Who we are
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.
What we’re building
Canada Life UK is transforming its Wealth businesses, creating a new division to focus on delivery of customer-focused, multi-product, financial planning solutions – developed on a bespoke digital platform. With the establishment of this new business division, a new Risk Management team is being created within the Risk Function, to provide risk oversight to this new area.
This is a 2nd Line role, and will support the Head of Risk – Wealth to provide independent risk oversight and governance of all risk-related activities across the Wealth business, and to partner the business to provide practical and value-adding risk insights.
The scope of the Wealth Risk Management team includes oversight of, and partnering to, both onshore and offshore elements of the Wealth business. It is expected that this will be delivered with an appropriate split of locations and responsibilities between the Head of Risk – Wealth and this role, It is expected that the UK based activities may sit directly under the Head of Risk role, with this role carrying out the offshore duties under the Head Of Risk’s supervision, but for the right applicants these positions may be reversed.
Support the Head of Risk – Wealth, working as a Risk Management team of 2, to manage the UK Risk Function within the Wealth business areas (including all appropriate underlying legal entity responsibilities, e.g. Canada Life Limited and associated companies in the UK, plus CLI in IoM and CLIAI in Dublin) on a day-to-day basis to deliver strategic risk objectives and support the business in the execution of its strategy, and with sufficient seniority to deputise for the BP in either business unit as workloads demand.
With the Head of Risk – Wealth, apply CLL’s Enterprise Risk Management Framework to facilitate effective and appropriate risk management across the business, encourage an appropriate risk culture and meet the needs of the full range of stakeholders (including regulators).
What you’ll do
•Risk Management Framework: Support the Head of Risk – Wealth in championing the three lines of defence model for risk management across Wealth business areas, to support the implementation, embedding and maintenance of all aspects of an effective, pragmatic and appropriate enterprise risk management (ERM) framework, aligned to Great-West Life’s ERM framework, and including:•Risk strategy, consistent with the business strategy and business objectives
•Risk appetite framework
•Risk oversight and assurance
•Risk identification, assessment, measurement, measurement and reporting
•Risk function charter
•Support the Head of Risk – Wealth in managing the Risk Function, their engagement with the full range of stakeholders and in providing appropriate and relevant reporting to the various Boards and Committees
•Risk Management Framework: Support the Head of Risk – Wealth in ensuring that the implementation of the ERM framework is compliant with relevant regulations and meets the wider expectation of regulators, relative to peer companies.
•2nd Line Oversight, Advisory: Alongside the Head of Risk – Wealth, support the development of appropriate methodologies and processes for ensuring financial stability i.e. ORSA. Providing Risk challenge and oversight as required.
•2nd Line Oversight, Advisory: Support the Head of Risk – Investments in contributing to risk input to material business decision-making, including due diligence on potential business M&A transactions, focussing particularly on oversight and challenge of the nature of risk exposures, capital requirements and governance and their subsequent impact on CLL.
Who you are
•Experience in the life insurance industry.
•Knowledge of enterprise risk management and the relevant regulations, including the technical aspects relating to the quantification and analysis of a wide range of risks
•Experience of embedding and maintaining an enterprise risk management framework
•Experience of second line of defence risk oversight activities
•Strong communication skills, demonstrating a clear and articulate standard of written and verbal communication in a complex environment, tailored for all levels of management, including Board level
•Strong influencing skills, with experience of engaging with Boards and 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 at delivering reporting requirements under tight time pressure with attention to detail
•Self-motivated, well-organised, pragmatic and able to perform tasks independently.
•Relevant Risk Management, Finance or Investment (i.e. IMC) management qualification.
What you’ll like about working here
As a Canada Life UK colleague, you’ll receive a competitive salary and comprehensive reward package including car allowance, income protection, private medical insurance and life assurance, along with a generous pension and bonus scheme. You’ll also receive the support you need with your personal and professional development.
Our focus is to have an engaged, committed and motivated work force, operating in a high performing and collaborative culture. We want to create an organisation that offers opportunities for all our people to develop their skills and talent, and build rewarding careers with us.
Diversity and inclusion
Canada Life is committed to a diverse and inclusive workplace. Our role as an employer of choice is to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences