Actuarial Manager, Capital Management, Permanent, Canada Life Reinsurance
Dublin, IE
Full Time Permanent position
Hybrid role based in our City Centre offices
What we offer
We have embraced a hybrid working model for most of our positions, which means that you can enjoy a balanced approach of working from home for part of the week and working from the office for the remainder of the week.
We offer a comprehensive benefits package including competitive salaries and bonuses, robust Learning and Development support, excellent Defined Contribution pension and comprehensive Wellbeing initiatives and support to name but a few.
Further details on our benefits package can be accessed here Benefits (life-careers.com)
Role Overview
After a very successful period of growth over recent years CL Re has developed a significant and diverse portfolio of reinsurance transactions. This has coincided with an increased focus within Lifeco on capital management. As a result, in 2023, CL Re appointed a Head of Capital Management to lead CRS initiatives related to Capital Management. As the requirements of the Capital Management function continue to expand, a bright, talented and motivated actuary is now sought to fill a Manager role supporting the Head of Capital Management.
This role would suit a curious, ambitious, and innovative actuary who:
• Enjoys working in a fast paced and dynamic environment.
• Relishes the opportunity to work with complex and bespoke reinsurance transactions, asset strategies and the associated actuarial methodologies. This role will give exposure to all new transaction types being written within the Reinsurance division.
• Would enjoy the opportunity to work with a variety of stakeholders across the CL Re Actuarial, Business Development, Asset Intensive, Operations and Finance functions as well as the wider Group functions (e.g., Actuarial, Risk and Capital functions).
What you will help us to achieve
The breadth and depth of responsibility of the role will be tailored to suit the skills and experience of the successful candidate. The role will support all the requirements of the Capital Management function which includes:
• Reviewing pricing capital requirements on new reinsurance transactions:
o Supporting pricing teams to develop the LICAT proposal on new transaction types.
o Establishing and documenting LICAT practice for non-standard reinsurance business.
o Providing support to the Chief Actuary, Reinsurance through stage-gate sign offs.
• Reviewing quarterly CRS LICAT inforce reporting to ensure consistency with LICAT pricing capital recommendations.
• Co-ordinating the CRS division plan with direction from the CFO
• Being the point of contact for the division on group led LICAT initiatives
• Preparing management information to assist Reinsurance division senior management in making informed capital management decisions.
• Supporting the actuarial functions in setting the base and stressed capital projections under FCT.
• Supporting the Chief Actuary, Reinsurance signoff of the Annual LICAT memo.
• Developing expertise on global regulatory capital regimes including any proposed changes (eg S&P, Hong Kong).
What you will need to be successful in the role
The ideal candidate will have:
• An actuarial qualification with at least three years in a life insurance or life reinsurance environment.
• Strong analytical skills with the ability to interpret model results, review for reasonableness and understand the implications.
• An assertive and self-motivated personality with the capacity to work autonomously, as part of a team and across teams.
• An enthusiastic approach to work with a strong work ethic, a keen appetite to learn and develop and a willingness to work to a flexible schedule.
• Strong communication skills with an ability to interact with stakeholders of various seniority, from across the various functions, in a range of geographic locations.
• An ability to plan work, manage time effectively and deal with changing requirements to ensure timely completion of all deliverables.
• The capacity to solve problems and make decisions effectively and efficiently.
• Well-developed verbal and written communication skills.
• Extensive experience with MS Excel, MS Word, MS PowerPoint.
Key Competencies
About us
Canada Life Reinsurance (CL Re) is a division of Great-West Lifeco Inc. (Lifeco) and a leading provider of client focused reinsurance solutions in the United States, Europe and Asia. CL Re offers a range of innovative risk and capital management solutions covering mortality, longevity, health, lapse, investment, non-life and P&C risk for insurers, reinsurers, and pension funds. CL Re is continuing to expand the solutions it offers to new and existing clients in many global markets.
CL Re has offices in Dublin, Toronto, Philadelphia, Bermuda, Barbados, and Regina. The Dublin office is the base for CL Re’s European and Asian operations as well as the Irish reinsurance entity, Canada Life Re Ireland dac (CLReI). It comprises approximately 170 reinsurance professionals, including 120 actuaries and trainee actuaries. It is a proactive, inspiring, and friendly environment where talent and hard work are recognised and rewarded.
Lifeco is a Canadian headquarter, international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management, and reinsurance businesses. Lifeco and its companies have approximately 32,000 employees, $3.0 trillion in consolidated assets under administration and a capital ratio (LICAT) of 134% (as at 30/09/2024).
As a Company we are committed to a diverse and inclusive workplace where employees can thrive and reach their full potential.
The company reserves the right to draw up a shortlist as part of the selection process. Where Agency assistance is required the Canada Life Recruitment Team will engage directly with suppliers. Unsolicited CVs / profiles supplied to Canada Life Reinsurance by Recruitment Agencies will not be accepted for this role.
Canada Life Group Services is proud to be an Equal Opportunities employer. We have created an environment of inclusion and growth to help people achieve their potential, to ensure they can bring their whole selves to work and to feel valued. We celebrate diversity of thought and perspective and want all of our employees to feel valued, respected and supported. We have built a culture that promotes equality and inclusion for all of our current and future employees and strive to ensure that our behaviours, processes and practices are aligned to this culture.
If you require any accommodations during the recruitment process please contact Lifecareers@irishlife.ie and we will be delighted to ensure you are fully supported to be your best.
CLGS supports Equal Opportunity and is regulated by the Central Bank of Ireland.