Head of Balance Sheet Optimisation

Role Overview

Following a sustained period of strong growth, CL Re has built a significant and increasingly complex portfolio of reinsurance transactions. In response, CL Re has established a centralised ALM and Balance Sheet Management Function to support the scale and complexity of the business. The Function’s core objectives are to embed an enterprise balance sheet view into strategic and commercial decision‑making and to actively optimise the enterprise balance sheet across asset strategy, earnings, capital, liquidity and commercial outcomes.

We are seeking a pragmatic, forward‑thinking leader to design, build and embed a best‑in‑class balance sheet optimisation capability. You will operate comfortably in a dynamic and evolving environment, combining technical rigour with commercial judgement and strong cross‑functional influence. You will be a trusted partner to senior stakeholders across ALM, Investments, Finance, Actuarial and Risk, reporting to the Head of ALM and Balance Sheet Management.

What you will help us to achieve

• Embed an enterprise balance sheet perspective into key strategic and commercial decisions across CL Re.
• Build and lead a robust balance sheet optimisation capability that enhances asset strategy, earnings, capital efficiency, liquidity resilience and commercial outcomes.
• Strengthen CL Re’s first‑line ALM risk framework to ensure risks are identified, monitored and actively managed.
• Translate Group and Divisional balance sheet objectives into tangible, prioritised initiatives that deliver measurable value.
• Enhance CL Re’s position as a sophisticated, analytically driven participant in international reinsurance and investment markets.

More specific responsibilities will include

Reporting to the Head of ALM and Balance Sheet Management, you will:

• Develop and maintain a deep, end‑to‑end understanding of the CL Re balance sheets and associated ALM exposures.
• Establish and operate the first‑line ALM risk framework, including ongoing monitoring and active management of ALM risks.
• Define, maintain and evolve balance sheet optimisation criteria and constraints across asset strategy, earnings, capital, liquidity and commercial objectives.
• Own the design and build of the balance sheet optimisation analytics capability, ensuring insights are reliable, robust, actionable and scalable.
• Translate Group and Divisional balance sheet optimisation objectives into clearly prioritised initiatives and delivery plans.
• Partner closely with the Asset Strategy and ALM Reporting leads to identify, structure and execute end‑to‑end ALM and investment value‑generative activity for CL Re and Great‑West.
• Act as a leader within the CL Re ALM community, contributing to the development of strategy, standards and ways of working, and demonstrating best‑in‑class professionalism.
• Engage with centres of expertise across the Group to ensure methodological consistency and remain at the forefront of emerging market, regulatory and analytical developments.
• Represent the ALM & BSM function at the CL Re ALM Review Committee and the CL Re Investments & ALM Steering Committee on balance sheet optimisation matters.
• Represent CL Re internally within Great‑West forums and externally with industry peers, market participants and specialist vendors.
• Maintain a strong external perspective by monitoring relevant regulatory, market, competitor and industry developments, assessing implications for CL Re and translating insights into action where appropriate.

What you will need to be successful in the role

• A recognised actuarial qualification with typically 10+ years of post‑qualification experience.
• Demonstrated depth of experience across a number of the following areas:
  • Investment and ALM risks, including interest rate, inflation, currency, liquidity, deployment and reinvestment risk.
  • ALM techniques such as asset and liability cash‑flow modelling, interest rate and inflation modelling, cash‑flow matching and optimisation.
  • Capital, liquidity and collateral considerations within reinsurance or complex insurance environments.
  • Financial, capital, ALM and liquidity reporting across multiple regulatory regimes.
  • International reinsurance and investment markets, products and industry trends.
    
    
• A growth mindset, intellectual agility and strong commercial focus, with the presence and credibility to operate effectively at executive and committee level.
  Experience leading or shaping analytics and modelling capabilities, including practical experience with:
  • Investment data (e.g. Bloomberg, Refinitiv, ICE Data Services).
  • Modelling tools (e.g. Excel, Prophet, Python, R).
  • Data management (e.g. SQL).
  • Data visualisation (e.g. Power BI).
    
    
• A genuine appetite to explore and apply modern AI‑enabled techniques and new ways of working to deliver deeper insight, improved decision‑making and operational efficiency.
• A collaborative mindset, with a demonstrated ability to build trust, influence outcomes and align stakeholders across functions without direct reporting lines.
• Excellent judgement and prioritisation skills, with the ability to manage multiple complex workstreams in parallel whilst balancing urgency and strategic importance.
• The capacity to solve complex problems and to translate findings in a way that educates other leaders and supports appropriate outcomes.
• Highly effective communication skills, with a proven ability to translate complex technical concepts into clear, relevant insights for different audiences.
• A high level of comfort operating in an environment with ambiguity, change and uncertain parameters.
• A strong work ethic, pragmatic approach, flexibility in working patterns and a willingness to travel occasionally.