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Senior Actuarial Trainee - Risk function in Potters Bar

Job description

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.

Scroll down the page to see all associated job requirements, and any responsibilities successful candidates can expect.
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
As a senior actuarial trainee at Canada life you will be responsible for providing actuarial, statistical and financial insight and analysis to management. You will have opportunity to advise the business or management to ensure that we are managing risk exposure to the business in order to satisfy our statutory responsibilities as well as the needs of policyholders and that of our regulators.

This role would be to join the actuarial student scheme at Canada Life. The scheme is designed to provide a breadth of experience to those studying towards Fellowship of the Institute and Faculty of Actuaries (or equivalent) through rotations to different areas of the business.

The first rotation for this role will be within the Financial Risk team, based primarily in Potters Bar, north of London, to support the company wide risk management process. Rotations usually last 18 to 24 months, and subsequent roles would likely to be based in an actuarial team-e.g. bulk annuity, pricing or valuation.

This position is not intended for those already on the Canada Life actuarial student scheme

Key Accountabilities

  • Assist with regular monitoring and annual refresh of the Risk Appetite Framework and Risk Policies and Standards, as part of the overall Enterprise Risk Management Framework
  • Support delivery of key aspects of the ongoing ORSA process and drafting of the annual ORSA report
  • Provide support with the production and delivery of risk reports for Management Committees and Board, and support the Head of Financial Risk with other reports as required
  • Draft input for company reports (e.g. SFCR and Annual Report and Accounts)
  • Provide technical Risk support on adhoc projects
  • Provide support to manage and oversight Financial Risks in CLL, CLAM and Wealth
  • Oversight and technical risk review of quotations for bulk annuity buy-ins and buy-outs
  • Risk oversight of pricing reports in accordance with Canada Life's standards and policies
  • Provide appropriate support to managers and others to implement recommendations/facilitate change to support the requirements of the business
Desired Knowledge / Experience / Skills

Technical Expertise
• Developing knowledge and understanding of different actuarial disciplines including via student rotation.
• Developing the ability to interpret as well as analyse financial information to provide insight for immediate line management.
• Developing knowledge of a variety of statistical methods, models and controls, and their commercial application/implication.
• Ability to develop and modify actuarial systems and spreadsheets, developing understanding of their commercial application/implication.
• Intermediate to advanced MS excel skills demonstrating efficient use of spreadsheets and basic data manipulation skills
• Ability to deliver work to a consistently high standard under tight time pressure with attention to detail

• Strong analytical and report writing/drafting skills.
• Can explain complexities in a straightforward and accurate way with coaching or support from managers.

Relationship Building:
• The ability to develop and maintain strong relationships across the actuarial function, acting with integrity and being a role model for the company values at all times
• Being able to flex their style and approach to different individuals, with occasional coaching and support, in order to achieve a successful outcome.
• Taking part in and making a valuable contribution in different roles via actuarial student rotation.

Problem Solving & Accurate Judgement:
• Able to effectively plan, organise and execute their own work with little supervision, making management aware of conflicting priorities and readjusting their workload accordingly.
• Good problem solving skills and attention to detail, being able to identify issues and interdependencies, recommending a course of action with support and guidance from colleagues.
• Can make some decisions independently in order to progress issues, and able to exercise sound judgement and commercial sense to understand the importance of different issues and assess when matters need to be escalated.
• Proactive in approach to tasks and taking on new responsibilities.

Developing Self
• Actively studying for actuarial exams, usually being over half-way through their qualification.
• An interested and inquisitive individual who is committed to their own ongoing professional and personal development.
• Developing the ability to apply technical actuarial techniques and understand business/commercial implications.

Degree (or equivalent) in Finance, Mathematics, Statistics or related field
Post-graduate qualification in Finance, Mathematics, Statistics or related field (not essential)

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

Extra information

Education Level
Potters Bar
Working hours per week
4 - 40
Type of Contract
Casual / Part Time Jobs
Profession Sub-category
Full UK/EU driving license preferred
Car Preferred
Must be eligible to work in the EU
Cover Letter Required

Accountancy jobs | Casual / Part Time Jobs | Other

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