Irish Life Group Services Limited

Location: London Duration: 6 months fixed term contract. Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation. Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleagues. Canada Life UK is transforming to create a more customer-focused business by providing our customers with expertise on financial and tax planning, offering home finance and annuities propositions, and providing collective fund solutions to third party customers. Support the Risk & Compliance department in delivering the desired output of a financial risk nature within the UK Division's Risk & Compliance Function. Contribute to the overall ORSA and take responsibility for workstreams within the wider ORSA Process. Support the Risk & Compliance department in ensuring that the financial risk aspects of the Enterprise Risk Management Framework facilitate effective and appropriate financial risk management across the UK Division. Key Accountabilities Supporting the Own Risk and Solvency Assessment (ORSA) process and ORSA report (or equivalent) for entities within the UK Division. Regular activities include: Design and implementation of Stress and Scenario testing (including reverse stress testing), ensuring appropriate alignment with CLG and Great-West Lifeco exercises. Reviewing and analysing the results of the forward-looking solvency assessment, stress and scenario testing and the OSNA exercise to identify conclusions and recommendations. Leading the drafting of sections within the ORSA Report. Ensuring maintenance of the ORSA Record and Stress & Scenario Testing Standard. Ensuring that the ORSA Policy is adhered to. Following up on management actions resulting from the ORSA process. Support the Head of Risk Oversight - Insurance & Capital and risk Business Partners in providing (financial risk) oversight of the first line: Reviewing UK division pricing or underwriting initiatives (e.g., assumptions review, new products, bulk annuity transactions). Review and oversight of key corporate initiatives (e.g., Finance Transformation, IFRS17, reinsurance, capital optimisation, M&A activity). Review of the business planning process. Ad hoc risk reviews as required. As a key member of the Insurance & Capital Risk Oversight team, maintaining the risk appetite framework for CLL, as part of the wider enterprise risk management framework. Regular activities include: Reviewing the Risk Appetite Framework, including enhancements to coverage and reporting. Setting of Risk Limits, ensuring they are continually aligned with the risk strategy of the business, and appropriately aligned with limits set by CLG and Great-West Lifeco. Reporting of risk exposures and associated Key Risk Indicators relative to risk appetite limits, including appropriate insight and commentary. Drafting the financial risk-related sections of the CRO Report. Co-ordinate with CLG and Great-West Lifeco in order to: Ensure alignment of Risk Appetite Frameworks and Risk Strategy. Monitor and review UK-division driven exposures within CLG and Great-West Lifeco Risk Appetite Frameworks. Adhere to oversight requirements on first line activity. Relationship-building and knowledge sharing. Support the Risk & Compliance department in managing and developing the team in order to optimise team performance. Desired Knowledge / Experience / Skills Experience in the life insurance industry. Good working knowledge of integrated risk and capital management as part of a wider enterprise risk management framework. Deep knowledge and understanding of Solvency II requirements. Experience of second line of defence risk oversight activities. Strong written and verbal communication skills, in particular of complex concepts, which can be tailored for all levels of management. Strong influencing skills, with experience of engaging with senior management in order to get desired outcome. Good interpersonal/networking skills, with the ability to maintain a variety of relationships with multiple stakeholders. Proven track record of delivering under tight time pressure. Self-motivated, well-organised, pragmatic and able to perform tasks independently. Benefits of working at Canada Life We believe in recognising and rewarding our people, so we offer a competitive salary and benefits package that's regularly reviewed. As a Canada Life UK colleague, you'll receive a competitive salary and comprehensive reward package including a generous pension and bonus scheme, along with, income protection, private medical insurance and life assurance. We have a fantastic number of other benefits and support services as well as regular personal and professional development. How we work at Canada Life Our culture is unique and incredibly important to us. We care about doing the right thing for our people, customers and community and helping others to build better futures. Our blueprint behaviours shape and influence how we work, and are central to the relationships we have with others. Every day we are encouraged to be more curious, own the outcome, face into things together and find a way forward. We want colleagues to have rewarding careers with us so we invest in the development of our people, technology and workplaces. That's why we offer a range of training, flexible working and opportunities to grow and develop. Diversity and inclusion Building an inclusive workplace with a diverse workforce where everyone can feel they belong and achieve their potential regardless of gender, ethnicity or any other characteristic is a key commitment for us. We are proud of the progress we're making in DEI, and we continue for it to be a significant focus. "At Canada Life we believe in the power of great people from different backgrounds, experiences and perspectives coming together to build better futures. Emerging talent is crucial to our growth and creating an environment that continues to inspire us all." Nick Harding, Chief People Officer, Canada Life UK We appreciate that everyone has different work and life responsibilities. We're happy to discuss flexible working arrangements, including part time, for any of our roles should this be a requirement for you.