Duration: 6-9 month fixed term contract.
Location: Can be located within our London, Potters Bar or Bristol office (Hybrid working, but an expectation of minimum 2 days per week 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, our intermediaries and our 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.
Job Purpose
As an experienced qualified actuary at Canada Life you will be responsible for leading actuarial, statistical and financial insight and analysis to senior management, overseeing analysis and insight produced by other actuaries where appropriate and leading small to medium sized teams of qualified and part-qualified actuaries and analysts. Using your significant specialist technical expertise and solid commercial understanding you will take a lead within the team and function to advise the business and influence decisions, ensuring that we are managing risk to the business in line with Canada Life's risk appetite, complying with our statutory responsibilities and meeting the needs of our policyholders and regulators.
This role is an FTC for six to nine months to support the Actuarial Reporting teams over year-end reporting, in particular, capturing the impact of several internal projects and change initiatives.
Key Accountabilities
- Accountable for providing accurate modelling, financial analysis, advice and support to a range of areas of the business, taking ownership for making considered and commercially astute recommendations. Utilising your subject matter expertise in your actuarial discipline to analyse risk factors to demonstrate understanding and management of risk exposure to the organisation, taking accountability for appropriate action to manage and, where appropriate, mitigate risk exposure.
Leading risk analysis activity within your discipline, you will be responsible for effectively operating cross-functionally across the business on BAU and project activities, where the key to success will be demonstrating initiative combined with your ability to collaborate and influence senior stakeholders across different team and disciplines and other areas of the Canada Life group.
- Communicate to senior executives (Executive Director Individual Business, CFO, Head of Actuarial Function and other Heads of function and Director level stakeholders), in an appropriate manner, the impact, financial and otherwise, of the various actuarial investigations, reports, recommendations and analyses and provide recommendations to senior executives to ensure successful business operation.
Additionally, using your experience and your deep knowledge of the business and the work done by your team, you will consider developmental opportunities, making recommendations to your line manager to improve operational efficiency and competitive advantage.
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Initiating and overseeing the production of regular reports and annual/longer term plans undertaken by other actuaries, taking accountability for leading the continuous review and improvement of department processes and procedures. Your oversight will take into account up-to-date industry developments and issues to ensure to ensure the provision of a timely, accurate, commercial and efficient actuarial service to the business and key stakeholders across the business.
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Oversee and implement actuarial control frameworks, initiating regular review of appropriate actuarial controls and analysis. Ensuring insight and commentary for senior managers and boards is written to a high standard and complies with legislation and our own internal control requirements.
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Manage, coach, develop and motivate a team of qualified and part-qualified actuaries in order to optimise the performance of the team in line with the Divisions objectives. You will be responsible for reviewing the recommendations of qualified and part-qualified actuaries and providing feedback, coaching and mentoring to support their development.
Desired Knowledge / Experience / Skills
Technical Expertise
- Strong commercial awareness and understanding of the needs of the business. Will be able to apply technical actuarial techniques and understand business/commercial implications
- Understand complex statistical and financial models across a range of actuarial disciplines, as well as the expertise to interpret and recommend commercially astute courses of action; constructively challenging and helping develop others' thinking and understanding.
- Significant experience in the life insurance industry and is a subject matter expert in a number of disciplines within the function
- Proven ability to lead on high-profile projects, utilising experience in project management techniques to deliver complex projects on-time, in-full.
- Willing and capable of taking difficult and complex decisions independently in order to progress issues, and able to exercise sound judgement and commercial sense to understand the importance of different issues and assess when matters need to be escalated.
- Experience in IFRS17 and Solvency II financial reporting, particularly in the context of annuity products
Qualifications:
- Fellow of Institute of Actuaries (or equivalent).