Capital and SST Actuary
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.
- Contribute to determining and managing the regulatory and economic capital requirements for companies in the UK Division.
- Contribute to an effective Enterprise Risk Management (ERM) Framework by producing Stress and Scenario Testing (SST) analyses, capital projections and sensitivities on a range of capital metrics.
- Reports to the Head of Capital and SST.
- Line management responsibilities for up to two actuarial students.
This position is being recruited as 12 month fixed term contract.
- Contribute to the production and maintenance of the methodology for the calculation of economic capital (ORSA) contributing to the ERM framework, and validating the proper implementation of that methodology in capital models.
- Support the production and review of methodology used to determine regulatory capital requirements
- Support initiatives required to:
- Optimise capital requirements and/or
- Reduce earnings volatility, and/or
- Manage the risk exposure of the company in line with company risk appetite, tolerance limits and overall ERM framework.
- Contribute to the development and delivery of SST results
- Contribute to the production of sensitivity testing to support various requirements including:
- Risk reporting as required by the Risk Function;
- Assumption significance assessment;
- Information necessary to support regular assessment of the robustness/endurance of risk mitigation techniques.
- Support the development and maintenance of market risk models (not including credit).
- Manage, develop and motivate actuarial students
Desired Knowledge / Experience / Skills
• Strong technical skills including either financial reporting or Solvency II knowledge/experience
• Good understanding of the UK regulatory environment.
• Delivery focused and able to take a pragmatic solution if required.
• Ability to apply actuarial techniques to business problems and to see wider implications.
• Proven ability to act independently as well as working as part of a wider team.
• Strong communication skills (able to articulate technical and complex issues clearly both verbally and in writing to senior audiences including non-actuaries).
• Demonstrated personal drive, energy, persistence and self-motivation and awareness of the needs of the wider business.
• Experience in applying technical expertise to analyse risk and capital information and convert this into management information that is both timely and helpful
Fellow of the Institute and Faculty of Actuaries (or equivalent). 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