AVP, Corporate Actuarial
2 weeks ago
Department: Corp Actuarial Services
Employment Type: Regular Full-Time
Work Model: Hybrid
Language: English is required, French is an asset.
The Opportunity:
We are a leading Canadian financial services co-operative committed to being a catalyst for a sustainable and resilient society and our team is essential to deliver on this strategy. That's why we prioritize our people, to ensure we provide a strong culture and development opportunities which enables our team to thrive and to live our purpose. The best part is that you will work with people that care passionately about you, our clients, and our communities.
The Associate Vice President (AVP) of Corporate Actuarial (Valuation and Reinsurance), reporting directly to the VP, Corporate Actuarial Services, is an integral leader within our enterprise Finance Team. They deliver excellence for the valuation and monitoring of policy liabilities for our group of Property and Casualty (P&C) companies. As well, the AVP, Corporate Actuarial leverages their enthusiasm and drive for actuarial excellence to contribute directly and motivationally empower skilled teams for the successful delivery of data analysis and modeling used to support reinsurance decisions for our P&C companies and the case reserve setting process for Co-operators General Insurance Company and CUMIS General Insurance Company.
How you will create impact:
- Provide oversight and directly contribute to month-end, quarter-end, and year-end policy liability analyses and prepare Appointed Actuary Reports. Ensuring that the valuations are carried out in accordance with complex internal and external standards.
- Communicate with external auditors related to valuation matters, and prepare reports required for individual company Boards, regulators, auditors and rating agencies.
- Contribute to the analysis and impact assessment of regulatory changes on policy liabilities.
- Offer guidance to the Finance department regarding the preparation of financial statements and the allocation of IBNR, and operate as a key member of the Asset Liability Management Committee
- In collaboration with Business Intelligence, provide leadership guidance to develop, monitor, and maintain models supporting industry-forward automated case reserve setting processes in compliance with established process governance.
- Clearly inform and support stakeholders to understand the outcomes and impacts of models supporting the case reserve setting processes for Co-operators General Insurance Company and CUMIS General Insurance Company. Including consulting on proposed changes to National Claims related to reserve strategy.
- Provide recommendations on reinsurance cost allocations by company and product line.
- Oversee the data analysis, modeling, and quality of databases that contribute to the economically efficient treaty reinsurance retentions and reinsurance programs.
- Establish and cultivate connections with the management and staff members throughout the group of companies.
- Leading and engaging your team to deliver strategic objectives through effective coaching and mentoring, identifying and developing emerging talent, and fostering an innovative, collaborative, and agile culture.
- You initiate new strategies to capitalize on opportunities and lead the implementation of organizational change.
- You facilitate strategic prioritization, developing systems and processes to prioritize and achieve business outcomes while removing roadblocks.
- You integrate complex information to identify solutions or solve problems and apply a strategic mindset to adjust business plans.
- You foster innovation and continuous improvement with a focus on client experience.
- You create a high-performance culture through alignment of your team's work with organizational goals and successfully convey messages with a sense of positive advocacy.
- You develop others to ensure the evolving needs of the organization will be met and build effective relationships to achieve key business objectives.
- You have 10 years+ of progressive related experience, including experience in P&C actuarial valuations and reinsurance. Having experience in P&C capital modeling and P&C pricing an asset.
- You have completed a degree in Actuarial Science, Mathematics or equivalent.
- You hold or are pursuing with a willingness to complete the Fellow of the Canadian Institute of Actuaries (FCIA) designation. Completion of the Fellow of the Casualty Actuarial Society (FCAS) designation is an asset.
- You possess related technical skills, including actuarial modeling and valuation techniques and familiarity with technology to perform work. Understanding automated processes is an asset.
- You are knowledgeable of Canadian P&C insurance reserving practices, factors that impact the insurance business, and P&C insurance products.
- You are well-skilled in building trusted stakeholder relationships and communicating complex information with clarity and candor.
- You are an experienced people leader, well-skilled in empowering actuarial teams to successfully deliver on business objectives.
- You will be subject to a Background check as a condition of employment, in the event you are the successful candidate.
- You will travel occasionally.
- As a leader, strict confidentiality is required with respect to sensitive matters and employees' personal information.
- This position primarily works with majority non-francophone groups, and teams located outside of Québec, and requires proficiency in English. The essential non-French duties are not assignable to adjacent or other team members.
- Training and development opportunities to grow your career.
- Flexible work options and paid time off to support your personal and family needs.
- A holistic approach to your well-being, with physical and mental health programs and a supportive workplace culture.
- Paid volunteer days to give back to your community.
- In addition to our competitive salary and incentive programs, eligible employees also benefit from a comprehensive total rewards package including group retirement savings plans, pension and benefits (e.g., health and wellness, dental, disability and life coverage), mental health support and an employee assistance program.
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