Location:Dublin, IE
Company: Canada Life Group Services
Description:
Canada Life Assurance Europe plc (‘CLE’) has been operating in Germany since 2000 supporting over 600,000 individual customers and 35,000 employer relationships, advised by independent brokers, across unit-linked pension savings, retirement and protection solutions. Its growth strategy sees an increasing focus on the customer and broker experience, developing innovative propositions in Group Business and Retirement as well as exploring new routes to market.
With our purpose to help more people in Germany build stronger, more inclusive, and financially secure futures, CLE is authorised by the Central Bank of Ireland and regulated by the German regulator Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) for conduct of business rules. As part of the Great West Lifeco group of companies, with over 175 years of history and 40 million customers, the business employs 800 people across its Irish and German offices and while still relatively young in its business lifecycle, is already a solid contributor to the Great West Lifeco European Division earnings.

ROLE OVERVIEW

CLE is seeking applications from suitably qualified candidates for the role of Senior Manager, Capital Reporting & Analysis.
The Capital Reporting & Analysis team is a key part of CLE’s Actuarial Function and is responsible for a variety of tasks such as reserve and capital calculations, capital and liquidity projections, detailed capital analysis, and report writing and presentation.

MORE SPECIFIC RESPONSIBILITIES WILL INCLUDE

• Lead CLE’s quarterly Solvency II actuarial reporting processes including the calculation of Solvency II technical provisions and the Solvency Capital Requirement (‘SCR’) on a quarterly basis, calculation of CLE’s overall solvency position and analysis of movements in the solvency position.
• Lead the process for producing the quarterly and annual quantitative reporting templates (‘QRTs’) which are prepared by the Actuarial Function and collaborate with the Finance Function to deliver the overall Solvency II return.
• Preparation of Actuarial Function Report on an annual basis.
• Quarterly calculation of LICAT capital requirements for the German division of Great-West Lifeco and production of analysis relating the overall capital position of the German division under LICAT.
• Support business planning and strategic review processes by producing capital projections under Solvency II and LICAT as well as analysis of capital generation under both bases.
• Lead the process to produce sensitivity and scenario testing for use in local and Group ORSA processes, for Financial Condition Testing (‘FCT’) produced by Lifeco and for business planning.
• Develop a deep understanding of CLE’s capital position on both the Solvency II and the LICAT basis and use this understanding to perform capital analysis to identify trends and capital optimization opportunities that will assist management’s decision making.
• Manage and develop a team of actuarial professionals to deliver on the team’s objectives.

WHAT YOU WILL NEED TO BE SUCCESSFUL IN THE ROLE

The preferred candidate will ideally have:

• An actuarial qualification (FSAI), or other appropriate professional qualification, with significant post-qualification experience working in life insurance.
• A strong blend of technical ability, judgement and commercial awareness.
• Excellent problem-solving and decision-making ability, strong analytical skills and attention to detail.
• A proven ability to effectively manage multiple priorities and deliver to tight timeframes, allowing sufficient time for review by relevant stakeholders.
• Knowledge of Solvency II and LICAT reporting or a proven capability to quickly acquire knowledge on these matters.
• Excellent communication skills, and in particular, a proven ability to explain complex issues clearly and concisely to a wide range of stakeholders both in writing and verbal.
• An ability to collaborate effectively with other functions within the business and with Lifeco as required.
• An ability to effectively lead a team of professionals and to develop the team to perform to the best of its capabilities.
• Strong work ethic and a good sense of energy and urgency and priority setting.
• An ability to deliver insights that impact business outcomes.
• Knowledge of the German life insurance market would be an advantage.