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- Tasks: Lead asset structuring and balance sheet optimization for Canada Life's investment strategy.
- Company: Join Canada Life UK, a trusted name in retirement and investment since 1903.
- Benefits: Enjoy competitive salary, generous pension, private medical insurance, and flexible working options.
- Why this job: Be part of a transformative team focused on customer impact and innovative financial solutions.
- Qualifications: Fellow of the Institute and Faculty of Actuaries with experience in asset structuring and coding in Python.
- Other info: Diversity and inclusion are core values; flexible working arrangements available.
The predicted salary is between 54000 - 84000 £ per year.
Location: London Office
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
• Development of new capability to contribute into company’s long term investment strategy and risk management toolkit.
• Key contributor to the company’s balance sheet optimisation efforts and development of the company’s balance sheet optimisation model.
• This position would suit an experienced actuary with significant investments, capital, ratings, or life insurance experience.
This position is located in our London City office.
Key Accountabilities
Asset Structuring
• Produce business cases for new asset structuring solutions to enhance Canada Life’s long term investment strategy.
• Develop matching adjustment treatment and eligibility view on new asset structuring solutions, and provide expert input into the development of preliminary rating and internal model methodologies, to assess merits of new asset structuring solutions, in collaboration with other ALM teams.
• Lead the implementation and embedding of structured asset solutions scoped for further development, in conjunction with other ALM teams.
• Conduct detailed analysis of items covered in the business case, including but not limited to setting the requirements of the production of prototype models for the respective asset structuring solutions, engaging with stakeholders in other departments on the implementation of the plans, participating in regulatory engagement and submission, and feeding into the work of other ALM teams (e.g. internal model and rating methodology development) as a result of new asset structuring proposals.
• Drive engagement with senior stakeholders to present findings and recommendations on new structuring solutions and guide them through governance.
• Construct process and governance frameworks for the ongoing management of structured assets in collaboration with other BAU teams.
Balance Sheet Optimisation
• Play a key role in solution design, specification and requirement setting for Canada Life’s Balance Sheet Optimisation model to support its utilisation in defined use cases. This will include contributing to the production of detailed plans, implementing those plans via controlled model development (in Python and Julia), engagement with stakeholders in Canada Life Asset Management and wider ALM teams and risk engagement, execution of governance processes and documentation.
• Support efforts to expand Canada Life’s MA portfolio, including performing the necessary analyses, engaging with stakeholders across departments whilst following the defined governance process.
• Feed expert insight into future developments of Canada Life’s investment strategy process in collaboration with other ALM teams in respect of Structured Asset Solutions.
Desired Knowledge / Experience / Skills
• Experience in asset structuring for insurance company balance sheets, in particular for Structured Credit, Equity Release Mortgages, other mortgage, or property linked assets, and/or long income assets.
• A good understanding of the workings of an insurance company balance sheet, capital requirements and rating methodologies for structured assets.
• Good knowledge of Solvency 2 Matching Adjustment regulations.
• Experience of coding in Python. Additional experience in Julia will be an advantage.
• 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.
• Effective communications skills and the ability to adapt the message to the audience, including presenting key information and conclusions to senior stakeholders at the appropriate level of detail.
• Demonstrates personal drive, energy, persistence and self-motivation and awareness of the needs of the wider business.
• Good time management and the ability to work effectively under time pressure.
Qualifications
Fellow of the Institute and Faculty 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.
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.
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Senior Actuary (structuring & ALM strategic programmes) employer: myGwork - LGBTQ+ Business Community
Contact Detail:
myGwork - LGBTQ+ Business Community Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Actuary (structuring & ALM strategic programmes)
✨Tip Number 1
Familiarize yourself with the specific asset structuring solutions relevant to insurance company balance sheets. Understanding Structured Credit, Equity Release Mortgages, and other linked assets will give you a competitive edge in discussions during interviews.
✨Tip Number 2
Brush up on your knowledge of Solvency 2 Matching Adjustment regulations. Being able to discuss these regulations confidently will demonstrate your expertise and readiness for the role.
✨Tip Number 3
Prepare to showcase your coding skills in Python and, if possible, Julia. Consider working on a small project or two that you can discuss during your interview to illustrate your technical capabilities.
✨Tip Number 4
Practice your communication skills, especially in presenting complex information to senior stakeholders. Being able to convey your findings clearly and effectively will be crucial in this role.
We think you need these skills to ace Senior Actuary (structuring & ALM strategic programmes)
Some tips for your application 🫡
Understand the Role: Take the time to thoroughly read the job description for the Senior Actuary position. Make sure you understand the key responsibilities and required skills, especially in asset structuring and balance sheet optimisation.
Tailor Your CV: Customize your CV to highlight relevant experience in investments, capital, and life insurance. Emphasize your coding skills in Python and any experience with Julia, as well as your understanding of Solvency 2 Matching Adjustment regulations.
Craft a Compelling Cover Letter: Write a cover letter that connects your background and skills to the specific needs of Canada Life UK. Mention your problem-solving abilities and how you can contribute to their long-term investment strategy and risk management toolkit.
Showcase Communication Skills: In your application, demonstrate your effective communication skills. Provide examples of how you've successfully presented findings to senior stakeholders and adapted your message to different audiences.
How to prepare for a job interview at myGwork - LGBTQ+ Business Community
✨Understand the Role and Responsibilities
Make sure you have a clear understanding of the key accountabilities listed in the job description. Familiarize yourself with asset structuring, balance sheet optimization, and the specific methodologies mentioned. This will help you articulate how your experience aligns with the company's needs.
✨Showcase Your Technical Skills
Be prepared to discuss your experience with coding in Python and any knowledge of Julia. Highlight specific projects where you've applied these skills, especially in relation to structured assets or balance sheet management, as this is crucial for the role.
✨Engage with Stakeholders
Demonstrate your ability to communicate effectively with senior stakeholders. Prepare examples of how you've presented findings or recommendations in previous roles, focusing on how you adapted your message to suit different audiences.
✨Emphasize Problem-Solving Abilities
Prepare to discuss instances where you've identified issues or challenges in your work. Highlight your problem-solving skills and attention to detail, particularly in complex financial scenarios, as these are essential for success in this position.
