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- Tasks: Lead reinsurance valuation and reporting for a £2bn portfolio, ensuring accuracy and compliance.
- Company: Join Canada Life UK, a trusted name in retirement and investment since 1903, focused on customer futures.
- Benefits: Enjoy competitive salary, generous pension, private medical insurance, and flexible working options.
- Why this job: Be part of a transformative team that values curiosity, collaboration, and personal growth.
- Qualifications: Undergraduate degree in Finance/Maths; Fellow of Institute of Actuaries preferred.
- Other info: Diversity and inclusion are key; flexible working arrangements available.
The predicted salary is between 43200 - 72000 £ 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. 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
To 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.
Key Accountabilities
- Responsible for the delivery of contractual reinsurance reporting to external reinsurance counterparties. This involves managing, directing and reviewing the work done to produce valuation and reporting in line with contractual obligations as laid out in the reinsurance treaties. Ensure that the valuation and reporting results are accurate and that high quality analysis and documentation is produced to enable effective independent validation of results.
- Review and implement new reinsurance treaties. This will include providing technical input and assessing for operational readiness ahead of implementation.
- Operate as the subject matter expert for reinsurance reporting within Canada Life.
- Provide guidance, training and mentoring to a team of qualified, part-qualified actuaries or finance professionals in order to optimise the performance of the team in line with the Divisions objectives.
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.
- 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.
- 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.
- Taking Initiative: Actively explore opportunity to improve the process and understanding of reinsurance reporting within the organisation.
- 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.
Qualifications
- Undergraduate degree in Finance / Maths (or equivalent experience)
- 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.
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.
Reinsurance Valuation Manager employer: Irish Life Group Services Limited
Contact Detail:
Irish Life Group Services Limited Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Reinsurance Valuation Manager
✨Tip Number 1
Familiarise yourself with the latest developments in reinsurance reporting and valuation, especially in the context of life insurance. This knowledge will not only help you during interviews but also demonstrate your commitment to staying updated in a rapidly evolving field.
✨Tip Number 2
Network with professionals in the reinsurance and actuarial fields. Attend industry events or join relevant online forums to connect with others who can provide insights into the role and potentially refer you to opportunities at Canada Life.
✨Tip Number 3
Prepare to discuss your experience with managing teams and mentoring others, as this role involves leading a diverse group. Think of specific examples where you've successfully guided team members or improved processes.
✨Tip Number 4
Understand Canada Life's values and culture. Be ready to articulate how your personal values align with theirs, particularly around customer focus and integrity, as this will resonate well during the interview process.
We think you need these skills to ace Reinsurance Valuation Manager
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in reinsurance reporting and management, particularly in the life insurance sector. Use specific examples that demonstrate your expertise in actuarial valuation and your understanding of regulatory requirements.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Highlight your technical skills and experience with reinsurance treaties, and explain how you can contribute to Canada Life's goals. Be sure to mention any relevant qualifications, such as being a Fellow of the Institute of Actuaries.
Showcase Communication Skills: Given the importance of communication in this role, provide examples in your application that demonstrate your ability to engage with senior management and external stakeholders. This could include instances where you've successfully influenced decisions or built relationships across teams.
Highlight Leadership Experience: If you have experience leading teams or mentoring colleagues, make sure to include this in your application. Discuss how you've motivated diverse teams and contributed to their professional development, aligning with Canada Life's commitment to developing its people.
How to prepare for a job interview at Irish Life Group Services Limited
✨Showcase Your Technical Expertise
Make sure to highlight your experience in reinsurance reporting and management, especially within the life insurance sector. Be prepared to discuss specific examples of how you've handled reinsurance valuation and reporting, particularly for longevity swaps and funded reinsurance.
✨Demonstrate Strong Communication Skills
Canada Life values clear and articulate communication. Practice explaining complex concepts in a straightforward manner, as you may need to engage with senior management and external stakeholders. Prepare to share instances where your communication skills led to successful outcomes.
✨Emphasise Relationship Building
Discuss your ability to develop and maintain relationships across various levels of an organisation. Share examples of how you've collaborated with different teams, such as risk and audit, to achieve positive results, showcasing your integrity and alignment with company values.
✨Prepare for Scenario-Based Questions
Expect questions that assess your problem-solving abilities and decision-making skills. Think of situations where you've had to make tough decisions or adapt to changing business needs, and be ready to explain your thought process and the outcomes of those decisions.
