Director, Reserving

2 days ago

Toronto, Ontario, Canada Definity Financial Full time
Director, Reserving Job Description

Responsible for overseeing timely and accurate completion of analyses associated with reserving, segment reviews/analyses, and financial reporting, including processes related to monthly/quarterly financial reporting and regulatory reporting.

The Director, Reserving plays a key role in the design and development of changes to assist in maturing reserving processes. This role interacts with and provides assistance to the Strategic Risk, Planning and Special projects teams within Corporate Actuarial. The primary focus is on Personal Insurance and acts as a primary contact for Personal Insurance related reserving issues with other business support departments, auditors, and external consultants.

Key responsibilities include:

  • Providing direction for Corporate Actuarial reserving team to align with the strategic and business needs of the company by aligning processes and analyses to support Public Company Reporting requirements, Mergers/Acquisitions and corporate restructuring activities.
  • Overseeing actuarial processes related to loss reserving and internal/external financial reporting, including data collection and regulatory/rating agency reporting as relates to Personal Insurance.
  • Communicating analysis results to senior management teams including Finance, Personal Insurance and Claims as appropriate.
  • Recommending and implementing enhancements to the reserving and projection process to improve process efficiencies and model parameterization.
  • Ensuring that all analyses, reports and documentation are compliant with internal company policies, regulatory requirements and professional standards of practice.
  • Providing leadership and guidance, technical instruction and ongoing feedback to direct reports regarding performance, productivity, work quality, personal conduct and adherence to corporate policies and procedures.
  • Hiring, developing and retaining skilled staff.

Requirements include:

  • University degree in Actuarial Sciences or a relevant discipline.
  • Fellow of the Casualty Actuarial Society or Fellow of an international actuarial organization equivalently recognized by the Casualty Actuarial Society.
  • Fellow of the Canadian Institute of Actuaries, or eligible to become such.
  • At least 6 years of relevant reserving experience.
  • Strong leadership, communication and project management skills.
  • Able to perform well in a busy operation and remain calm under pressure.
  • Team player, adaptable to a changing and fast-paced environment.

Definity is a leading property and casualty insurer in Canada, offering a flexible, hybrid work experience where employees work from the office and virtually depending on the type of work they are doing and who they are working with. We value diversity and inclusion, and offer a range of benefits and programs to support our employees' well-being and career development.

Benefits include:

  • Hybrid work schedule for most roles.
  • Company share ownership program.
  • Pension and savings programs, with company-matched RRSP contributions.
  • Paid volunteer days and company matching on charitable donations.
  • Educational resources, tuition assistance, and paid time off to study for exams.
  • Focus on inclusion with employee groups, support for gender affirmation surgery, access to BIPOC counsellors, access to programs for working parents.
  • Wellness and recognition programs.
  • Discounts on products and services.

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