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Senior Actuarial Analyst (Capital & Hedging)

Canada Life Limited
Potters Bar, United Kingdom
Closing date
Jun 3, 2023

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Canada Life UK looks after the retirement, investment and protection needs of individuals,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 Capital and Hedging team are currently recruiting for a Senior Analyst to join them. This position will support the development and management of derivative hedging strategies.

This is a specialised, technical role which provides the opportunity to play a key role in the development & implementation of hedging strategies within an innovative team at Canada Life.

The role of the Capital & Hedging team is to optimise the asset-liability position of Canada Life to achieve the best balance between financial risk and returns whilst protecting the balance sheet from market risks. The financial decisions associated with the ALM position can have a significant impact on our balance sheet and our customers.

Please note this position is not part of the Canada Life student scheme and would suit an individual with Hedging experience or knowledge in financial markets.

Key Accountabilities
Assist team in:
• Managing a multi-billion portfolio of derivatives to hedge FX, interest rates and inflation risks for Canada Life and its clients.
• Developing hedging strategies and implementing programmes to manage risks (structuring derivative transactions and conducting efficiency analysis).
• The capital generation analysis to support investment and asset allocation decisions including identification of any capital management optimisation opportunities
• Developing and automating derivative risk MI
• Optimising collateral management to improve the liquidity position of Canada Life
• Supporting Canada Life's clients and the BPA Team in their asset allocation and hedging needs (risk analysis, hedging strategies and derivative asset management)
• Assisting the team in managing projects to improve the derivative capabilities

Desired Knowledge / Experience / Skills
Technical Expertise
• Good knowledge of financial markets and derivative instruments
• Strong analytical skills and ability to automatise processes with Excel VBA
• Good understanding of the UK regulatory environment and managing regulatory capital under Solvency II
• Strong problem-solving skills and attention to detail, being able to identify issues and recommending a course of action with support and guidance from colleagues.

• 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 firm, acting with integrity
• 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.

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.

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