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Senior Actuary (BPA)

Canada Life Limited
Potters Bar, United Kingdom
Closing date
Jun 29, 2024

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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, 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

There is an opportunity for a qualified actuary to join the BPA (Bulk Purchase Annuity) Proposition and Projects team. The role is to ensure that the proposition strategy and arrangements are appropriately implemented within BPA business unit. It will involve building relationships with external parties and working with colleagues across the Company.

Key Accountabilities
• Execution of the proposition strategy so that the company can competitively price its BPA business.
• Responsible for implementation of proposition changes in BPA and communication of these assumptions to key stakeholders (e.g., Propositions & Projects Director BPA, Business Development Director, Head of BPA Proposition, BPA Managing Director, CFO) and committees in an appropriate manner.
• Maintain and develop relationships with a wide range of external stakeholders as appropriate e.g. external legal consultants, 3rd party providers etc.
• Being a subject matter expect for BPA proposition and working with a range of internal departments to make sure arrangements are fully understood and implemented across the business (e.g. residual risks).
• Contribute fully to the BPA Proposition & Projects team including regular updates at team meetings and training to colleagues as required.
• Ensuring governance and processes are in place in line with CLL Policies and Standards.

Desired Knowledge / Experience / Skills
• Strong knowledge of UK Defined Benefit pensions
• Familiarity with BPA market, products and reinsurance structures
• Understanding of pricing, capital modelling and profit testing
• Ability to build relationships with people at all levels (internal and external)
• Strong negotiation and communication skills (can communicate technical issues to senior people including non-actuaries)
• Understanding and ability to implement/maintain an actuarial control framework

• Qualified Actuary (with relevant post-qualification experience)

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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