Actuary, Actuarial Reporting - 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)
The Role
After a very successful period of growth over recent years CL Re has developed a significant and diverse portfolio of reinsurance transactions. CL Re now has ambitious plans to grow its asset intensive reinsurance (funded reinsurance) business significantly over the next five years. Consequently, the pricing, investment, ALM, reporting, risk and governance capabilities are being developed accordingly.
The Actuarial Reporting team is a cornerstone of the Actuarial Function. The team is responsible for the actuarial reporting deliverables of the Dublin office (actuarial liabilities, earnings analyses, capital, ALM reporting, business plan, financial condition testing etc.).
A bright, talented and motivated individual is sought to fill a newly created qualified actuary role on the team. This role will support the asset and ALM reporting activities within the Actuarial Function. This role would suit a curious, ambitious and innovative actuary who enjoys working in a fast paced, dynamic environment and thrives operating in a setting where processes are yet to be fully defined and developed.
The successful candidate will gain exposure to a wide range of reinsurance transactions, asset classes and investment strategies. They will work alongside and learn from skilled, experienced actuaries and investment professionals across CL Re and the wider Lifeco Group. This is a great opportunity to join early on our journey to build out the Actuarial Reporting team to support the asset intensive reinsurance (funded reinsurance) business.
The breadth and depth of responsibility of the role will be tailored to suit the skills and experience of the successful candidate who will:
- Support the production of the asset and ALM aspects of the quarterly (e.g., liabilities and earnings, capital) and annual (e.g., business plan, financial condition testing) actuarial reporting deliverables.
- Analyse and understand:
- The assets and liabilities on the CL Re balance sheet and the investment activity each quarter.
- Movements in key economic inputs (including risk-free rates, credit spreads, inflation, asset default provisions) and how these impact the financial and capital reporting.
- Draft accurate, clear and concise documentation and effectively communicate insights and results to key stakeholders, including the financial and capital reporting teams.
- Work with the Business Development team, the Asset Intensive Reinsurance team and the various actuarial teams to implement new transactions into the actuarial reporting production environment.
- Work with the Asset Intensive Reinsurance team, the CL Re and Lifeco ALM teams and Investment Management teams to determine the implications on actuarial reporting of proposed investment strategies.
- Support the design, development, planning and implementation of improvements to actuarial reporting models and processes (including governance and controls) to optimise existing reporting, accelerate reporting timelines and enhance the controls environment.
- Support the design, development, planning and implementation of relevant CL Re and Lifeco projects and strategic initiatives.
- Keep up to date with emerging experience and best practice through engagement with colleagues across the Division, Lifeco, the relevant professional bodies and individual research.
The Person
The ideal candidate will have:
- Completed the actuarial examinations with at least three years relevant experience in either a life insurance or life reinsurance environment.
- Some experience of data management, asset or ALM reporting, interest and inflation modelling, financial reporting, capital reporting or cash flow modelling.
- 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.
- An assertive and self-motivated personality with the capacity to work autonomously, as part of a team and across teams.
- An ability to plan work, manage time effectively and deal with changing requirements to ensure timely completion of all deliverables.
- The capacity to effectively and efficiently to solve problems and make decisions to ensure successful completion of deliverables.
- Well-developed verbal and written communication skills.
- Significant experience of MS Excel, MS Word and ideally MS PowerPoint.
- Some experience of modelling software (ideally Prophet), SQL, R and data visualisation software (ideally Power BI).
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, more recently, Asia. CL Re offers a range of innovative risk and capital management solutions covering mortality, longevity, health, lapse and investment risk for insurers, reinsurers, and pension funds. CL Re is continuing to expand the reinsurance 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 160 reinsurance professionals, including 110 actuaries and trainee actuaries. It is a proactive, inspiring, and friendly environment where talent and hard work are recognised and rewarded.
As a Company we are committed to a diverse and inclusive workplace where employees can thrive and reach their full potential.
Lifeco and its companies have approximately $2.8 trillion in consolidated assets under administration and a capital ratio (LICAT) of 128% (as at 31/12/2023).
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.