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.

Job Purpose

• Development of new capability to contribute into 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.

Key Accountabilities

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, to assess merits of new asset structuring solutions, in collaboration with other ALM teams.
• Lead the implementation and embedding of structured asset solutions scoped for further development, in conjunction with other ALM teams.
• Conduct detailed analysis of items covered in the business case, including but not limited to setting the requirements of the production of prototype models for the respective asset structuring solutions, engaging with stakeholders in other departments on the implementation of the plans, participating in regulatory engagement and submission, and feeding into the work of other ALM teams (e.g. internal model and rating methodology development) as a result of new asset structuring proposals.
• 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 to support its utilisation in defined use cases. This will include contributing to the production of detailed plans, implementing those plans via controlled model development (in Python and Julia), engagement with stakeholders in Canada Life Asset Management and wider ALM teams and risk engagement, execution of governance processes and documentation.
• Support efforts to expand Canada Life\’s MA portfolio, including performing the necessary analyses, engaging with stakeholders across departments whilst following the defined governance process.
• Feed expert insight into future developments of Canada Life\’s investment strategy process in collaboration with other ALM teams in respect of Structured Asset Solutions.

Desired Knowledge / Experience / Skills

• Experience in asset structuring for insurance company balance sheets, in particular for Structured Credit, Equity Release Mortgages, other mortgage, or property linked assets, and/or long income 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 with demonstrable ability in spotting issues, interdependencies, and challenges to ensure work is produced to an accurate, commercial and informed standard.
• Effective communication skills and the ability to adapt the message to the audience, including presenting key information and conclusions to senior stakeholders at the appropriate level of detail.
• Demonstrates personal drive, energy, persistence and self-motivation and awareness of the needs of the wider business.
• Good time management and the ability to work effectively under time pressure.

Qualifications
Fellow of the Institute and Faculty 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. We have a fantastic number of other benefits and support services as well as regular personal and professional development.

Diversity and inclusion

Building an inclusive workplace with a diverse workforce where everyone can feel they belong and achieve their potential regardless of gender, ethnicity or any other characteristic 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.

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