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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.
This is a 12 month fixed term contract for a qualified actuary within our longevity and catastrophe team.
This position will be located in our Potters Bar office
Annuitant mortality is our single biggest risk as a business. This role exists to help understand how to optimise our management of this risk and to understand what the latest research (both actuarial and external) in this fast changing field suggests about how longevity will develop in future
Longevity risk analysis
o Supporting the ongoing maintenance of the longevity risk model for Solvency II purposes, ICA as required, and wider applications within the business o Supporting extension of the risk model to support strategic business development projects currently underway o Support the implementation of risk model changes currently being developed in order to improve performance of specific model elements o Assisting with annual model calibration and validation tasks, as necessary o Responding to queries from valuation teams, to support production of capital modelling results
Deepening understanding of annuitant mortality o Supporting research into longevity topics from both actuarial and wider sources (e.g. medical, epidemiological, social, etc.) o Supporting the ongoing review of Canada Life's longevity assumptions for pricing and valuation purposes through research and analysis o Assisting in the production of clear reports on these issues to senior management and shaping thinking on these topics within the company
Annuity mortality experience analysis and reporting o Assisting with the development of the experience study process to improve efficiency and broaden the scope of the analysis o Assisting with the production of longevity experience studies o Supporting corporate actuarial in the production of financial results, by providing input assumptions and addressing queries as required
Desired Knowledge / Experience / Skills
Qualified Actuary ideally with technical longevity knowledge and experience or an interest to work in this field together with the proven ability to pick up new technical material quickly
Technically proficient with good modelling skills
Good knowledge of MS Excel and MS Access
Good project management skills
Work well within controls/governance, showing clear and comprehensive audit trails
Ideally: o Experience of fitting statistical models and stochastic modelling o Familiarity with Solvency II requirements o Knowledge of features of defined benefit pension schemes, including deferred pensioner benefits
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