At a Glance
- Tasks: Join our actuarial student scheme and gain hands-on experience in pricing bulk annuity transactions.
- Company: Canada Life, a leading financial services company with a focus on innovation.
- Benefits: Competitive salary, generous pension, private medical insurance, and ongoing professional development.
- Other info: Dynamic rotations across teams for comprehensive learning and growth opportunities.
- Why this job: Kickstart your actuarial career while making a real impact in a collaborative environment.
- Qualifications: Actuarial student with strong numerical and analytical skills; experience with data manipulation is a plus.
The predicted salary is between 30000 - 40000 £ per year.
Location: Can be located in the Bristol, London or Watford office.
Job Purpose
This role would be to join the actuarial student scheme at Canada Life. The scheme is designed to provide a breadth of experience to those studying towards actuarial qualification as a Fellow of the Institute and Faculty of Actuaries (or equivalent) through rotations to different areas of the business. The first rotation will be in the Bulk Purchase Annuities (BPA) team, in New Business Pricing, where you will work with other team members to support the pricing and execution of bulk annuity transactions. The role requires an understanding of defined benefit pensions to accurately manipulate, interpret and check data, model liability cashflows, and understand business metrics relating to profit and capital. Rotations usually last 18 to 24 months, and subsequent rotations would likely be to an actuarial team.
Key Accountabilities
- Support the pricing and execution of bulk annuity transactions
- Accurate and complete data manipulation and subsequent modelling of scheme benefits
- Actively identify areas of opportunity to improve pricing tools and process efficiency
- Work collaboratively and effectively with wider BPA teams, such as BPA reinsurance, Data Verification and Member Options.
- An ability to adapt working techniques to cater to different individuals’ and teams’ requirements to achieve desired outcomes
- Understand and apply technical actuarial techniques, with an awareness of business and commercial impacts of pricing decisions
- Progress towards actuarial qualification as a Fellow of the Institute and Faculty of Actuaries, balancing study, work and professional development
- Development and maintenance of bulk annuity pricing methodologies and models in accordance with Technical Actuarial Standards (where relevant) and End User Computing requirements.
- Contribute to a collaborative and inclusive team culture
- Understanding of risk management, in relation to risks relevant to this role.
- Follow appropriate risk management procedures to control, monitor and report on business activities, and elevate key risks or issues appropriately
- Understanding and ability to implement and maintain an actuarial control framework and meet governance requirements
- Compliance with Company policies and regulatory, professional and legal requirements
Desired Knowledge / Experience / Skills
- Student actuary with previous actuarial experience
- Demonstrable numerical, analytical, problem-solving and data manipulation skills, with attention to detail and an ability to identify issues and interdependencies
- Advanced working knowledge of MS Excel. Experience of Prophet is advantageous.
- Experience of working with complex data, with a demonstrable ability to make conclusions and communicate recommendations effectively
- Strong, clear and timely oral and written communication to internal and external stakeholders
- Excellent project management skills, working effectively both independently and as part of a team
- A demonstrable interest in Bulk Purchase Annuities, with a knowledge of defined benefit pension schemes and bulk annuity transactions
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.
Senior Actuarial Trainee in London employer: Irish Life Group Services Limited
Canada Life is an exceptional employer that prioritises the growth and development of its employees, particularly through its actuarial student scheme. With offices in Bristol, London, and Watford, the company fosters a collaborative and inclusive work culture, offering competitive salaries, comprehensive benefits, and ample opportunities for professional advancement as you progress towards your actuarial qualification.
Contact Details:
Irish Life Group Services Limited Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Senior Actuarial Trainee in London
✨Network Like a Pro
Get out there and connect with people in the actuarial field! Attend industry events, join relevant online forums, and don’t be shy about reaching out to professionals on LinkedIn. We all know that sometimes it’s not just what you know, but who you know that can help you land that dream role.
✨Ace the Interview
Prepare for your interviews by practising common actuarial questions and scenarios. We recommend doing mock interviews with friends or mentors to build your confidence. Remember, it’s not just about showing off your technical skills; let your personality shine through too!
✨Showcase Your Skills
Create a portfolio that highlights your projects, data manipulation skills, and any relevant experience. This is your chance to show potential employers what you can bring to the table. We love seeing creativity and initiative, so don’t hold back!
✨Apply Through Our Website
When you find a role that excites you, make sure to apply through our website. It’s the best way to ensure your application gets the attention it deserves. Plus, we’re always on the lookout for passionate candidates who are eager to grow with us at Canada Life!
We think you need these skills to ace Senior Actuarial Trainee in London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Senior Actuarial Trainee role. Highlight your actuarial experience, especially any work with defined benefit pensions or bulk annuities. We want to see how your skills match what we're looking for!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about actuarial work and how you can contribute to our team. Be sure to mention your interest in the BPA team and any relevant projects you've worked on.
Showcase Your Skills:We love seeing numerical and analytical skills in action! If you've worked with complex data or have experience using MS Excel (or Prophet), make sure to highlight these in your application. Concrete examples will help us understand your capabilities.
Apply Through Our Website:Don't forget to apply through our website! It’s the best way to ensure your application gets to us directly. 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 Irish Life Group Services Limited
✨Know Your Numbers
As a Senior Actuarial Trainee, you'll need to demonstrate your numerical and analytical skills. Brush up on your understanding of defined benefit pensions and be ready to discuss how you would manipulate and interpret data. Practise explaining complex concepts in simple terms, as clear communication is key.
✨Familiarise with Bulk Purchase Annuities
Make sure you have a solid grasp of Bulk Purchase Annuities and the associated pricing processes. Research Canada Life's approach to BPA transactions and think about how you can contribute to improving pricing tools and process efficiency. Showing genuine interest will set you apart.
✨Showcase Teamwork Skills
This role requires collaboration with various teams, so be prepared to share examples of how you've worked effectively in a team setting. Highlight your adaptability and how you've catered to different individuals' needs to achieve common goals. This will demonstrate your fit within their inclusive culture.
✨Prepare for Technical Questions
Expect technical questions related to actuarial techniques and risk management. Review the Technical Actuarial Standards and be ready to discuss how you would implement and maintain an actuarial control framework. Being well-prepared will show your commitment to professional development and compliance.
