Canada Life and Irish Life
Senior Actuarial Trainee
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Senior Actuarial Trainee
Actuarial Student Scheme Role – Bulk Purchase Annuities (New Business Pricing)
Location: Bristol, London or Watford
Canada Life UK delivers retirement, investment, and protection services, helping individuals, families, and businesses build better futures. As part of Great-West Lifeco, we’ve operated in the UK since 1903, driven by hundreds of purposeful and supported employees committed to ethical customer and colleague care.
We are transforming by enhancing our financial and tax planning expertise, expanding home finance and annuities, and offering collective fund solutions.
Job Purpose
Join our actuarial student scheme for hands-on experiences in preparing for Fellowship of the Institute and Faculty of Actuaries (or equivalent).
Your first rotation will be in Bulk Purchase Annuities (BPA), within New Business Pricing, where you’ll:
- Collaborate on pricing processes.
- Execute bulk annuity transactions.
- Work with defined benefit pensions to model cash flows, interpret data, and assess financial metrics.
Each rotation lasts 18 to 24 months, with future placements likely in broader actuarial teams.
Key Accountabilities
Core Responsibilities
- Support pricing & execution:
- Price and execute bulk annuity transactions.
- Data integrity & modelling:
- Accurately process and model scheme benefits data.
- Improvements & efficiency:
- Identify opportunities to refine pricing tools and processes.
- Collaboration & adaptability:
- Work across BPA teams: BPA reinsurance, Data Verification, Member Options.
- Tailor approaches to diverse stakeholder needs.
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Technical & Professional Skills
- Actuarial techniques:
- Apply technical skills with awareness of business/commercial pricing impacts.
- Professional development:
- Progress towards actuarial qualification while balancing work and study.
- Model maintenance:
- Develop/upkeep pricing methodologies and models aligned with:
- Technical Actuarial Standards
- End User Computing requirements
- Develop/upkeep pricing methodologies and models aligned with:
- Compliance & controls:
- Follow risk management procedures and adhere to governance/reporting frameworks.
- Regulatory compliance:
- Meet Company policies and regulatory/legal requirements.
Desired Knowledge, Experience & Skills
- Actuarial foundation:
- Student actuary with prior actuarial experience (exposure to Prophet advantageous).
- Numerical & analytical skills:
- Strong data manipulation and problem-solving (excellent attention to detail).
- Excel proficiency:
- Advanced MS Excel skills.
- Data literacy:
- Experience working with complex data to derive conclusions and recommend solutions.
- Communication:
- Clear, engaging oral and written communication for internal/external audiences.
- Teamwork & project management:
- Strong abilities to work independently or collaboratively on projects.
- Specialised interest:
- Keen insight into bulk purchase annuities/dynamic benefit pensions.
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Benefits
We value our team, which is reflected in a competitive salary and benefits package. Benefits include:
- Generous pension & bonus scheme
- Income protection, private medical insurance & life assurance
- Training & personal/professional development opportunities
- Flexible working policies (including part-time options on request)
Company Culture
At Canada Life, our core blueprint behaviours guide our work:
- Be curious
- Own outcomes
- Collaborate openly
- Find solutions together
We invest in employee development by providing:
- Training initiatives
- Flexible working options
- Career growth opportunities
Diversity & Inclusion
Canada Life is fully committed to:
- Building an inclusive culture where everyone can thrive.
- Prioritising diversity, equity, and inclusion (DEI).
“Great people from diverse backgrounds and perspectives build better futures.” — Nick Harding (Chief People Officer, Canada Life UK)
Support requests, such as flexible work arrangements, are welcome for all roles. Let’s build futures — together.
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