Head of Financial Risk Head of Financial Risk …

Canada Life Limited
in Potters Bar, England, United Kingdom
Permanent, Full time
Last application, 21 May 20
competitive plus car allowance
Canada Life Limited
in Potters Bar, England, United Kingdom
Permanent, Full time
Last application, 21 May 20
competitive plus car allowance
Canada Life are currently recruiting for a Head of Financial Risk to join us on a permanent basis located in our Potters Bar office.

Who we are

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.

What we’re building  

We now need a Head of Financial Risk to support the transformation and the future growth of the business within the Risk function, so it will provide an independent risk oversight and a governance framework for all risk related activities across Canada Life UK. In doing so, it will partner with the Business to understand their strategic objectives and offer practical and value-adding risk insights in order to optimise both short and long term decisions taken by the business.

Job summary

Support the Deputy Chief Risk Officer by managing the UK Division’s Financial Risk team within the Risk Function. Responsible for producing the ORSA Report and managing the various ORSA processes throughout the year. Support the Deputy Chief Risk Officer in ensuring that the financial risk aspects of CLL’s Enterprise Risk Management Framework facilitate effective and appropriate financial risk management across the business.

What you’ll do
•Direct line responsibility of 5, consisting of 2 or 3 Risk Actuaries and the others being (Senior) Actuarial Assistants
•Budgetary responsibility: no overall management of budget, however this role is expected to manage their area within an allocation of the overall budget.


Duties / Responsibilities:

ORSA ownership: Co-ordinate and report the results of the ORSA which is the collection of defined processes, aligning the ERM framework with capital management and business planning, adhering to the requirements of the relevant ORSA Policy.

Risk Management Framework: Development, delivery, maintenance, monitoring and reporting of the end to end to end risk appetite framework and risk strategy.

2nd Line Oversight: Support Risk Business Partners in providing independent risk oversight and governance of the BU’s activities (including NB initiatives and strategic initiatives).

Advisory: A Risk centre of excellence where the business comes for value-add input to assist and drive business activity (over and above what is required through 2nd Line Oversight).

Regulatory Engagement: Supporting risk-related engagement with all regulators that the UK division interacts with (PRA, FCA, CBI, IOMFSA, EIOPA and OSFI).

Group Engagement: Ensuring UK division adheres to Group (CLG and Lifeco) standards and requirements


Who you are
•Experience in the life insurance industry.
•Comprehensive knowledge of integrated risk and capital management, enterprise risk management frameworks and Solvency II requirements
•Experience in applying technical expertise to analyse risk and capital information
•Experience of embedding and maintaining an enterprise risk management framework
•Experience of second line of defence risk oversight activities
•Ability to manage and motivate a team from with varying levels of experience
•Strong communication skills, demonstrating a clear and articulate standard of written and verbal communication in a complex environment, tailored for all levels of management.
•Attention to detail
•Strong influencing skills, with experience of engaging with senior management in order to get desired outcome
•Good interpersonal/networking skills, with the ability to maintain a variety of relationships with multiple stakeholders
•Proven track record at delivering reporting requirements under tight time pressure
•Self-motivated, well-organised, pragmatic and able to perform tasks independently



Qualified actuary or relevant risk management qualification


What you’ll like about working here

As a Canada Life UK colleague, you’ll receive a competitive salary and comprehensive reward package including car allowance, 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.

Our focus is to have an engaged, committed and motivated work force, operating in a high performing and collaborative culture. We want to create an organisation that offers opportunities for all our people to develop their skills and talent, and build rewarding careers with us.

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.