Executive Manager, Investment Solutions, Asset Intensive Reinsurance
Dublin, IE
Full Time Permanent Term Contract position
Hybrid role based in our Dublin City Centre or London UK 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
We have ambitious plans to grow balance sheet assets in the coming years which will require additional investment capabilities, governance, and reporting.
This has resulted in this newly created role, reporting directly into the Head of Asset Intensive Reinsurance.
You will be based in either Dublin or London and you will be a key part of the Asset Intensive Reinsurance team who implement and manage investment strategies across the global reinsurance business.
The role will involve significant coordination with stakeholders across Finance, Actuarial, Reinsurance Collateral Operations, as well as internal and external investment managers.
Specific responsibilities will include:
- Developing and executing liability driven investment strategies, including portfolio construction and repositioning to support the acquisition of new reinsurance business.
- Proposing transaction specific asset and hedging strategies that optimize return on capital within regulatory, accounting, operating and risk management constraints.
- Supporting new business pricing with input on asset and credit related pricing assumptions for Asset Intensive transactions.
- Working closely with investment managers to determine the best path to transaction execution, including analysis of market risks and portfolio transformation strategies.
- Helping negotiate investment guidelines and treaty terms with clients to deliver the flexibility necessary to manage asset risk and generate target return.
- Being responsible for transaction implementation including operational aspects of receiving the client portfolio and deploying assets into the chosen Strategic Asset Allocation
- Helping develop a liquidity framework for derivatives strategies and a LDI approach to investment.
- Working closely with the derivatives and market risk teams to ensure strategies employed are priced correctly and liquidity is actively monitored and managed over the transaction life.
- Supporting the Asset Intensive team to deliver significant asset growth in the global annuity and life reinsurance markets in the next 3 to 5 years.
What you’ll need to be successful on the role:
The ideal candidate will have/be:
- Significant experience gained within an investment bank, life reinsurer, PRT insurer, or investment manager ideally focused on liability driven credit investing for (re)insurance balance sheets.
- Experience of collateralised reinsurance, working with different investment solutions and investment managers strongly desired.
- Excellent knowledge of interest rate derivatives, bond, and repo markets, TRS, and liability driven investment.
- Experience of interest rate and/or credit structuring solutions including areas such as forward bonds, term repo, optimising cross currency hedging strategies, SPV repack and fund structures.
- Quantitative approach to investment analysis and happy to help support development of our ALM and pricing models.
- Highly numerate with strong organisational and problem-solving skills
- CFA qualified and/or bachelor’s degree in finance or a relevant Quantitative field with 7+ years relevant work experience.
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.