Senior Actuarial Analyst Reinsurance

Job closing date: 12th January 2025

Location: Can be located in the London, Potters Bar, Bristol office (there is an expectation of minimum 2 days per week to be in an 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
Canada Life UK are currently recruiting for a Senior Actuarial Analyst to report into the newly established Reinsurance Operations Team.

As a Senior Actuarial Analyst, you will be responsible for providing actuarial and statistical analysis for your department and the wider business. You will have the opportunity to support regular reinsurance reporting as well as integrating new reinsurance treaties into the reporting framework. The role will also look to provide support to the optimisation and modernisation of the reinsurance reporting processes.

This position is not part of the Canada Life actuarial student scheme.

Key Accountabilities
1) Reviews and Reporting:
- Support management in the production of reinsurance deliverables
- Embedding of new reinsurance treaties into the reporting framework
- Ensuring all deadlines set by the reinsurer, are met and work is delivered to a high standard
- Support analysis of results

2) Analysis and Testing:
- Produce statistical analysis for the actuarial function to comply with internal and external reporting standards, with occasional support from more senior colleagues.

3) Continuous Improvement:
- Support the continuous review and improvement of the department's processes, systems and controls to ensure the provision of accurate, timely and efficient levels of service by testing and developing actuarial modelling systems, processes, spreadsheets and other reporting tools.
- Continuously looking to improve current reinsurance reporting processes to improve efficiency

Desired Knowledge / Experience / Skills
Technical Expertise:
• Ability to produce accurate analysis with an appropriate audit trail
• Confidence in explaining findings and making proposals to management
• Ability to implement and maintain a control framework
• Intermediate to advanced MS excel skills demonstrating efficient use of spreadsheets and basic data manipulation skills
• Ability to deliver work to a high standard under tight time pressure with attention to detail
• Ability to develop and modify actuarial systems and spreadsheets to improve efficiency
• Knowledge of longevity swaps would be helpful, but not essential
Communication:
• Strong analytical and report writing/drafting skills.
• Can explain complexities in a straightforward and accurate way with coaching or support from senior managers.

Relationship Building:
• The ability to develop and maintain strong relationships across the actuarial function, acting with integrity and role modelling the company values at all times .
• Being able to flex their style and approach to different individuals, with occasional coaching and support, in order to achieve a successful outcome.

Problem Solving & Accurate Judgement:
• Able to effectively plan, organise and execute their own work with little supervision, making management aware of conflicting priorities and readjusting their workload accordingly.
• Good problem-solving skills and attention to detail, being able to identify issues and interdependencies, recommending a course of action with support and guidance from colleagues.
• Can make some decisions independently in order to progress issues, and able to exercise sound judgement and commercial sense to understand the importance of different issues and assess when matters need to be escalated.

Developing Self :
• An interested and inquisitive individual who is committed to their own ongoing professional and personal development.
• Developing the ability to apply technical actuarial techniques and understand business/commercial implications.

May have commenced and since stopped study towards actuarial qualification.
This position does require experience of working within an actuarial team and ideally some reinsurance experience, but not essential.

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.

"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,