Head of Reinsurance

Job Description

Location: Potters Bar, London, Bristol or Isle of Man (Hybrid working options available)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. At Canada Life, we share one common purpose - to help build better futures for our customers and each other. Thats why we invest in the development of our people, technology and workplaces. We have over 1,550 colleagues working together across 5 locations - including those working virtually. Potters Bar, our largest site, has over 600 colleagues. We also have teams based in Bristol, Isle of Man and Central London. Job Purpose The role is to lead and implement the reinsurance strategy for bulk annuity business that will involve working with colleagues across the Company, LifeCo and external parties . It will also include managing, motivating, and developing a team of circa 4 individuals. Duties/Responsibilities

• Lead the Reinsurance team of specialists responsible executing the reinsurance strategy for the Bulk Annuity business. Develop and coach the team through regular individual and team meetings to maximise contribution to the business plan.
• Contribute fully to the Bulk Annuity Leadership Team including regular presentations at Executive level and Board (when required)
• Set and execute the reinsurance strategy so that the company can competitively price its bulk annuity business and be able to communicate these assumptions to key stakeholders (e.g., Managing Director, Bulk Annuity, CFO, Board), in an appropriate manner.
• Maintain and develop relationships with a wider range of reinsurers.
• Responsible for reinsurance tenders, including management of live reinsurance pricing.
• Develop and implement a range of reinsurance solutions for the Bulk Annuity business, working with a range of internal departments to make sure they are fully understood and implemented across the business (e.g. longevity swaps, quota share reinsurance)
• Ownership of the oversight of reinsurance downstream operational processes, coordinating a range of internal stakeholders and responsible for producing relevant management information.
• Ensuring governance is in place in line with Reinsurance Policies and Standards.
• Overseeing and ensuring appropriate governance is in place for Reinsurance including oversight of relevant CLL and Lifeco Policies and Standards

Desired Knowledge, Skills and Experience

• Experience of managing a team and resource planning is essential
• Knowledge of UK Bulk Annuity markets and significant knowledge of reinsurance structures
• Experience of implementing a range of reinsurance structures
• Analysing and reasoning skills, to reach sound and defensible conclusions / recommendations based on data but being pragmatic as situation and needs dictate.
• Ability to apply actuarial techniques as required
• Strong communicator with the ability to communicate complex technical and pricing concepts to a variety of stakeholders.
• Able to build relationships with people at all levels (internal and external).
• Understanding and ability to implement/maintain an actuarial control framework.

Qualifications (For the job and not the person)

• Qualified Actuary (with relevant post-qualification experience)

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.