Head of Asset Structuring

3 months ago


London, United Kingdom Canada Life 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 Summary**:
This role is responsible for facilitating the strategic asset allocation (SAA) and investment return assumptions for New Business Pricing through expanded use of appropriately structured illiquid credit. The availability of these structured assets will be directly linked to the success of the UK and wider Group business plans which assume an increasing proportion of illiquid assets will be used to back business in the UK & Europe and require collaboration across the Finance and Asset Management teams at a UK and global level.

Responsibility for structuring of existing illiquid assets such as Equity Release Mortgages (ERMs) and direct property as well as developing strategies to structure a broader range of asset classes e.g. Infrastructure either in house or through strategic partnerships with other asset managers. Responsibility for valuation of ERMs and securitisations.

The role will lead collaboration with wider Group structuring functions to provide scalable service and administration of structuring vehicles and any other associated requirements.

The role will have direct responsibility for oversight of ongoing operational and commercial requirements of structured vehicles both internally and externally managed.

**Key Responsibilities**:
1) Strategic Asset Allocation
Support and facilitate asset allocation (i.e. Strategic Asset Allocation - SAA) and investment return assumptions for New Business Pricing through expanded use of appropriately structured illiquid credit. The availability of appropriately structured assets will be directly linked to the success of the UK and wider Group business plans.
Develop SAA optimisation processes, tools, and implementation capabilities.

2) Asset Structuring, sourcing and deployment
Ensure the right skill-set across the team, in particular deep quantitative expertise, relevant technical knowledge (mix of specialists and generalists), and real asset expertise.

Lead the build out core of capabilities to structure existing asset classes to better meet the needs of the UK and Group’s balance sheet businesses. Expand the use of illiquid credit by structuring new asset classes where we have core asset capabilities either in house or available through strategic partnerships.

Ensure vehicles are appropriately managed and administered, leveraging Group capabilities or existing/new commercial partnerships

3) 3rd party oversight and performance management
Responsible for the efficient onboarding of new assets and asset classes as well as oversight management of ongoing operational and commercial requirements of structured vehicles both internally and externally managed

4) Leadership and Talent Development:
Manage, develop, and motivate other members of the team in the achievement of their individual and business objectives. Provide direction, guidance and coaching to colleagues in the wider Actuarial and Finance team to develop skills and improve the quality of output from the area. Promote a strong performance culture and encourage a commercial mindset.

**Experience Required**:

- Proven experience of Strategic Asset sourcing, allocation and deployment
- Proven experience of control and process documentation, identification of risks and controls in a financial services environment.
- Extensive understanding of the UK regulatory environment
- Proven track record at delivering within tight deadlines.
- Proven ability to build sound and trusted relationships at all levels and successfully manage multiple stakeholders including external and internal audiences
- Demonstrates personal drive, energy, persistence and self-motivation and awareness of the needs of the wider business.
- Strong communication skills (able to communicate technical and complex issues both verbally and in writing to senior audiences including non-actuaries)
- Proven leadership skills - ability to manage and motivate a team of highly skilled and experienced individuals

Qualified Actuary

**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 compr



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