Canada Life Reinsurance ("CL Re") is a division of Great-West Lifeco Inc. ("Lifeco") and a leading provider of client-focused reinsurance solutions in the United States, Europe, and the APAC region. CL Re offers a range of innovative risk and capital management solutions covering investment, mortality, longevity, lapse risk, and asset-intensive reinsurance. The Asset Intensive Reinsurance business is a key growth priority, with significant transactions in the UK and Japan over recent years.
The CL Re Investment Office is part of Lifeco Global Investments and manages assets of C$15bn. We plan to grow these assets further, requiring enhanced investment capabilities. The role will be central to implementing and managing investment strategies for new asset-intensive reinsurance transactions, involving coordination with stakeholders across Finance, Actuarial, Risk, Reinsurance Collateral Operations, and external investment managers.
The Role:
With expertise in residential mortgages and ABS investments, this role will oversee all mortgage investing activities. Currently managing a portfolio of approximately C$675m in whole loans, including Lifetime / Equity Release mortgages, the Head of Mortgage Investments will oversee this portfolio and explore value addition through securitisation or structuring to use whole loans as collateral in reinsurance transactions.
The role involves sourcing new origination partners globally, conducting due diligence, overseeing valuations, and establishing new origination agreements with mortgage originators to facilitate whole loan investments. The candidate will become an expert on residential mortgages, ABS, and securitisation strategies under LICAT, helping to develop this asset class to achieve competitive pricing in reinsurance transactions.
There will be opportunities to leverage existing mortgage expertise across Canadian, US, European, and UK portfolios, and to gain exposure to a broad range of investments, including risk management, performance analysis, reporting, and infrastructure development. The environment is fast-paced and flexible, with hybrid working options, ideally based in London.
What you'll do:
* Support new business pricing with mortgage and ABS assumptions.
* Source new residential mortgage opportunities by working with originators and investment partners.
* Design and implement capital-efficient origination strategies under LICAT.
* Negotiate investment guidelines and treaty terms to manage mortgage assets effectively.
* Manage transaction implementation and portfolio monitoring.
* Develop reporting frameworks and performance monitoring processes for mortgage investments.
* Act as first-line risk manager for mortgage-related investments.
* Support the Asset Intensive team’s growth in global reinsurance markets over the next 3-5 years.
What you'll bring to the role:
* Extensive experience in mortgage and ABS investing within a life reinsurer, PRT insurer, investment manager, or bank.
* Experience with collateralised reinsurance and various investment solutions.
* Strong knowledge of mortgage products, risks, securitisation, and related markets, including US and UK markets.
* Quantitative skills and ability to support ALM and hedging strategies.
* Highly organized, numerate, and problem-solving oriented.
* CFA qualification and/or degree in Finance or a related field, with relevant experience.
* Strong communication, influencing, and collaboration skills.
Benefits of working at Canada Life
We offer a competitive salary, pension, bonus scheme, income protection, private medical insurance, life assurance, and opportunities for personal and professional development.
How we work at Canada Life
Our culture emphasizes doing the right thing, curiosity, ownership, collaboration, and continuous improvement. We invest in our people, technology, and workplaces, offering flexible working arrangements.
Diversity and inclusion
We are committed to building an inclusive, diverse workplace where everyone feels they belong. We value different backgrounds and perspectives and support flexible working to accommodate various needs.
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