Actuary (Internal Model)

Location: London

Company Overview: 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: As a model implementation actuary within the internal model team at Canada Life, you will be responsible for designing, developing, supporting, testing and documenting Canada Life's internal models. Ensuring that our internal models meet the needs of users and adhere to Canada Life's model governance and regulatory requirements.

Key Accountabilities:

• Design, develop, support, test and document internal models for credit, interest rate, inflation and equity release mortgages.
• Support the internal model operations team, investigating internal model queries, and proposing solutions.
• Work closely with the internal model design team, to understand new feature developments, and contribute to how these can be implemented within the internal model code.
• Act as a conduit between the internal model team and IT to ensure our models are supported by IT and our processes are aligned with other development teams.
• Ensure internal models follow best practice standards.
• Manage, coach, develop and motivate junior members of the team to support their development.
• Contribute knowledge sharing to the internal model implementing team.

Desired Knowledge / Experience / Skills:

• Technical Expertise: Strong capital modelling experience in market, credit and/or equity release mortgage risk space within life insurance industry. Experience with using Python. Ideally knowledge of good software design principles and unit testing. Experience with DevOps or GitHub for managing software developments. Knowledge of SII and IFRS17. Use of generative AI.
• Communication: Strong communication skills, demonstrating a clear and articulate standard of written and verbal communication in a complex environment, tailored for all levels of management. Strong ability to adapt messages to the audience, without prompting or significant coaching, in a format that is easily understood by non‑technical colleagues.
• Relationship Building: The ability to develop and maintain strong relationships across the actuarial function, IT and the wider business, acting with integrity and role‑modeling the company values at all times. Ability to flex their style and delivery, in the moment, depending on the individual and/or audience.
• Taking Initiative: 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. Self‑motivated, well‑organised, pragmatic and able to perform tasks independently.
• Developing Self and Others: Strong skills and experience in managing and motivating a team from a diverse range of professional backgrounds and with varying levels of experience. Strong coaching ability in technical, and non‑technical skills in order to support the development of others. An interested and inquisitive individual who is committed to their own ongoing professional and personal development.

Qualifications: Fellow of Institute 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.