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.

Purpose of the role:

This is a Senior role within the Financial Performance, Europe team responsible for driving a cost conscious, commercially minded culture and ensuring that the ‘story’ of the Europe expense base, earnings profile and business plans are clearly and accurately articulated and are fully aligned to the Europe Strategy and business priorities.

The role holder will lead the operation of robust budgeting, forecasting, expense management within CLG / Europe-level business activity and business planning processes in accordance with principles set by the Lifeco parent company and processes / milestones agreed with the Senior Manager / Reporting & Operations. It provides complete, accurate and timely strategic insight on expenses, earnings drivers and business plan delivery at a consolidated Europe-level to support effective decision making by the European Leadership Team (ELT), senior leadership and Lifeco.

What you'll do:

Insight, reporting, quarter end and plan tracking
• Provide high quality expense and earnings insights and reporting throughout the year to the Europe CFO and Financial Performance Director, Europe, explaining cost drivers, earnings drivers, risks, trends and variances versus prior quarter, prior year, and business plan.
• At quarter end, own the aggregated Europe level earnings and expense narrative and provide integrated analysis and commentary versus budget, prior quarter and prior year. In doing so, articulate the impact on key business metrics, such as Base Earnings, Expense Efficiency Ratio, Return on Equity, etc.
• Translate financial results and forecast updates into clear insight on business plan achievability, highlighting gaps to plan and proposing corrective actions.

Processes, systems, MI and planning frameworks
• In conjunction with the Senior Manager - Reporting & Planning, develop and maintain Europe-level planning frameworks, templates and guidance that link strategy, business plans, expenses and earnings outcomes.
• Work with the Senior Manager - Reporting & Planning to ensure the consistent understanding and operation (in Europe’s markets) of robust budgeting, forecasting, business planning and MI processes, systems and controls for expenses and earnings as part of the business control cycle.
• Oversee the production and presentation of standard MI on the aggregated Europe-level expense base (run and change), earnings drivers and business plan metrics, ensuring data is accurate, insightful and timely.
• Lead the production of Finance owned slides and information for key governance and reporting forums (e.g. ELT, CLG Board), clearly articulating expense, earnings and business plan implications.

Expense, earnings and business plan management
• Oversees the preparation of the annual operating expense budget for CLG (the Europe level legal entity), ensuring it coherently supports the multi year business plan and earnings targets.
• Reviews and challenges the preparation and consolidation of market level plans into a coherent Europe level business plan, ensuring expense and earnings assumptions are realistic, consistent and aligned to strategy.
• Oversee in year tracking and review / challenge of actual expenses (run and change) and earnings against budget and business plan, including variance analysis and forward looking opex, expense and earnings forecasts.
• Ensure the construct, maintenance and use of balance sheet provisions to fund strategic initiatives are appropriate, controlled and aligned with business policy, strategy, earnings objectives and business plan commitments. .

Business cases, efficiency and plan alignment
• Oversee an accountant in their review and challenge of Europe level business cases and funding requests to ensure alignment with the business segment’s strategy, financial plans, business plan commitments, expense targets and earnings ambitions.
• Where proportionate, work with Executive and Operational Sponsors and steering groups to validate and, where necessary, challenge budget, forecast, benefit realisation and earnings impact assumptions so that expense, benefit and business plan targets are met.
• Lead ad hoc reviews and projects to identify cost savings, efficiency opportunities and options to improve the commercial performance of the expense base, earnings and delivery of the business plan.

Stakeholder management and collaboration
• Build and maintain strong relationships with Europe leaders, i.e. Change, CFO, Financial Performance Director, Senior Manager / Operations & Reporting, Risk, and market (UK, Ireland, and Germany) leadership and FP&A teams, ensuring a joined up view of expenses, earnings and business plans.
• Work with these stakeholders to set, challenge and validate expense, earnings and business plan targets, management actions and allocations, ensuring in year and multi year budgets and forecasts remain aligned to the Business Plan, strategic priorities and external guidance.
• Collaborate with actuarial and finance stakeholders to input into periodic cost allocation methodology reviews which, in turn,influence liabilities, earnings and business plan assumptions.

Data, governance, risk and reporting obligations
• Collaborating with the Senior manager, Reporting & Planning, oversee the development and maintenance of the Europe datastore and support the deployment of technologies (e.g. AI) to enhance the insights and analytics suite.
• Produce and submit sufficient and relevant expense, earnings and business plan commentary to support statutory, market and management reporting at a Europe level, ensuring users understand the meaning and context of the information.
• Ensure familiarity with and adherence to risk management programmes and processes, and compliance with company policies, regulatory, professional and legal requirements across expense, earnings and planning activities.

Leadership and people management
• Lead and develop a small but high-performing team of accountants and financial analysts to support a cost and earnings focus, and commercial mindset across the

Europe business and its markets.
• Provide constructive feedback, coaching and development opportunities to team members and stakeholders (as part of the Europe ‘FP&A community’), building capability in business planning, expense and earnings analysis, and strategic insight

What you'll bring to the role:

Technical Expertise
• Qualified Accountant with extensive and wide-ranging experience of European financial services (ideally in the insurance industry)
• Demonstrable track record of operating in a Finance oversight role in a financial services organisation
• Strategic understanding in a European financial services context (ideally in the insurance industry)
• Experience in or of working with investor relations would be advantageous.
• Excellent quantitative business analytical skills
• Strong financial and risk management skills

Communication
• Excellent communication skills – able to address technical and non-technical audiences in formal and informal settings

Relationship Building
• Experience of building and leveraging internal / company and external network
• Strong ability to collaborate with experts and interested parties from across the business to influence, obtain input and buy-in
• Excellent stakeholder management skills at all levels up to and including C-Suite

Taking Initiative
• Proactively identifies and manages risks

Developing Self and Others
• Strong leadership and team development skills
• Ability to provide constructive feedback and share opinions to line manager, team members, and other colleagues in a timely and constructive manner

Qualifications (For the job and not the person)
FCA / ACA / CIMA or equivalent

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.

Senior Manager - Partnering & Insights, Europe

Benefits

Job Description