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- Tasks: Lead capital management initiatives and enhance modelling capabilities at Canada Life.
- Company: Join Canada Life, a trusted name in financial services since 1903, focused on building better futures.
- Benefits: Enjoy a competitive salary, generous pension, private medical insurance, and flexible working options.
- Why this job: Be part of a dynamic team that values innovation, collaboration, and personal growth.
- Qualifications: Fellow of the Institute and Faculty of Actuaries or equivalent required; strong communication and technical skills essential.
- Other info: Diversity and inclusion are key commitments; flexible working arrangements available.
The predicted salary is between 60000 - 84000 ÂŁ per year.
Location: London.
Team: Capital Development
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
Contribute to the delivery of the capital strategy of Canada Life Limited through:
- Implementation of a range of capital management actions, with a focus on funded reinsurance.
- Ensuring operational readiness of processes arising from capital actions undertaken.
- Identification and implementation of tactical improvements to capital models.
- Development of new systems and processes to support ambitions to enhance capital modelling capabilities.
Reports to the Head of Capital Development
Key Accountabilities
- Contribute to the implementation of strategic initiatives for Canada Life Limited to optimise capital/liquidity requirements and manage the risk exposure of the company in line with company risk appetite, tolerance limits and overall Enterprise Risk Management framework.
- Own specific capital management initiatives or tasks, with a strong focus on delivery in agreed timelines.
- Support the effective management of projects, through strong communication and proactive risk management.
- Communicate regularly with senior stakeholders to ensure necessary items are reviewed, decisions are made and to provide regular updates on progress and issues.
- Work with and influence a broad range of stakeholders from across several departments within Canada Life as well as external parties.
- Ensure that operational readiness is achieved through effective development and handover of ongoing processes arising from strategic initiatives.
- Own the identification and implementation of process improvements to enhance capital modelling capabilities for the UK division of Canada Life.
- Own improvements to the ability to forecast, project and stress test Canada Life’s capital positions, covering both Solvency II & LICAT capital regimes.
- Support the strategic aims of the Finance department to modernise systems and technology used, with a focus on enhancing capital modelling capabilities and outcomes, as well as improving the efficiency of existing capital modelling processes.
- Identify and implement tactical improvements to existing capital modelling processes to provide quick wins that provide improved analysis or process efficiency, while longer term modernisation activities progress.
- Ensure that operational readiness is achieved through effective handover of improvements and new processes.
Desired Knowledge / Experience / Skills
- Proven ability to act independently as well as working as part of a wider team.
- Demonstrated personal drive, energy, persistence and self-motivation and awareness of the needs of the wider business.
- Strong communication skills (able to communicate with a wide variety of stakeholders across Canada Life, and articulate technical and complex issues clearly both verbally and in writing to senior and junior audiences).
- Delivery focused, with strong organisational skills and the ability to take a pragmatic solution if required.
- Strong technical skills including either financial reporting or Solvency II knowledge/experience.
- Good understanding of the UK regulatory environment.
- Ability to apply actuarial techniques to business problems and to see wider implications.
- Good working knowledge of reinsurance and other capital management techniques used by annuity providers.
- Experience of implementing significant process improvements and a desire to work with new systems and technologies.
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.
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 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 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.
“At Canada Life we believe in the power of great people from different backgrounds, experiences and perspectives coming together to build better futures. Emerging talent is crucial to our growth and creating an environment that continues to inspire us all.” Nick Harding, Chief People Officer, Canada Life UK
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.
Senior Actuary (Capital Development) employer: Irish Life
Contact Detail:
Irish Life Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Actuary (Capital Development)
✨Tip Number 1
Familiarise yourself with the latest developments in capital management and Solvency II regulations. This knowledge will not only help you understand the role better but also demonstrate your commitment to staying updated in a rapidly evolving field.
✨Tip Number 2
Network with professionals in the actuarial field, especially those who work in capital development or similar roles. Engaging with industry peers can provide valuable insights and potentially lead to referrals that could enhance your application.
✨Tip Number 3
Prepare to discuss specific examples of how you've implemented process improvements in previous roles. Highlighting your practical experience in enhancing capital modelling capabilities will set you apart from other candidates.
✨Tip Number 4
Showcase your communication skills by being ready to articulate complex actuarial concepts clearly. Practice explaining technical issues in simple terms, as this will be crucial when interacting with various stakeholders at Canada Life.
We think you need these skills to ace Senior Actuary (Capital Development)
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience and skills that align with the Senior Actuary role. Focus on your expertise in capital management, financial reporting, and any specific projects that demonstrate your ability to implement process improvements.
Craft a Compelling Cover Letter: Your cover letter should reflect your understanding of Canada Life's mission and values. Discuss how your background and skills can contribute to their capital strategy and operational readiness, and express your enthusiasm for the role.
Highlight Communication Skills: Given the importance of communication in this role, ensure you provide examples of how you've effectively communicated complex issues to various stakeholders. This could be through previous job experiences or projects where you had to present technical information clearly.
Showcase Problem-Solving Abilities: Demonstrate your ability to apply actuarial techniques to business problems. Include specific instances where you've identified and implemented tactical improvements or process enhancements, particularly in capital modelling or risk management.
How to prepare for a job interview at Irish Life
✨Understand the Capital Management Landscape
Familiarise yourself with the key concepts of capital management, particularly funded reinsurance and Solvency II. Being able to discuss these topics confidently will demonstrate your technical expertise and understanding of the role.
✨Showcase Your Communication Skills
Prepare to articulate complex actuarial concepts clearly and concisely. Practice explaining technical issues in simple terms, as you will need to communicate effectively with a variety of stakeholders, including senior management.
✨Demonstrate Project Management Experience
Be ready to discuss your experience managing projects and delivering results within tight timelines. Highlight specific examples where you successfully implemented process improvements or capital management initiatives.
✨Emphasise Your Teamwork and Independence
Illustrate your ability to work both independently and as part of a team. Share examples that showcase your personal drive and how you have collaborated with others to achieve common goals, especially in a cross-departmental context.
