FP&A Partner

1 month ago

Potters Bar, United Kingdom Canada Life Limited Full time
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.

Job Purpose
The FP&A Partner role supports a number of the core FP&A functions, namely:
a) the production of the business plan and forecasting,
b) management of the P&L for the respective business,
c) acting as a point of liaison for the CFO and their Finance function with the business units and,
d) providing insightful analysis of financial and commercial performance against Plan and forecast to both the UK management team and our parent company in Canada.

The FP&A Partner works closely with the Pricing and Distribution teams in each business to understand trading and commercial performance, . In doing so, the Partner works with the Business Unit to ensure that the new business we are writing meets our return-on-investment targets and is aligned with our risk appetite.

The FP&A Partner provides independent review and challenge of business performance - including how business initiatives and the benefits associated with them will support the competitive positioning and financial outlook for the business. This individual and will also be credible when communicating with stakeholders and contribute effectively to senior management meetings. In particular, the Partner supports the financial and commercial decision- making of the business senior leadership team.

Duties/Responsibilities
Supports the Head of FP&A and Financial Performance Director to deliver an effective and credible FP&A function to the business. This requires the role holder to possess sufficient relevant expertise, experience and insight to manage the P&L for the relevant line of business. At a more detailed level, this involves the provision of support (or sourcing / facilitation of support from elsewhere in the Finance function) to a life insurance or wealth management business in the following areas: Technical Accounting Financial and management reporting (e.g. on business volumes, mix, and margins) to inform SLT decision making, and Interpretation and use of actuarial judgements and management information (i.e. Solvency II capital and IFRS17 impacts) Oversees the provision of smooth running and efficient forecasting, planning, analysis and management reporting process providing consistent and high quality information to support the respective business in making sound, strategic business decisions in respect of its operations including providing effective expense discipline (both BAU and projects).

Supports the Head of FP&A and Financial Performance Director by robustly reviewing and challenging the both the outputs from / and the inputs into Finance to ensure that the numbers are credible and ensure that the supporting commentary links to both the market and respective business unit performance in a meaningful way. Key outputs include:

1) Management Information
2) Annual budgeting and forecasting (including quarterly reforecasting)
3) Commentary on Canadian earnings including analysis versus plan
4) UK local entity reporting including UK GAAP /IFRS financial statements (as applicable) and Solvency II (if applicable)

Critical to the establishment of a high quality business partnering model, that meets both the needs of the respective business unit and the expectations of the CFO and Financial Performance Director.
This includes establishing and maintaining agreed SLA's for scheduled and ad hoc activities - including the operation of processes and timely delivery of outputs that are complete, accurate, relevant and are landed on a 'no surprises basis.

Skills, Knowledge and Experience Part Qualified or Qualified Actuary/Accountant with good financial services industry experience including proven understanding of the marketplace and competitor environment in which the respective business unit operates. Ability to build collaborative relationships across functions and business to facilitate cooperation and information exchanges that improve customer and business outcomes Demonstrates strategic understanding of the life insurance industry Excellent quantitative business analytical skills Excellent risk, balance sheet and financial planning skills Ability to interpret and apply actuarial/finance techniques to business problems Strong communication and stakeholder management skills - able to address both technical and non-technical audiences in formal and informal setting Strong influencing skills Able to work successfully in a collaborative manner within a matrix organisational structure and framework. 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.