Senior Actuary ALM

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 Purpose • Key support for the Investments Function and Commercials Pricing sub function to develop and implement an optimal asset strategy/ mix for New Business in respect of both the CLL and Irish Life businesses, including pricing for strategic 3rd party Bulk Annuitytransactions. • Support the Head of ALM Front Office in asset and liability management (ALM) and optimisation across the Canada Life Group European entities, including Irish Life, in respect of an asset portfolio of £30bn. • Support the Head of ALM Front Office in the optimisation and operation of the Canada Life Limited (CLL) £9bn Matching Adjustment Portfolio (MAP). • Reports to the Head of ALM Front Office. • This position would suit a qualified actuary with either life insurance, pensions or investment experience. This position is located in our London City office. Key Accountabilities • Key support to the Head of ALM Front Office and Investments with formulating asset strategy/mix, taking into account the relative attractiveness of assets under Canadian/UK/EU regulatory regimes. • Support the delivery of ALM information to multiple internal stakeholder teams, delivering in line with Investment Management Agreements (IMAs) and Service Level Agreements (SLAs) with Investments front office and SLAs with Irish Life and Pricing. • Support the Head of ALM Front Office in the optimisation and operation of the MAP, producing regular asset/liability projections, developing rebalancing proposals for the MAP with Investments, evaluating and recommending new asset classes and providing regularreporting on trading activities within the MAP and rationale. • Support the Head of ALM Front Office and Investments with setting guidelines for Investments on trading. Monitor impact of trading and liability changes in quarter. • Assist in the continuous review and improvement of the ALM Front Office processes and procedures to ensure the provision of timely, accurate and efficient levels of service. Desired Knowledge / Experience / Skills • Good understanding of asset classes to enable accurate production of Asset Liability Matching results. • Good knowledge of Solvency II and the Matching Adjustment. Knowledge of IFRS 17 and Bulk Annuities would be beneficial, but not essential. • Effective communication skills (able to articulate technical and complex issues clearly both verbally and in writing to senior audiences including non-actuaries). • Able to develop and consider all solutions to a technical problem, making recommendations and implementing actions as agreed with the Head of ALM Front Office or other key stakeholders. • Demonstrates personal drive, energy, persistence and self-motivation and awareness of the needs of the wider business. • Ability to build sound and trusted relationships both within and external to the team, successfully managing multiple stakeholders. • Demonstrates an understanding and ability to implement/maintain an actuarial control framework and meet governance requirements. • Proven track record of delivering under tight time pressure. • Familiarity and experience with Python, Power BI and VBA would be beneficial, but not essential. • Experience of managing actuarial students would be beneficial, but not essential Qualifications Fellow of the Institute and Faculty 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.