Senior Actuarial Trainee (within Bulk Annuity team)

Recruiter
Canada Life Limited
Location
Potters Bar, United Kingdom
Salary
Competitive
Posted
15 Nov 2022
Closes
29 Nov 2022
Ref
17239441
Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
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
The Canada Life Bulk Annuity team located in Potters Bar, (Herts) are currently recruiting for a part qualified actuary to join them on the company student scheme. This position will support the pricing and analysis of Bulk Annuities and would ideally suit a part qualified actuary with DB pensions modelling experience.
The role will also involve maintaining and improving the pricing basis and pricing processes and there may also be opportunities to work on the wider development of the Bulk Annuity proposition.
As a senior actuarial trainee at Canada Life you will be responsible for providing actuarial, statistical and financial insight and analysis to management. You will have the opportunity to advise the business/management to ensure that we are managing our risk exposure to satisfy our statutory responsibilities and the needs of policyholders.

Key Accountabilities
- Assisting in the quotations for bulk annuity buy-ins and buy-outs
- Responsibility for the benefit modelling of schemes and accurate & complete data manipulation.
- Development and maintenance of bulk annuity pricing models in accordance with the Technical Actuarial Standards (where relevant) and End User Computing
- Contributing to the continuing development of pricing development to help the production of pricing reports in accordance with Canada Life's standards and policies
- Provide appropriate support to managers and others to implement recommendations/facilitate change to support the requirements of the business
- Support the reinsurance of the bulk annuity schemes and data verification processes

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
Technical Expertise
- Ideally a demonstrable interest to work in the field of Bulk Annuities
- DB benefit modelling experience/bulk annuity experience would be an advantage (we are open to hearing from people currently working in DB pension consulting roles)
- VBA knowledge would be an advantage
Developing knowledge and understanding of different actuarial disciplines including via student rotation.
• Developing the ability to interpret as well as analyse financial information to provide insight for immediate line management.
• Developing knowledge of a variety of statistical methods, models and controls, and their commercial application/implication.
• Ability to develop and modify actuarial systems and spreadsheets, developing understanding of their commercial application/implication.
• Intermediate to advanced MS excel skills demonstrating efficient use of spreadsheets and basic data manipulation skills
• Ability to deliver work to a consistently high standard under tight time pressure with attention to detail
Communication:
• Strong analytical and report writing/drafting skills.
• Can explain complexities in a straightforward and accurate way with coaching or support from managers.
Relationship Building:
• The ability to develop and maintain strong relationships across the actuarial function, acting with integrity and being a role model for 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.
• Taking part in and making a valuable contribution in different roles via actuarial student rotation.
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.
• Proactive in approach to tasks and taking on new responsibilities.
Developing Self
• Actively studying for actuarial exams, usually being over half-way through their qualification.
• 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.

What you'll like about working here
As a Canada Life UK colleague, you'll receive a competitive salary and comprehensive reward package including income protection, private medical insurance and life assurance, along with a generous pension and bonus scheme. You'll also receive the support you need with your personal and professional development.

Diversity and inclusion
Canada Life is committed to a diverse and inclusive workplace. Our role as an employer of choice is to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences
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