Actuarial Pricing Manager

2 months ago

Toronto, Ontario, Canada TD Bank Group Full time
Work Location:
Toronto, Ontario, Canada

Hours:
35

Line of Business:
Data & Analytics

Pay Details:

We're committed to providing fair and equitable compensation to all our colleagues. As a candidate, we encourage you to have an open dialogue with a member of our HR Team and ask compensation related questions, including pay details for this role.

Job Description:

Department Overview

TD Insurance is part of TD Bank Group, one of Canada's largest financial institutions. TD Insurance helps protect clients from the 'accidents of life' with a wide range of products including credit protection, life, health, travel, home and auto insurance. With more than three million clients, TD Insurance authorized products and services are available online, over the phone, and through a network of more than 1,000 TD Canada Trust branches.

In Canada, we have two lines of business, General Insurance and Life and Health. Our General Insurance business is one of the top home and auto insurance groups in Canada and the national leader in group insurance and affinity marketing. Our Life and Health business is the number one provider of critical illness insurance and direct life and health insurance in Canada.

At TD Insurance, we are committed to fostering an inclusive, accessible environment. With a Canada-wide workforce of over 4,000 employees and offices in Atlantic Canada, Quebec, Ontario and Alberta, our company is always growing and can help you to grow. TD Insurance offers a stable and dynamic work environment where talent is appreciated and professional development is taken seriously. More than just a job, we offer rewarding careers.

Position Overview

The Manager Pricing has to develop and obtain regulatory approvals and implement pricing strategies for all products and markets of TD Insurance - General Insurance in Canada. Another key responsibility is to build for the future by making sure to hire, retain and develop highly skilled professionals.

Responsibilities:
  • Play a key role in establishing pricing objectives for each market and product as part of planning process.
  • Develop price optimization strategies to attract and retain profitable customers, in order to accelerate profitable growth of TD Insurance
  • Supervise analyses performed by team to forecast claims and competitive trends for the annual budget for each market and product
  • Support the presentation of pricing objectives to various stakeholders and committees as part of the internal approval process.
  • Support the development of strategies to accelerate profitable growth of TD Insurance and that will create a competitive advantage for TDI
  • Develop price optimization strategies to attract and retain profitable customers, in order to accelerate profitable growth of TD Insurance
  • Supervise initiatives to improve our customer segmentation in order to reach TD Insurance objectives, taking into consideration competitive and regulatory constraints
  • Supervise development of models for evaluation and measurement of customers' price elasticity and behaviors
  • Prepare required documents by rating boards for pricing changes according to mandated standards
  • Participate in the presentation of proposed changes to rating boards before review and answer questions from rating boards during the review
  • Support negotiations with rating boards to obtain approvals in order to achieve planned profit and growth.
  • Implement best practices, risk mitigation, risk controls as well as process, policy and procedures for the actuarial function. Ensure maintenance of controls, policies and procedures.
  • Lead implementation of approved price change;
    • Team is responsible to work with information technology and quality assurance teams for implementation of all approved price changes;
    • Ensure appropriate measures are in place to secure pricing accuracy of all policies sold (compliance and reputational risks).
  • Support communication of price changes;
    • Client Service Center: Explain new strategy to regional management team and present to insurance advisors.
    • Communication to clients: Support the client communication team in developing appropriate messaging to our clients following rate changes.
  • Develop and maintain Risk Sharing Pools cession strategies;
  • Build for the future
    • Support recruiting strategy to hire best potential;
    • Develop talent of highly skilled team members;
    • Act as a coach and mentor for team members;
    • Provide development opportunities internally and externally;
    • Support the strategy of exporting actuaries in other departments.
  • Responsible for managing a team of people
    • Responsible for on-time delivery of projects;
    • Provide constructive and timely feedback;
    • Responsible for performance evaluation of all team members.
Job Requirements
  • 7 years of experience in an Actuarial function (Property & Casualty)
  • Associate of the Casualty Actuarial Society
  • Previous leadership (with direct reports)
  • Bachelor Degree in Actuarial Science
  • Experience with Predictive Modeling is an asset
  • Excellent Communication Skills
Who We Are:

TD is one of the world's leading global financial institutions and is the fifth largest bank in North America by branches/stores. Every day, we deliver legendary customer experiences to over 27 million households and businesses in Canada, the United States and around the world. More than 95,000 TD colleagues bring their skills, talent, and creativity to the Bank, those we serve, and the economies we support. We are guided by our vision to Be the Better Bank and our purpose to enrich the lives of our customers, communities and colleagues.

TD is deeply committed to being a leader in customer experience, that is why we believe that all colleagues, no matter where they work, are customer facing. As we build our business and deliver on our strategy, we are innovating to enhance the customer experience and build capabilities to shape the future of banking. Whether you've got years of banking experience or are just starting your career in financial services, we can help you realize your potential. Through regular leadership and development conversations to mentorship and training programs, we're here to support you towards your goals. As an organization, we keep growing - and so will you.

Our Total Rewards Package
Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical, and mental well-being goals. Total Rewards at TD includes a base salary, variable compensation, and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off, banking benefits and discounts, career development, and reward and recognition programs. Learn more

Additional Information:
We're delighted that you're considering building a career with TD. Through regular development conversations, training programs, and a competitive benefits plan, we're committed to providing the support our colleagues need to thrive both at work and at home.

Please be advised that this job opportunity is subject to provincial regulation for employment purposes. It is imperative to acknowledge that each province or territory within the jurisdiction of Canada may have its own set of regulations, requirements.

Colleague Development
If you're interested in a specific career path or are looking to build certain skills, we want to help you succeed. You'll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities. Whether you have a passion for helping customers and want to expand your experience, or you want to coach and inspire your colleagues, there are many different career paths within our organization at TD - and we're committed to helping you identify opportunities that support your goals.

Training & Onboarding
We will provide training and onboarding sessions to ensure that you've got everything you need to succeed in your new role.

Interview Process
We'll reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.

Accommodation
Your accessibility is important to us. Please let us know if you'd like accommodations (including accessible meeting rooms, captioning for virtual interviews, etc.) to help us remove barriers so that you can participate throughout the interview process.

We look forward to hearing from you

Language Requirement:
Maîtrise d'une langue autre que le français pour offrir du soutien ou traiter avec des employés ou des collègues qui ont besoin de services et de soutien dans une langue autre que le français./ This position requires proficiency in a language other than French to support or deal with employees or colleagues who require services and support in a language other than French.

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