Head of Financial Management - Change | London, UK

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.

Purpose of the role:

The role holder will oversee the commercial performance of the CLUK change portfolio ~£40 million, and the programmes and projects of which it is comprised. Focusing on the funding and delivery of the Portfolio and its benefits in the context of the UK Business Strategy and Plan.
Leads the preparation of the annual operating expense or ‘opex’ (net of amortisation) budget for the CLUK change portfolio. Accountable for the construct, maintenance, and use of balance sheet provisions which fund strategic initiatives.
Role holder is accountable for the analysis of actual change portfolio spend and production of opex forecasts for the change portfolio and will work closely with key stakeholders, inclusive of UK Senior Leadership, Finance Leadership, and the Change Delivery team.
Leads the production and presentation of timely, relevant and accurate Management Information to the UK Transformation Committee, Strategic Execution Committee, UK Executive Committee, and Lifeco to support timely and fully-informed business decision making.

What you’ll do:

• Oversees the financial management of the UK Change Portfolio – from an operating expense perspective (i.e. net of amortization). In doing so, this Head of function role is responsible for:
• Overseeing the Change Delivery team’s estimates, allocation and tracking of cash spend relative to budget – where appropriate, diagnosing the root cause of variances.
  • Identifying and approving the capitalization of assets (in accordance with company policy), and maintaining a complete and accurate forward-looking amortization profile.
  • The production, maintenance, and presentation of change portfolio opex forecasts.
  • Engage with key stakeholders to identify and manage risks to the opex budget and benefits profile.
• Build and maintain relationships with key senior stakeholders inclusive of the UK Senior Leadership Team and Change Delivery to oversee the construct, maintenance, and use of balance sheet provisions used to fund strategic initiatives.
• Oversees the Finance function’s review and recommendations on all programme and project business cases, tollgate funding requests, and status updates ensuring alignment to the organisational business strategy and plan.
• Engages with Executive and Operational Sponsors, and other key stakeholders (including members of steering groups) to validate budget, forecast and benefit realisation assumptions. In doing so, the role holder is expected to consult with / challenge senior leaders in order to ensure expense and benefit targets are met.
• Working with Executive and Operational Sponsors, oversees and validates the delivery and reporting of financial and non-financial benefits. This intelligence should also be used to inform asset impairment reviews.
• Oversees the maintenance and preparation of standard MI to track the delivery of the change portfolio from an opex perspective and its benefits. Oversees the production of the Finance-owned slides / information in the Transformation Committee and Strategic Execution Committee reports and, where required, attends and presents to these key governance forums.
• Leads ad hoc projects / reviews to identify options to improve the commercial performance of the change portfolio or initiatives within it – in doing so, collaborates with the Finance, Strategy and Change Delivery teams.
• Works with the Chief Financial Officer, Financial Performance Management Director, Head of Strategy, and Head of FP&A to ensure that the business plan and forecasts accurately reflects the UK change portfolio’s forward-looking benefits profile.
• Collaborates with the Financial Performance Management Director and Head of FP&A to oversee the production, review and, where required, presentation of business performance updates for the LifeCo parent company, UK HoldCo and subsidiary boards, and Executive Committee.

What you’ll bring to the role:

Technical Expertise

• Qualified Accountant with extensive and wide-ranging experience of UK financial services – ideally in the insurance industry
• Demonstrable track record of operating in a Finance oversight role in a financial services organisation
• Strategic understanding in a UK financial services context – ideally in the insurance industry
• Excellent quantitative business analytical skills
• Strong financial and risk management skills

Communication

• Excellent communication skills – able to address technical and non-technical audiences in formal and informal settings

Relationship Building

• Experience of building and leveraging internal / company and external network
• Strong ability to collaborate with experts and interested parties from across the business to influence, obtain input and buy-in
• Excellent stakeholder management skills at all levels up to and including C-Suite

Taking Initiative

• Proactively identifies and manages risks

Developing Self and Others

• Strong leadership and team development skills
• Ability to provide constructive feedback and share opinions to line manager, team members, and other colleagues in a timely and constructive manner

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.

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. #J-18808-Ljbffr