Reinsurance Valuation Manager

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.

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Job PurposeTo provide a comprehensive, accurate and timely Actuarial Valuation and Reporting service with respect to the reinsurance portfolio of the UK Insurance business unit (ie across a portfolio of [£2bn] reinsurance assets). This reporting service will meet all external reinsurer reporting requirements, as well as contributing to meeting all statutory and regulatory reinsurance reporting requirements.

This role will play an important role in delivering the reinsurance capability to support business growth over the coming years, adapting to new reinsurance systems and new reinsurance treaties.

The role holder will:• Lead the implementation of new reinsurance treaties • Accountable for direct engagement with internal and external stakeholders related to reinsurance • Deliver contractual reinsurance obligations accurately, on time and to a high standard. • Drive process efficiencies within reinsurance activities. • Feed into the wider consideration of reinsurance strategy at Canada Life. • Review reinsurance valuation and reporting within the statutory and regulatory reporting of Canada Life. • Lead the reinsurance reporting and valuation team, setting priorities, lead training, mentoring, coach and support team members. This team is likely to be a mixed team of actuaries, accountants and analysts.

Desired Knowledge and Experience

Technical Expertise • Demonstrable track record in reinsurance reporting and management in the context of life insurance industry, particularly for annuity business. • In-depth knowledge of reinsurance valuation and reporting, particularly for longevity swaps and funded reinsurance • Proven commercial awareness and understanding of the needs of the business. Ability to apply technical finance / quantitative techniques and understand business/commercial implications.• Knowledge of IFRS17 accounting rules and Solvency II reporting would be an advantage • Knowledge of LISA would be an advantage

Communication• Enhanced communication skills, demonstrating a clear and articulate standard of written and verbal communication in a complex environment, tailored for all levels of management.• Effective influencing skills and a demonstrable track record of engaging with Senior Management and/or external stakeholders in order to achieve the desired outcome

Relationship Building• The ability to develop and maintain relationships across wider business at all levels, acting with integrity and role modelling the company values at all times. • Ability to achieve buy-in from wider business on key reinsurance agenda through demonstration of competency.• Experience of working collaboratively with oversight function such as risk and audit to achieve positive results.

Taking Initiative• Actively explore opportunity to improve the process and understanding of reinsurance reporting within the organisation.• Being delivery-focused, willing and capable of making decisions in order to progress issues, and able to exercise sound judgement and commercial sense to understand the importance of different issues and assess when matters need to be escalated.• Able to effectively plan, organise the activities for the team to advance business objectives and able to spot conflicting priorities early and readjust resource allocation accordingly.• Ability to lead and drive the reinsurance reporting agenda and adapt for changing business needs and regulatory landscape.

Developing Self and Others• Demonstrable track record of managing and motivating a team from a diverse range of professional backgrounds and with varying levels of experience• 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 • Undergraduate degree in Finance / Maths (or equivalent experience) Fellow of Institute of Actuaries (or equivalent)