Job title: Bulk Annuity Pricing Actuary
Location: Potters Bar
Job type: Permanent
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.
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 Bulk Annuity Pricing Actuary to support the transformation and the future growth of the business within the Insurance division, so it can be a trusted and commercial partner that influences the business to make good financial decisions, by delivering excellent support, expertise and high quality Management Information
There is an opportunity for a qualified actuary to join the bulk annuity pricing team. Successful applicants will be involved reviewing quotations, developing our pricing bases and supporting client relationship management.
What you’ll do
◾Reviewing quotations for bulk annuity buy-ins and buy-outs
◾Liaising with investment front office to identify suitable assets to support bulk annuity transactions
◾Reviewing legal agreements and contributing to contract negotiations with external stakeholders
◾Supporting business development and relationship management (meeting with clients, managing pipeline etc.)
◾Contributing to the continuing development of pricing assumptions and production of pricing reports in accordance with Canada Life’s standards and policies
◾Managing stakeholders and ensuring compliance with risk governance
◾Act as subject matter expert on defined benefit pension scheme benefits, governance and regulation
◾Development and maintenance of bulk annuity pricing models in accordance with the Technical Actuarial Standards (where relevant) and End User Computing
◾Keeping abreast of industry issues and developments to ensure the business processes and strategies are in line with the industry
◾Provide appropriate support to managers and others to implement recommendations/facilitate change to support the requirements of the business
◾Identify process improvements
Who you are
•In depth knowledge and understanding of defined benefit pension scheme benefits
•Familiarity with bulk annuity market and products
•Understanding of capital modelling and profit testing
•Knowledge of mortality modelling
•Experience of managing stakeholders
•Strong communication skills (able to communicate technical issues to senior people including non-actuaries)
•Understanding and ability to implement/maintain an actuarial control framework
Your development at Canada Life
As a Canada Life colleague, you’ll get all the support you need in your new role including full training and professional development. Our focus is to have an engaged, committed and motivated employee 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 continue to 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.