Actuary (Modelling Production)

Canada Life Workplace; London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A leading company in the insurance sector is seeking an experienced Actuary to join their Modelling Production Team. This role involves providing actuarial insights, leading analysis, and managing a team. The ideal candidate will have strong commercial awareness and experience in IFRS17 and Solvency II. The position offers a competitive salary and benefits, with a focus on personal and professional development.

Benefits

Pension

Bonus Scheme

Income Protection

Private Medical Insurance

Life Assurance

Qualifications

• Experience in the life insurance industry with expertise in IFRS17 and Solvency II.
• Proven project management skills for delivering complex projects on time.

Responsibilities

• Lead actuarial analysis and provide strategic advice to senior management.
• Manage, coach, and motivate a team of actuaries.

Skills

Commercial Awareness

Problem Solving

Communication

Relationship Building

Taking Initiative

Education

Fellow of the Institute of Actuaries

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Description

Location: London (Please note there is an expectation to be in the office at least twice a week)

Duration: 6 month fixed term contract.

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 Purpose

As an experienced qualified actuary at Canada Life, you will be responsible for leading actuarial, statistical, and financial insight and analysis to senior management, overseeing analysis and insight produced by other actuaries where appropriate, and leading small to medium-sized teams of qualified and part-qualified actuaries and analysts. Using your significant specialist technical expertise and solid commercial understanding, you will take a lead within the team and function to advise the business and influence decisions, ensuring risk is managed in line with Canada Life’s risk appetite, statutory responsibilities are met, and policyholders' and regulators' needs are addressed.

This role is a 6-month FTC within our Modelling Production Team, overseeing and reviewing Model Runs and analysis completed by analysts and trainee actuaries. Proven prophet valuation production experience and practical IFRS 17 and Solvency II Modelling activities are required.

Key Accountabilities

1. Accountable for providing accurate modelling, financial analysis, advice, and support to various business areas, making considered and commercially astute recommendations. Analyze risk factors to understand and manage risk exposure, taking appropriate actions to mitigate risks.

2. Lead risk analysis activities within your discipline, operating effectively across the business on BAU and project activities. Demonstrate initiative, collaboration, and influence with senior stakeholders across teams and disciplines.

3. Communicate to senior executives the impact and implications of actuarial investigations, reports, and recommendations, providing strategic advice to ensure successful business operation. Consider developmental opportunities and recommend operational improvements.

4. Oversee the production of regular reports and long-term plans, leading continuous review and process improvements, ensuring timely, accurate, and efficient service delivery.

5. Implement actuarial control frameworks, ensuring high standards of insight and commentary that comply with legislation and internal controls.

6. Manage, coach, and motivate a team of qualified and part-qualified actuaries, supporting their development and maximizing team performance.

Desired Knowledge / Experience / Skills

Technical Expertise

• Strong commercial awareness and understanding of business needs, applying technical actuarial techniques with commercial insight.
• Experience with complex statistical and financial models across actuarial disciplines, with the ability to interpret and recommend strategic actions.
• Significant experience in the life insurance industry, with expertise in IFRS17 and Solvency II financial reporting, especially for annuity products.
• Proven project management skills for delivering complex projects on time.
• Ability to make independent, complex decisions with sound judgment and commercial sense.

Communication

• Excellent written and verbal communication skills tailored for all management levels, including Board members.
• Ability to adapt messaging for different audiences, simplifying technical information effectively.
• Strong influencing skills, engaging with senior management to achieve desired outcomes.

Relationship Building

• Ability to develop and maintain strong relationships across functions, acting with integrity and exemplifying company values.
• Excellent interpersonal and networking skills, adaptable to different individuals and contexts.

Taking Initiative

• Exceptional problem-solving skills, attention to detail, and ability to identify issues and dependencies.
• Self-motivated, organized, pragmatic, and capable of working independently.

Developing Self and Others

• Experience in managing and motivating diverse teams, with strong coaching skills.
• Committed to ongoing professional and personal development.

Qualifications

• Fellow of the Institute of Actuaries or equivalent qualification.

Benefits

We offer a competitive salary and benefits package, including pension, bonus scheme, income protection, private medical insurance, and life assurance. We also support personal and professional development.

Our Culture

We value doing the right thing, fostering curiosity, ownership, collaboration, and resilience. We invest in our people, technology, and workplaces, offering training and flexible working options.

Diversity & Inclusion

We are committed to creating an inclusive environment where everyone can thrive, regardless of gender, ethnicity, or background. We believe diverse perspectives drive better futures.