Actuary (Actuarial Investment Team) - Canada Life Limited in London

Location: London. 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: You will play a key role in shaping how we manage and optimise a £22bn investment portfolio across the Canada Life Group UK (Canada Life Limited) and Ireland (Irish Life) entities. You will work closely with the wider Investment Function and Commercial's Pricing sub-function to design and implement optimal asset strategies for new business, including pricing for strategic third-party bulk annuity transactions. This role reports to the Head of Actuarial Investment Strategy and would suit a recently qualified actuary with experience in life insurance, pensions or investments. If you are a recently qualified actuary who wants to work at the heart of investment strategy, balance sheet management and annuity pricing, we would be keen to hear from you.

Key Accountabilities:

• Shape and refine asset strategy and asset mix in partnership with the Head of Actuarial Investment Strategy and the wider Investment Function, taking into account the relative attractiveness of assets under Canadian, UK and EU regulatory regimes.
• Deliver clear, meaningful actuarial investment information to multiple internal stakeholder teams, meeting Service Level Agreements (SLAs) with Irish Life and Pricing.
• Drive improvements in the optimisation and day-to-day operation of the Matching Adjustment Portfolio, including regular asset/liability projections, development of rebalancing proposals, evaluation and recommendation of new asset classes, and regular reporting on trading activity and rationale.
• Help set appropriate investment targets and guidelines for investment managers, and make proposals to manage effectively the impact of trading and liability changes each quarter.
• Continuously enhance the Actuarial Investment Team's models, processes and procedures to ensure timely, accurate and efficient delivery of services.

Desired Knowledge / Experience / Skills:

• Strong understanding of asset classes and investment strategies suitable for matching life insurance liabilities.
• Good knowledge of Solvency UK, Solvency II and the Matching Adjustment; knowledge of IFRS 17 and bulk annuities is beneficial but not essential.
• Effective communication skills, with the ability to articulate technical and complex issues clearly, both verbally and in writing, to senior audiences including non-actuaries.
• Familiarity with using PowerBI to present data and analysis is viewed favourably.
• Ability to develop and evaluate solutions to complex technical problems, make recommendations and implement agreed actions with the Head of Actuarial Investment Strategy and other key stakeholders.
• Demonstrates personal drive, energy, persistence, self-motivation and awareness of wider business needs.
• Proven ability to build sound, trusted relationships within and outside the team and to manage multiple stakeholders successfully.
• Demonstrates an understanding of actuarial control frameworks and governance requirements, with the ability to implement and maintain these in practice.
• Track record of delivering high-quality work under tight time pressure.
• A good working knowledge of Python and VBA is viewed favourably.
• Experience of managing actuarial students is beneficial but not essential.

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.