Senior Actuarial Trainee longevity

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 This role would be to join the actuarial student scheme at Canada Life. The scheme is designed to provide a breadth of experience to those studying towards Fellowship of the Institute and Faculty of Actuaries (or equivalent) through rotations to different areasof the business. The first rotation for this role will be within the Longevity and Catastrophe team, based primarily in Potters Bar, north of London, to support the analysis of longevity risk, mainly in the context of modelling the capital requirements relating to this risk,but also to assist the wider work of the team in understanding and modelling mortality/longevity outcomes more broadly. Rotations usually last 18 to 24 months, and subsequent roles would likely to be based in an actuarial team-e.g. pricing or valuation- alsoin the Potters Bar office. Key Accountabilities Annuitant mortality is our single biggest risk as a business. This role exists to help understand how to optimise our management of this risk and to understand what the latest research (both actuarial and external) in this fast changing field suggests abouthow longevity will develop in future. Longevity risk analysis• Supporting the ongoing development and maintenance of the longevity risk model for Solvency II purposes and wider applications within the business • Supporting the annual model calibration and validation tasks • Support the implementation of longevity risk model changes and developments • Responding to queries from valuation teams, to support production of capital modelling results Deepening understanding of annuitant mortality• Supporting research into longevity topics from both actuarial and wider sources (e.g. medical, epidemiological, social, etc.) • Supporting the ongoing review of Canada Lifes longevity assumptions for pricing and valuation purposes through research and analysis • Assisting in the production of clear reports on these issues to senior management and shaping thinking on these topics within the company Annuity experience analysis and reporting • Assisting with the production of longevity experience studies for the in-force portfolio • Assist with analysis of mortality experience and recommend pricing basis on annuity acquisition opportunities (including pension scheme bulk annuities). • Drafting responses to queries from senior management and other parties (e.g. audit, risk, corporate actuarial) • Responding to queries from valuation teams, to support production of financial results by providing input assumptions and addressing queries as required General responsibilities• Ensure familiarity with risk management programs, as they impact this role, and follow appropriate risk management procedures to control, monitor and report on business activities • Ensure compliance with Company policies, regulatory, professional & legal requirements • Actively study for the qualification as a FIA (or equivalent) Desired Knowledge / Experience / Skills • Student actuary who has already worked within an actuarial department • Good knowledge of MS Excel and MS Access • Able to draw conclusions and make recommendations • Strong communication skills • Able to build relationships with people at all levels • Understanding and ability to implement/maintain an actuarial control framework and meet governance requirements • Ideally a demonstrable interest to work in the field of longevity 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.