Senior Actuarial Analyst

Location : Position can be located in either Bristol, London or Potters Bar 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 Summary: As a Senior Actuarial Analyst in the BPA team at Canada Life you will contribute to the success of the business through an accountable role in one of the BPA sub-teams; pricing & quotations, business development, support of strategy & risk assessment, proposition & projects data verification or operations. This role will initially be in the Pricing & Quotations team where you will work with other team members to provide quotations to employee benefit consultants working on behalf of pension scheme trustees. The role requires an understanding of defined benefit pensions to accurately manipulate & check data, create liability cashflows, apply profit tests and calculate required capital. Responsibilities: 1. Using your understanding of actuarial concepts and models to calculate premiums and/or premium true-ups, trivial commutations and other member options using actuarial processes, modelling systems, spreadsheets and reporting tools. 2. Review of pension scheme reports/data to agree data schedules and benefit specifications between Canada Life and scheme trustees. To ensure data and benefit specifications are complete and accurate in all respects including legislative requirements. Working independently and autonomously to ensure the modelling of data updates is effectively communicated and understood by our customers and colleagues. Examples could include: • Maintaining and developing the scheme quotation and/or premium true-up process including restructuring benefits and performing supporting checks to aid in checking completeness and accuracy. • Ensuring appropriate assumptions (guaranteed or prevailing) and methodology are used Regular use, maintenance & testing of actuarial models and processes for sign off by senior management, ensuring strong governance of models, maintaining up to date processes and control documentation for audit purposes. 3. Contribute to the review of products, processes and/or reporting of BPA function and/or market. Proactively identifying and implementing improvements where appropriate and agreed by line management. Examples could include: • Pricing or assisting in the pricing of products to ensure that new business and/or data changes are written on profitable terms and in compliance with corporate pricing standards and policy conditions. • Developing processes and capabilities to calculate benefit modifications, for example GMPE • Ensuring key project artefacts including the Project Initiation Document, KIRA, project plans, business readiness etc are in place Delivering improvements that increase the efficiency of the regular processes. 4. Produce quality reports and engage multiple teams across the business to ensure strong understanding of results, analysis and to allow the appropriate processing of downstream activities for example, administration updates, reinsurance accounting and premium changes. 5. Clear and accurate written and verbal communication of data, actuarial and modelling reports to senior management and other stakeholders including the schemes trustees, administrators or consultants. Experience Required: Technical Expertise • Able to operate actuarial systems to produce results including the ability to change parameters and assumptions • Ability to understand actuarial & financial concepts and their application to their work • Ability to produce accurate analysis with an appropriate audit trail • Confidence and clarity in explaining findings and their implications when making proposals to or creating reports for senior management and audiences across teams • Ability to implement and maintain a control framework • Intermediate to advanced MS excel skills demonstrating efficient use of spreadsheets and advanced data manipulation skills • Ability to deliver work to a high standard under tight time pressure with attention to detail • Role-specific knowledge such as: experience with actuarial model software, modelling best practices, bulk annuity product knowledge, Solvency II/LICAT knowledge, defined benefit pensions knowledge and modelling cashflows & capital projections • Strong problem-solving skills and attention to detail, being able to identify issues and interdependencies Communication: • Strong analytical and report writing/drafting skills. • Can explain complexities in a straightforward and accurate way. • Ability to understand and explain the wider implications of processes and outputs to the wider team and more senior stakeholders Relationship Building: • The ability to develop and maintain strong relationships across the business, acting with integrity and role modelling 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. Developing Self • 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. 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.

Location: Potters Bar, GB

Posted Date: 2/2/2025