Senior Manager, Actuarial Services

5 days ago

Toronto, Ontario, Canada Financial Services Regulatory Authority of Ontario Full time
Job Title: Manager, Auto Actuarial Services

At FSRA, our vision is to ensure financial safety, fairness, and choice for Ontarians. As a financial services regulator, we're passionate about protecting consumers. Our principles-based approach means we can quickly and effectively respond to the changing needs of consumers and the industry.

About FSRA

FSRA is a financial services regulator that is committed to ensuring equity in employment. Our goal is to create a diverse, inclusive workforce that reflects the communities we serve and to ensure our services and communications are accessible to all individuals.

Job Description

The Manager, Auto Actuarial Services will be responsible for managing the Auto Actuarial Services Team in support of overall Auto/Insurance Products plans and priorities. This role will require a strong understanding of actuarial principles, standards, ratemaking, reserving methodologies, and automobile insurance governance.

Key Responsibilities:
  • Manage the Actuarial Services team to ensure consistency with overall Auto Insurance Supervision objectives and alignment with FSRA direction for regulating and supervising auto insurance industry rates, underwriting and products.
  • Support FSRA leadership in formulating strategy, developing tactics, and executing programs and services, while promoting innovation and continuous improvement.
  • Plan and manage Actuarial Services priorities, ensuring alignment with Auto Insurance Supervision performance measures, standards, and best practices.
  • Lead the costing analysis and benchmarking process for government-led auto insurance product reforms.
  • Support the Auto Insurance Supervision's strategy for reforming auto insurance rating and underwriting regulations.
  • Maintain and enhance the actuarial review process for rate filing applications.
  • Oversee the process, deliverables, and budget for external consultants and consulting contracts related to auto insurance supervision.
  • Manage and process the actuarial review of rate filing applications.
  • Oversee the review of predictive models used in auto insurance rate filings.
  • Collaborate with the management team on operational planning, performance metrics, and program effectiveness.
  • Build a robust actuarial team by overseeing hiring, orientation, training, coaching, performance standards, reviews, and management.
Qualifications:
  • Degree in actuarial science.
  • Fellow of the Casualty Actuarial Society (FCAS) and Fellow of the Canadian Institute of Actuaries (FCIA).
  • 6 to 8 years of experience in planning, managing, and delivering actuarial services within a large organization, including significant experience in auto insurance pricing or related areas.
  • Auto Insurance Pricing experience strongly preferred.
Knowledge and Skills:
  • Change Leadership: Ability to lead and manage change effectively within an organization.
  • Team Leadership: Experience in leading diverse teams across various roles, levels, and experience.
  • Matrix Management: Proficiency in working within a matrix structure, including expert collaboration and judicious use of escalation.
  • Actuarial Expertise: In-depth knowledge of actuarial principles, standards, ratemaking, reserving methodologies, and automobile insurance governance.
  • Statistical and Actuarial Skills: Expertise in actuarial and statistical principles and methods, particularly related to auto and property casualty insurance products.
Employment Type:

Regular

Scheduled Weekly Hours:

36.25

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