Job Details
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.
The role holder will develop and lead a commercially focused pricing team covering all Individual Annuity and ERM products. Ensuring that all pricing models are driving good customer outcomes, ensuring fair value. They will also be responsible for ensuring the pricing models and driving commercial value for the Retirement business.
The role holder will be expected to collaborate with other areas key functions to ensure that the impacts of pricing assumptions are understood and agreed. They will be expected to lead on pricing decisions across the Retirement product lines and be able to clearly articulate the commercial impacts of all changes.
They will manage, motivate, and develop a team of pricing professionals, ensuring compliance with all corporate policies and standards.
They will be expected to present at a senior level (Boards and Committees) on pricing decisions and commercial impacts, using strong influencing skills to drive best value for Retirement business and CLUK.
What you'll be accountable for:
What you'll be responsible for:
Responsible for commercial and fair value pricing individual annuities and equity release mortgages, this includes:
Responsible for ensuring that capital requirements are fully understood and reflected within pricing (SII, Partial Internal Model, LICAT).
Management of the production and review of experience studies and development of pricing, projection or valuation assumptions where relevant.
Responsible for working alongside Investments team (Asset Management) to ensure that the asset strategy for individual annuity new business is effective, including supporting the partial internal model and use of equity release mortgages.
Monitor the market landscape for the relevant products and ensure a comprehensive understanding of competitors’ pricing strategies and tactical positioning.
Research and analyse internal and external data sources, develop models, analytical tools and techniques to provide insight into competitor pricing.
Responsible for oversight of pricing MI, including working with the distribution teams to expand and fully understand MI that is available.
Keeping abreast of industry issues and developments to ensure the business processes and strategies are in line with the industry.
Manage, develop and motivate a team of Pricing professionals, including Actuaries and Actuarial trainees in order to optimise the performance of the team in line with the Division’s objectives. Develop the skills and knowledge of the team so that they have the expertise to achieve the business requirements, as well as maximising individual development.
Building a commercial culture across Retirement, actively seeking out suitable commercial opportunities that work alongside CLUK strategies and goals.
Provide appropriate support to managers and others to implement recommendations/facilitate change to support the requirements of the business.
Authorisation for approving Individual Annuity transactions in line with CLL Governance framework.
What you'll bring to the role:
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.