Actuarial Analyst

Canada Life Limited
London, United Kingdom
13 May 2023
12 Jun 2023
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Location: London (with hybrid working options)

Team: ALM

Please note this position is not part of the Canada Life Actuarial student scheme and does not provide study support

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. That's 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
As an actuarial analyst at Canada Life you will be responsible for providing actuarial and statistical analysis for your department and the wider business. In your role you will ensure that we are managing risk exposure to the business in order to satisfy our statutory responsibilities as well as the needs of policyholders and that of our regulators.

What you'll do

Reviews and Reporting:
  • Support the production of Investments MI to enable 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 production of investment information such as asset mixes and returns for use in pricing New Business in respect of both the CLL and Irish Life businesses, including for strategic 3rd party Bulk Annuity transactions
  • Support management in the production of actuarial reports, delivering information required for relevant actuarial reports to enable management to make informed financial decisions and manage risk.
  • Check the controlled production of regular (monthly, quarterly and annual) actuarial data using available actuarial processes, modelling systems, spreadsheets and reporting tools.
  • Populate and templates and reports, conducting appropriate checks to ensure compliance with internal and external reporting requirements.
  • Contribute to the review of products, processes and reporting of a particular line of business or function, implementing improvements and changes where appropriate and agreed by line management.
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.
  • Contribute to the testing of actuarial models to support sign off by senior management, maintaining up to date process and control documentation for audit purposes.
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.
Knowledge, Skills and Experience

Technical Expertise
  • Able to operate actuarial systems to produce results including the ability to change parameters and assumptions
  • 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
  • Sound 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
  • 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.
Actuarial, insurance or finance related qualification (e.g CAA) - desirable 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, Canada Life UK

We appreciate that everyone has different work and life responsibilities. We're happy to discuss flexible working arrangements, including part time, for any of our roles should this be a requirement for.