Overview

Our client in Waterloo Region is looking for a Senior Actuary to join their team in a full-time permanent role!

The role of the Senior Actuary will be to provide technical assistance and recommendations for areas such as valuation of policyholder liabilities for financial statement purposes, financial modelling, asset/liability management, reinsurance, financial product development and pricing, policyholder taxation, actuarial assumptions and dividend scales, and enterprise risk management to develop and execute technical and administrative programs that contribute to organization operational objectives.

Job Responsibilities:

  • Recommend actuarial valuation assumptions, and ensure that actuarial liabilities are calculated accordingly.
  • Monitor potential changes to standards and accounting practices, understanding the potential impact of changes on company business, and implement appropriate processes and procedures in order to comply with legislation and to minimize organization and member impact.
  • Provide actuarial expertise in developing product pricing assumptions and assistance in design for new and revised products.
  • Implement enterprise risk management controls and monitor various business risks, both internal and external to the organization. Provide regular reports to the Chief Risk Officer.
  • Develop processes and procedures required to carry out the actuarial aspects of financial reporting including determination of reserves, asset liability matching, and financial forecasting.
  • Ensure that capital requirement calculations are in compliance with regulatory guidelines.
  • Analyze the appropriateness of dividend scales and prepare recommendations to the Appointed Actuary for adjustments to incorporate ongoing experience.
  • Ensure that administrative procedures and systems comply with policyholder tax legislation requirements. Research the impact of changes in such legislation on company business.  Provide actuarial expertise in developing and testing processes to comply with any such changes.
  • Monitor accuracy of reinsurance administration practices, processes and systems. Implement change processes to reinsurance systems as warranted.
  • Oversee the generation of experience studies on expenses, lapses, mortality and asset defaults. Use the results of these studies to recommend valuation assumptions, as well as to develop dynamic capital adequacy testing scenarios.
  • Preparation of required actuarial reports such as Appointed Actuary’s Report, DCAT (Dynamic Capital Adequacy Testing), LICAT (Life Insurance Capital Adequacy Testing) and ORSA (Own Risk Self-Assessment).
  • Ensure the integrity of various actuarial computer systems.
  • Other duties as assigned.

PROFESSIONAL QUALIFICATIONS:

  • Minimum 10 years’ actuarial experience in Life Insurance
  • University degree in actuarial mathematics or a related field
  • Attainment of Fellow of the Society of Actuaries (FSA) and/or Fellow of the Canadian Institute of Actuaries (FCIA) designations
  • In-depth knowledge of the Canadian legislative and regulatory environment, including policyholder tax legislation, Canadian GAAP / IFRS, Actuarial Standards of Practice and OSFI guidelines
  • In-depth knowledge of individual life insurance and annuity products
  • Fully conversant and experienced in using AXIS for pricing, valuation and financial projections
  • Knowledgeable and experienced using the TAI reinsurance administration system
  • Persuasive written and verbal communication ability
  • High level of personal integrity and self-accountability

Do you have the skills and experience listed above? THEN THIS ROLE IS FOR YOU!

Excellent compensation and benefits package based on experience!

Send your resume and cover letter TODAY to: jayne@grandriverpersonnel.ca

Please state your salary expectations in your email with your cover letter and resume attached.

INDGRP123

Tagged as: Actuarial Analysis, actuarial science, Actuary, FSA, Life Insurance, risk management, valuations