Market Risk Actuary

Job Description

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 PurposeAs market risk actuary at Canada Life you will be responsible for leading actuarial and statistical analysis related to market risk, calibrating market risk capital model, developing market risk management framework, advising ALM and hedging strategy. Ensuringthat we are managing market risk to the business in line with Canada Lifes risk appetite, complying with our statutory responsibilities and meeting the needs of our policyholders and regulators. Key Accountabilities

• Develop and maintain market risk capital model methodology and assumptions. Ensure the methodology complies with regulatory requirements and reflects the risk profile of the business. Ensure the methodology is up-to-date and reflects the emerging best industrypractice by participating in industry survey and gaining insight into emerging best practice for market risk modelling.
• Own the market risk capital reporting process by maintaining a well-controlled and efficient quarterly reporting process for market risk capital, establishing a robust analysis of change process to explain the movement in capital results.
• Ability to communicate complex modelling decisions to senior executives in an appropriate manner to support governance sign-off of annual recalibration and model updates.
• Being the main conduit between capital model and business to ensure the market risk is well managed and adequately allowed for in business decision making.
• Support the development of market risk management framework on SII and IFRS17 bases.
• Support ALM and hedging activities by providing capital related insight (such as market risk MI) for ALM and hedging decision making.
• Provide guidance to the system development team and ensure the underlying model is based on signed-off methodology and assumptions.
• Manage, coach, develop and motivate junior member of the team to support their development.

Desired Knowledge / Experience / SkillsTechnical Expertise • Strong capital modelling experience in market or credit risk space within life insurance industry. • Experience with using Principle-Component-Analysis technique in modelling market risk. • Practical experience with ALM and hedging for annuities. Communication • Strong communication skills, demonstrating a clear and articulate standard of written and verbal communication in a complex environment, tailored for all levels of management. • Strong ability to adapt messages to the audience, without prompting or significant coaching, in a format that is easily understood by non-technical colleagues Relationship Building • The ability to develop and maintain strong relationships across the actuarial function and the wider business, acting with integrity and role modelling the company values at all times. • Ability to flex their style and delivery, in the moment, depending on the individual and/or audience. Taking Initiative • 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. • Self-motivated, well-organised, pragmatic and able to perform tasks independently. Developing Self and Others • Strong skills and experience in managing and motivating a team from a diverse range of professional backgrounds and with varying levels of experience • Strong 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 • Fellow of Institute of Actuaries (or equivalent). Benefits of working at Canada LifeWe believe in recognising and rewarding our people, so we offer a competitive salary and benefits package thats regularly reviewed. As a Canada Life UK colleague, youll receive a competitive salary and comprehensive reward package including a generous pensionand 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 LifeOur 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 relationshipswe 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. Thats why we offer a range of training, flexible working and opportunities to grow and develop. Diversity and inclusionBuilding 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 were 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."Nick Harding, Chief People Officer, Canada Life UK We appreciate that everyone has different work and life responsibilities. Were happy to discuss flexible working arrangements, including part time, for any of our roles should this be a requirement for.