Technical Accountant

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 Technical accountant will have expertise in International Financial Reporting Standards (IFRS) and Solvency 2 regulatory requirements for insurers. This position is critical in taking a leading role in supporting the financial reporting and compliance needs of our life insurance business. The role holder will be responsible for ensuring that our accounting practices align with accounting and regulatory standards and provide technical guidance on complex financial reporting matters.

Key Accountabilities
Technical Accounting Advisory

• Serve as the subject matter expert on technical accounting issues covering IFRS, UKGAAP and SII bases
• Research and resolve complex accounting and reporting issues, to ensure compliance with reporting standards
• Prepare committee and board slides to summarise the balance sheet, earnings and capital implications of major transactions
• Prepare technical accounting papers and documentation and obtain audit clearance on major transactions
• Support accounting and actuarial teams in implementing financial reporting with accounting standards

IFRS Implementation and Compliance

• Ensure group accounting policies are understood, implemented and consistently applied
• Analyse and interpret new IFRS, UKGAAP and SUK updates, assessing their impact on financial statements and business operations
• Prepare technical accounting memoranda and documentation to support accounting standard compliance and year end audit
• Provide training and guidance to internal stakeholders on accounting standards

Financial Reporting

• Prepare and review financial statements and disclosures in accordance with IFRS, UKGAAP and Companies Act requirements
• Ensure accuracy, transparency, and timeliness of financial reporting processes
• Collaborate with auditors during financial statement reviews and audits, addressing technical accounting queries

Stakeholder Collaboration

• Work closely with actuarial, finance, and risk teams to ensure the integrity of financial results
• Liaise with external auditors, regulatory bodies, and consultants on technical accounting matters
• Assist in the development and refinement of internal policies, procedures, and controls to support IFRS compliance

Desired Knowledge / Experience / Skills

• Demonstrable track record of accounting experience, preferably in the life insurance sector
• Proven expertise and in-depth knowledge of IFRS, inclusive of:

1. IFRS 17 - Insurance Contracts
2. IFRS 9 - Financial Instruments
3. IFRS 7 - Financial Instruments: Disclosures
4. IFRS13 - Fair value measurement
5. IAS32 - Financial Instruments: Presentation
6. IFRS 16 - Leases
7. IAS 37 - Provisions, Contingent Liabilities and Contingent Assets
8. IFRS 5 - Non-Current Assets Held for Sale and Discontinued Operations
9. IAS 36 - Impairment of assets
10. IAS 38 - Intangible assets
11. UKGAAP, Companies Act 2006 and Solvency UK experience also highly desirable

• Experience with financial reporting systems and tools
• Strong research, analytical and problem-solving skills with attention to detail
• Excellent communication and presentation skills to explain complex concepts to diverse audiences
• High level of proficiency in financial modelling, data analysis, and reporting tools
• Ability to manage multiple projects and deadlines in a dynamic environment
• Ability to translate technical accounting approach into practical application to manage booking of complex transactions into the ledger
• Proven ability to solve problems and come up with new solutions.
• Demonstrable ability to navigate through uncertainty and provide solutions when working through ambiguity.
• Resilient and able to adapt to change.

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 you.