio, including performing necessary analyses and engaging with stakeholders across departments.
• Feed expert insight into future developments of Canada Life’s investment strategy process in collaboration with other ALM teams.

Qualifications

• Experience in asset structuring for insurance company balance sheets, particularly for Structured Credit, Equity Release Mortgages, other mortgage, or property linked assets.
• A good understanding of the workings of an insurance company balance sheet, capital requirements and rating methodologies for structured assets.
• Good knowledge of Solvency 2 Matching Adjustment regulations.
• Experience of coding in Python; additional experience in Julia will be an advantage.
• Exceptional problem-solving skills and attention to detail.
• Effective communication skills and the ability to adapt the message to the audience.
• Demonstrates personal drive, energy, persistence and self-motivation.
• Good time management and the ability to work effectively under time pressure.

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 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.

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, including part time, for any of our roles should this be a requirement for you.