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Form of work
Salary This is a permanent opportunity to join Canada Life UK, but the team will also consider applicants seeking fixed term contracts.
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
We are looking for a part qualified actuary to support the Annuities Valuation team, currently seven in number. The role will be to provide support for calculating statutory reserves and capital for the UK Annuities Business. The role works closely with other teams within the Finance Accounting & Reporting department, as well as the Financial Planning and Analysis, Actuarial Support, Pricing and Risk functions.
Key Accountabilities
1) Produce, assist with or review the production and interpretation of financial analysis within their line of business or function.
- Calculation, analysis and explanation of technical reserves and capital on both a UK and Canadian basis.
- Maintenance and development of valuation processes and models.
- Embedding of new bulk annuity schemes within BAU reporting
- Supporting the calculation of the reinsurance accounts
2) Produce, or assist in the production, of regular departmental, business or regulatory reports and analysis including providing support and inputs to Experience Analysis and Profit & Loss Attribution.
3) Support accurate and insightful commentary to immediate line management. The role holder will be developing sound understanding of statistical and financial models as well as the ability to practically and tangibly interpret analysis and make recommendations.
4) Support and make recommendations on the continuous improvement of department processes and procedures, taking 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.
5) Taking part in and making a valuable contribution to different roles via the actuarial student rotation scheme as well as actively studying for the actuarial exams and making acceptable exam progress, as determined by the company and in line with company study policy
Desired Knowledge / Experience / Skills
Technical Expertise
• Developing knowledge and understanding of different actuarial disciplines including via student rotation.
• Developing the ability to interpret as well as analyse financial information to provide insight for immediate line management.
• Developing knowledge of a variety of statistical methods, models and controls, and their commercial application/implication.
• Ability to develop and modify actuarial systems and spreadsheets, developing understanding of their commercial application/implication.
• 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
Communication:
• Strong analytical, verbal and report writing/drafting skills.
• Can explain complexities/technical content in a straightforward and accurate way with coaching or support from managers to a wide variety of stakeholders.
Relationship Building:
• A team player able to work under pressure and to deliver to tight timescales
• The ability to develop and maintain strong relationships across the actuarial function, acting with integrity and being a role model for the company values at all times
• Being able to flex their style and approach to different individuals, with occasional coaching and support, in order to achieve a successful outcome.
• Taking part in and making a valuable contribution in different roles via actuarial student rotation.
Problem Solving & Accurate Judgement:
• Able to effectively plan, organise and execute their own work with little supervision, making management aware of conflicting priorities and readjusting their workload accordingly.
• Good problem solving skills and attention to detail, being able to identify issues and interdependencies, recommending a course of action with support and guidance from colleagues.
• Can make some 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.
• Proactive in approach to tasks and taking on new responsibilities.
Developing Self
• Actively studying for actuarial exams, usually being over half-way through their qualification.
• An interested and inquisitive individual who is committed to their own ongoing professional and personal development.
• Developing the ability to apply technical actuarial techniques and understand business/commercial implications.
Degree (or equivalent) in Finance, Mathematics, Statistics or related field
Part qualified Actuary
Post-graduate qualification in Finance, Mathematics, Statistics or 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 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 coll
