Senior Actuary (BPA - Pricing team)

Irish Life; Potters Bar; Hybrid; GBP 150,000 - 200,000; Full time

Job summary

A leading financial services provider in the UK is looking for a qualified actuary to join its Bulk Annuity Pricing team. The successful candidate will be responsible for pricing recommendations, managing stakeholders, and contributing to contract negotiations. Knowledge of UK Defined Benefit pensions and familiarity with the bulk annuity market are essential. The role offers a competitive salary and a comprehensive benefits package, along with a commitment to diversity and inclusion. Flexible working arrangements are available.

Benefits

Competitive salary

Generous pension scheme

Bonus scheme

Private medical insurance

Income protection

Regular personal and professional development

Responsibilities

• Provide pricing recommendations for bulk annuity buy-ins and buy-outs.
• Liaise with investment front office for asset identification.
• Teamwork with reinsurance actuaries for quotations.
• Review legal agreements for contract negotiations.
• Support business development and relationship management.
• Develop pricing bases and models adhering to risk tolerances.
• Manage stakeholders to ensure compliance with risk governance.
• Stay updated on industry issues and developments.

Skills

Strong knowledge of UK Defined Benefit pensions

Familiarity with bulk annuity market and products

Experience of managing stakeholders

Strong communication skills

Understanding of capital modelling and profit testing

Ability to implement/maintain an actuarial control framework

Qualified actuary

Job description

Job closing date: 9th January (please note we will be unable to respond to your application until the closing date)

Locations: Will consider Bristol, Hertfordshire or London Office.

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

There is an opportunity for a qualified actuary to join the Bulk Annuity Pricing team. Successful applicants will be responsible for providing pricing recommendations and working with the wider BPA team to achieve annual new business targets.

Key Accountabilities

• Responsible for quotations and providing pricing recommendations for bulk annuity buy-ins and buy-outs
• Liaising with investment front office to identify suitable assets to support bulk annuity transactions
• Team working with reinsurance actuaries to ensure reinsurance appropriately incorporated within quotations
• Reviewing legal agreements and contributing to contract negotiations with external stakeholders
• Supporting business development and relationship management
• Contributing to the development of Canada Life’s pricing bases and pricing models that adhere to Canada Life’s risk tolerances and are scalable for future growth
• Managing stakeholders and ensuring compliance with risk governance
• 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

Desired Knowledge / Experience / Skills

• Strong knowledge of UK Defined Benefit pensions
• Familiarity with bulk annuity market and products
• Understanding of capital modelling and profit testing
• 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
• Qualified actuary

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.