| Company Name | eFinancialCareers |
| Job Designation | Senior Actuary BPA Re-Insurance |
| Job Location | City of London, London |
| Job Type | Permanent / Fulll Time |
| Salary | Competitive Salary |
Company Profile
Canada Life UK is dedicated to addressing the retirement, investment, and protection requirements of individuals, families, and businesses. Our mission is to contribute to brighter futures for our clients, intermediaries, and employees by embracing a modern, adaptable, and inclusive approach.
As a subsidiary of the esteemed Great-West Lifeco, Canada Life UK has been a part of the United Kingdom’s financial landscape since 1903. We take pride in our dedicated team of professionals who are deeply committed to serving our customers and colleagues with integrity.
Canada Life UK is currently undergoing a transformation to establish a more customer-centric business model. This involves offering our customers expert guidance on financial and tax planning, presenting home finance and annuities solutions, and delivering collective fund options to external clients.
Job Purpose
We have an exciting opportunity for a qualified actuary to join our Bulk Purchase Annuity (BPA) pricing team with a specific focus on reinsurance.
In this role you will be responsible for ensuring the effective implementation of the reinsurance strategy and arrangements within BPA Pricing.
This involves building strong relationships with external partners and collaborating with colleagues across the organization.
In this role you will be responsible for ensuring the effective implementation of the reinsurance strategy and arrangements within BPA Pricing.
This involves building strong relationships with external partners and collaborating with colleagues across the organization.
Key Accountabilities
- Execute the reinsurance strategy to enable competitive pricing for our BPA business.
- Take responsibility for implementing the reinsurance basis in BPA and effectively communicate these assumptions to key stakeholders, including the Head of BPA New Business, BPA Quotes Manager, BPA Managing Director, and CFO.
- Cultivate and nurture relationships with a diverse range of reinsurers.
- Manage and negotiate live reinsurance pricing for BPA quotes, including reinsurance terms.
- Serve as a subject matter expert on BPA reinsurance, collaborating with various internal departments to ensure that arrangements are comprehensively understood and consistently implemented across the organization (e.g., longevity swaps, quota share reinsurance).
- Contribute actively to the BPA Pricing team by providing regular updates at team meetings and offering training to colleagues as needed.
- Ensure the establishment of governance and processes in line with CLL Reinsurance Policies and Standards.
Desired Knowledge / Experience / Skills
- Strong understanding of UK Defined Benefit pensions.
- Familiarity with the BPA market, its products, and reinsurance structures.
- Proficiency in pricing, capital modeling, and profit testing.
- Ability to establish and maintain effective relationships with individuals at all organizational levels (both internal and external).
- Strong negotiation and communication skills, with the capability to convey technical concepts to senior individuals, including those without actuarial backgrounds.
- Understanding and proficiency in implementing/maintaining an actuarial control framework.
Qualifications
- Qualified Actuary (with relevant post-qualification experience)
What You’ll Appreciate About Working Here
As a member of the Canada Life UK team, you will receive a competitive salary and a comprehensive benefits package that includes income protection, private medical insurance, life assurance, a generous pension plan, and bonus opportunities. We are also committed to supporting your personal and professional development.
Diversity and Inclusion
Canada Life is firmly committed to fostering a diverse and inclusive workplace. Our role as an employer of choice is to create an environment where talented individuals can thrive by respecting, understanding, and valuing their unique differences.
We understand that everyone has distinct work and life responsibilities, and we are open to discussing flexible working arrangements, including part-time options, for any of our roles as needed.
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