At a Glance
- Tasks: Analyse risks and develop internal models to support financial decision-making.
- Company: Join Canada Life UK, a modern and inclusive organisation focused on building better futures.
- Benefits: Enjoy competitive salary, generous pension, private medical insurance, and flexible working options.
- Other info: Diversity and inclusion are at our core; we welcome emerging talent.
- Why this job: Make a real impact in risk management while growing your career in a supportive environment.
- Qualifications: Experience in capital modelling and strong analytical skills required.
The predicted salary is between 30000 - 40000 £ per year.
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.
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.
As an Internal Model Operations Team Specialist at Canada Life you will be responsible for actuarial and statistical analysis related to interest rate, inflation and credit risks calibrating our internal model, developing and reporting on our risk management framework. You will be working with our ALM, hedging and investment, pricing and capital teams to develop Canada Life's risk strategy and with our reporting teams in the operation of our internal model. You will ensure that we are managing risk in line with Canada Life's risk appetite, complying with our statutory responsibilities and meeting the needs of our policyholders and regulators. This is a great opportunity for an individual with life insurance and capital modelling experience to add value to our internal model team, across a number of risk areas and in a growing team, at an exciting time for the business.
- Develop, maintain and run Internal Model components (including credit risk, equity release mortgage risk, interest rate risk inflation risk, aggregation).
- Ensure the internal model methodology complies with regulatory requirements and reflects the risk profile of the business.
- Ensure the methodology is up-to-date and reflects the emerging best industry practice by participating in industry survey and gaining insight into emerging best practice for market risk modelling.
- Work with the financial reporting team to effectively run the internal model capital reporting process by maintaining a well-controlled and efficient quarterly reporting process for risk capital, establishing a robust analysis of change process to explain the movement in capital results.
- Communicate complex modelling decisions to team members and stakeholders through the business in an appropriate manner to support governance sign-off of annual recalibration and model updates.
- Being the main conduit between internal capital model and the business to ensure the risks is well managed and adequately allowed for in business decision making.
- Support the development of risk management framework on SII, IFRS17 and LICAT bases.
- Support regular MI and bespoke analysis for ALM, hedging, pricing and investment activities by providing capital and risk related insight (such as market and credit risk MI).
- Own, maintain and develop specialist valuation models for limited price indexation and credit products including equity release mortgages.
- Work with the internal model implementation team to define, build test and implement software solutions to modelling problems.
Strong capital modelling experience in market and/or credit risk space within life insurance industry.
- Modelling of credit risk / MA under stress.
- Principle-Component-Analysis.
- Economic scenario generators, copulas and risk aggregation techniques.
- Python and VBA coding and advanced MS Excel skills.
Ability to adapt messages to the audience, without prompting or significant coaching, in a format that is easily understood by non-technical colleagues.
Ability to develop and maintain strong relationships across the actuarial function and the wider business, acting with integrity and role modelling the company values at all times.
Pro-actively own and run monitoring and reporting processes within the team.
Strong 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.
An inquisitive individual with an interest in financial modelling who is committed to their own ongoing professional and personal development.
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.
We care about doing the right thing for our people, customers and community and helping others to build better futures. 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. Emerging talent is crucial to our growth and creating an environment that continues to inspire us all.
We're happy to discuss flexible working arrangements, including part time, for any of our roles should this be a requirement for you.
Pensions Operations Specialist (Part-Time) employer: Canada Life UK
Canada Life UK is an exceptional employer that prioritises the well-being and development of its employees, offering a competitive salary and comprehensive benefits package, including a generous pension scheme and private medical insurance. With a strong commitment to diversity and inclusion, Canada Life fosters a supportive work culture that encourages personal and professional growth, making it an ideal place for individuals seeking meaningful careers in the financial services sector.
StudySmarter Expert Advice🤫
We think this is how you could land Pensions Operations Specialist (Part-Time)
✨Connect with Campus Reps
If you're looking for part-time work in banking, try to connect with your university's career services and campus representatives from banks. They often host recruitment events or provide exclusive job listings, which can give you a leg up in the application process.
✨Get Involved in Financial Societies
Join finance or investment clubs at your university. These societies not only provide fantastic networking opportunities but also often collaborate with financial institutions for internships or part-time roles, making it easier for us to land those positions.
✨Use LinkedIn for Hidden Gems
Keep an eye on LinkedIn for part-time opportunities at banks, specifically targeting roles like customer service or administrative support. Companies like Canada Life UK often post openings there first, so be on the lookout and don’t forget to engage with their content!
✨Showcase Your Skills Directly
When applying for a part-time role, consider creating a simple portfolio that highlights your finance-related skills or projects. Whether it's a personal finance blog, a financial analysis you've done, or any relevant coursework, having this ready can impress hiring managers at Canada Life UK.
We think you need these skills to ace Pensions Operations Specialist (Part-Time)
Some tips for your application 🫡
Show Off Your Numbers Game:In the banking and financial services world, it's all about numbers. Highlight any relevant coursework, grades, or certifications, like AAT or CFA, on your CV. If you can point to specific projects or tasks where you managed finances or analysed data, that's a big plus!
Tailor Your Cover Letter to Us:When writing your cover letter, don’t just reiterate your CV. Tell us why you want to work at Canada Life UK and how this part-time role fits into your career goals. Map your skills and experiences directly to the job spec, and don’t forget to weave in any technical skills you have, like experience with financial software!
Marry Experience with Availability:Since this is part-time, it’s super important to state your availability clearly in your application. Highlight any previous work experience, even if it's not directly in finance, that shows your reliability and ability to juggle various commitments. Flexibility can be a real asset!
Keep It Professional Yet Personal:While you want to keep a professional tone, don’t be afraid to inject a bit of your personality into your application. Especially for a part-time role, we’re looking for someone who's not just skilled but also a good fit for the team at Canada Life UK. A little light-heartedness can go a long way!
How to prepare for a job interview at Canada Life UK
✨Brush Up on Your Numbers
For a role in banking and financial services, you’ll likely encounter numerical tests that gauge your analytical skills. So, let’s whip out those maths skills! Practise mental arithmetic and get comfy with basic financial concepts; this'll really help you shine during the assessment stages.
✨Know Your Financial Products
Knowing your stuff about the various financial products and services is crucial. Be prepared to discuss topics like loans, mortgages, investment funds, and credit options. Having a finger on the pulse of current market trends and economic events can also give you an edge—the interviewers will appreciate your insight!
✨Flexibility and Commitment are Key
Since you're aiming for a part-time position, emphasise your flexibility and willingness to commit your time effectively. Highlight your ability to balance studies or other commitments while delivering results at work. This kind of attitude can set you apart from the competition.
✨Showcase Your Portfolio of Experience
Even though it’s a part-time role, companies want to see your motivation and past experience. Bring examples of relevant projects or roles, including internships or coursework that demonstrate your understanding and passion for banking and finance. The more tangible your examples, the more convincing you’ll be!
