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 Responsible for the approach within pricing of equity release mortgage products and ensure appropriate actuarial controls and monitoring of pricing are in place. They will ensure maintenance of and compliance with corporate policies and standards.
In addition, this role will manage, motivate and develop the performance of a small group of individuals in their team as required.
Key Accountabilities 1) Production of pricing reports and pricing proposals in accordance with the company's standards and policies for the ERM products. 2) Communication of pricing reports and other actuarial investigations to senior executives (MD Retirement, CFO, Head of Actuarial Function etc.) and provide recommendations to senior executives to ensure successful business operation. 3) Act as subject matter expert and work with the Equity Release team and the Product team on project work streams as required. 4) Responsibility for development of ERM modelling assumptions. 5) Oversee the development and maintenance of the pricing team's version of the ERM models in accordance with the Technical Actuarial Standards (where relevant), End User Computing and Model Risk Management and Validation Standard. Play key role in discussions in developing the ERM PIM. 6) Feed into the derivation of annuity pricing yields and required capital, Ensuring the pricing approach is in line with capital requirements and consistent with the approach under the Partial Internal Model (PIM) 7) Oversee the production of pricing and new business MI from the Equity Release team ensuring consistency of assumptions and presentation 8) Proactively share Equity Release modelling knowledge with the Canada Life pricing team. Develop the skills and knowledge of the team so that they have the expertise to achieve business requirements as well as maximising individual development. 9) Provide appropriate support to the wider team to implement recommendations/facilitate change to support the requirements of the business. 10) Keeping abreast of industry issues and developments to ensure the business processes and strategies are in line with the industry.
Desired Knowledge / Experience / Skills • Knowledge of the current ERM market ideal. • Experience in ERM and annuity pricing ideal. • Role requires some Matlab coding. • Knowledge of annuity pricing ideal. • Able to draw conclusions and make recommendations. • Ability to apply actuarial techniques to business problems. • Able to influence and challenge. • Strong communication skills (able to communicate technical issues to senior people including non-actuaries). • Able to build relationships with people at all levels. • Takes responsibility for delivery of work. • Proactive. • Understanding and ability to implement/maintain an actuarial control framework. • Qualified Actuary.
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
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