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- Tasks: Join the Bulk Annuity Pricing Basis team to enhance models and pricing methodologies.
- Company: Canada Life UK, a modern and agile organisation focused on building better futures.
- Benefits: Competitive salary, generous pension, private medical insurance, and flexible working options.
- Why this job: Make a real impact in the financial sector while developing your actuarial skills.
- Qualifications: Qualified actuary with strong knowledge of UK Defined Benefit pensions and stakeholder management.
- Other info: Inclusive culture with opportunities for personal and professional development.
The predicted salary is between 60000 - 80000 £ per year.
Location: Watford, Hertfordshire
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
There is an opportunity for a Senior Actuary to join the Bulk Annuity Pricing Basis team. The successful applicant will support the business unit in achieving its annual business plan by bringing model and process enhancements into BAU and ensuring appropriate pricing basis and methodologies are in place.
Key Accountabilities
- Review and contribute to UAT of model developments relating to bulk annuity proposition and process efficiencies.
- Take ownership of pricing basis and methodology developments contributing ideas for change liaising with SMEs and oversight teams developing proposals and presenting to governance committees, overseeing model developments for approved changes.
- Ensure pricing basis, models and processes adhere to Canada Life's risk tolerances and are compliant with appropriate governance.
- Supporting the wider Pricing team through being responsive to questions relating to live quote work, organising training sessions for process changes.
- Develop and maintain relationships with other teams, focusing on other bulk annuity teams such as Proposition, Strategy and Operations Front Office ALM Risk and AFO.
- Keep abreast of industry issues and developments to ensure the business processes and strategies are in line with the industry.
Desired Knowledge / Experience / Skills
- Strong knowledge of UK Defined Benefit pensions.
- Familiarity with bulk annuity market and products.
- Understanding of capital modelling and profit testing.
- Experience of managing stakeholders.
- Strong communication skills (able to communicate technical issues to senior people including non-actuaries).
- Understanding and ability to implement/maintain an actuarial control framework - Qualified actuary.
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.
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 (BPA Pricing Basis team) in Watford employer: Canada Life
Contact Detail:
Canada Life Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Actuary (BPA Pricing Basis team) in Watford
✨Tip Number 1
Network like a pro! Reach out to current or former employees at Canada Life through LinkedIn. A friendly chat can give us insider info on the company culture and maybe even a referral!
✨Tip Number 2
Prepare for the interview by brushing up on your knowledge of UK Defined Benefit pensions and the bulk annuity market. We want to show that we’re not just qualified, but genuinely interested in the role and the industry.
✨Tip Number 3
Practice articulating complex actuarial concepts in simple terms. We need to demonstrate our strong communication skills, especially when discussing technical issues with non-actuaries during interviews.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows we’re serious about joining the team at Canada Life.
We think you need these skills to ace Senior Actuary (BPA Pricing Basis team) in Watford
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Senior Actuary role. Highlight your experience with UK Defined Benefit pensions and any relevant projects you've worked on. We want to see how your skills align with our needs!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about the role and how you can contribute to the Bulk Annuity Pricing Basis team. Be genuine and let your personality come through.
Showcase Your Communication Skills: Since strong communication is key for this role, make sure to demonstrate your ability to convey complex ideas clearly in your application. We love seeing candidates who can bridge the gap between technical and non-technical audiences.
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way to ensure your application gets into the right hands. Plus, you’ll find all the details you need about the role and our company culture there!
How to prepare for a job interview at Canada Life
✨Know Your Numbers
As a Senior Actuary, you'll need to demonstrate your strong knowledge of UK Defined Benefit pensions and the bulk annuity market. Brush up on key metrics and recent trends in the industry so you can confidently discuss how they relate to Canada Life's business strategies.
✨Showcase Your Communication Skills
You'll be communicating complex technical issues to senior stakeholders, including non-actuaries. Prepare examples of how you've successfully simplified intricate concepts in the past, and practice articulating these clearly and concisely.
✨Be Ready to Discuss Governance
Understanding and implementing an actuarial control framework is crucial for this role. Familiarise yourself with Canada Life's governance processes and be prepared to discuss how you would ensure compliance while driving model and process enhancements.
✨Build Relationships
The role involves collaborating with various teams, so think about how you've developed relationships in previous roles. Be ready to share specific examples of how you've worked with cross-functional teams to achieve common goals, especially in pricing or risk management contexts.