Sr. Actuarial Analyst

Join to apply for the Sr. Actuarial Analyst [P3] role at HOOPP (Healthcare of Ontario Pension Plan) Get AI-powered advice on this job and more exclusive features. high-performance, people-focused culture our commitment that equity, diversity, and inclusion are fundamental to our work environment and business success, which helps employees feel valued and empowered to be their authentic selves learning and development initiatives, including workshops, Speaker Series events and access to LinkedIn Learning, that support employees’ career growth membership in HOOPP’s world class defined benefit pension plan, which can serve as an important part of your retirement security competitive, 100% company-paid extended health and dental benefits for permanent employees, including coverage supporting our team's diversity and mental health (e.g., gender affirmation, fertility and drug treatment, psychological support benefits of $2,500 per year, parental leave top-up, and a health spending account). optional post-retirement health and dental benefits subsidized at 50% yoga classes, meditation workshops, nutritional consultations, and wellness seminars the opportunity to make a difference and help take care of those who care for us, by providing a financially secure retirement for Ontario healthcare workers Job Summary The Sr. Actuarial Analyst is a key member of Plan Operations. Supporting the mandate of the Plan Benefits, Design & Policy and Pension Actuarial & Analytics areas, the Sr. Actuarial Analyst role requires technical and professional expertise to perform an in‑house review of technical actuarial and calculation questions. The incumbent will manage all manual calculations by applying the use of the Plan Text and internal policies along with being responsible for maintaining or questioning data and calculation accuracy. The role also requires technical expertise to perform in‑house actuarial functions, experience analysis and demographic modelling in support of the valuation of Plan obligations, negotiations with other pension plans, and the review of Plan design. They may also liaison with outside vendors on various projects and serve as back‑up and/or manage certain projects on behalf of the Pension Actuarial & Analytics area. From time to time the role will require communication, training, integration and coordination with other areas of Plan Operations as well as other divisions within HOOPP such as IT Pension Solutions Group, Finance and Internal Audit. The Sr. Actuarial Analyst may also provide technical calculation support and training to HOOPP staff as required in helping to promote an understanding of the calculations and business requirements of the Plan Text and internal policies. What You Will Do Recommending enhancements to calculation standards and procedures for all core calculation systems and off‑system tools Preparation of internally produced actuarial materials for internal meetings Primary subject matter expert for pensions and administrative actuarial concepts to other areas of Plan Operations Working with the internal HOOPP audit group as required Primary calculation and actuarial resource for internal team training and onboarding Set up in‑house actuarial functions for other team members to review calculations and any corresponding information required to be managed through the business process Influence other areas of Plan Operations for ongoing operations and also for special projects Accountable for maintenance / development / audit of all actuarial tools and processes for purposes of on and off‑system calculations. Provide subject matter calculation expertise to Plan Operations. Consult with all teams as applicable. Manage reviews of calculation methodologies to ensure overall accuracy and quality Lead audit reviews of production validations of Ariel DB, actuarial factors, and controls (QAMs) to ensure the accuracy of benefit calculations and that all known errors are corrected as identified with HOOPP standards including preparation of statistics reports summarizing and analysing findings Provide recommendations for errors and corrections (in accordance with applicable correction policies) Participation and/or leading engagements with external vendors as necessary to audit administration system Recommend improvements to methodologies as applicable including communications with vendors as needed Lead data analysis to identify quality issues Influence requirements for data validations Subject matter expert / resource for information and requirements on how data is stored in Insight/Ariel DB/Ariel Payroll Collaborate with others within Plan Operations to assess operational risk related to data Accountable actuarial resource for special projects, including preparation of business specifications and coordination relating to special projects such as benefit improvement, mergers, data health assessments, demographic studies, new member engagement tools, etc. Maintain and build strategic peer relationships with departments across Plan Operations, acting as a resource to HOOPP staff for technical calculation matters, including interpretation of actuarial calculations and factors used, quality reviews, administration system calculation engine, and hoopp.com calculation engines. Develop and maintain documentation for off‑system calculations and other actuarial services projects, including documenting file storage and any necessary off‑system calculation business procedure documents. Develop and maintain a data base for all actuarial assumptions and analysis or procedures to determine assumptions and develop and maintain with the assistance of Plan Operations Training area content for all assumptions (actuarial and administrative) on iKnow. Perform various other duties, such as keeping VP Pension Actuarial & Analytics appraised of issues/problems relating to tasks/projects as required, preparing information for weekly status updates and providing ongoing training and mentoring of staff in relation to off‑system calculations. Apply deep calculation knowledge and expertise to provide guidance, direction, and support to team. Provide management to team by mentoring, coaching, development, and providing direction. Responsible for managing work for contract employees and seasonal staff / co‑op students as appropriate. Collaborate with other divisions of the organization, including executive management to provide direction, advice, and recommendations for improvements / resolution on Plan provisions and administrative policy that fall outside set policies and procedures, and on difficult, unusual, or precedent‑setting cases. Use actuarial tools and processes for purposes of preparing membership data for the actuarial valuation and Plan design purposes, trending analysis and an overall data integrity framework. Maintain current industry knowledge through topical literature, seminars & conferences, and ongoing information exchanges with staff, Plan advisors, industry professional, regulators/legislators, and other pension plans. What You Bring University or higher degree in actuarial science, math, or statistics. The employee has actively participated in writing actuarial examinations with the intention of pursuing Associate (ACIA) or Fellow (FCIA) designation from the Canadian Institute of Actuaries. Seven to ten years progressive experience in the pension industry with at least three to five years at an Analyst level, preferably within HOOPP. Sound knowledge of pension plan administration and governing legislation and regulations including HOOPP plan text and policies (historical and current), Pension Benefits Act, Income Tax Act, Family Law Act, Employment Standards Act and other general pension principles. Proven ability to grasp extremely complex plan formula concepts. Demonstrated expertise in pension analysis is necessary. Proven communications skills (both written and oral), including the ability to explain extremely technical and extraordinarily complex mathematical concepts in lay terms and the ability to prepare examples for internal or Plan Committee reports. As part of a small team, demonstrated ability to deal with a multiplicity of tasks, set priorities and manage timelines/budgets with minimal or no supervision. Strong project management, sound judgement; thorough and logical. Ability to build, maintain and update spreadsheet calculations/tools is imperative for this role. Development of standards, documentation, and procedures for all off‑system calculations, including develop simplified processes for calculations, subject to legislative compliance. Provide a recommended solution for escalated cases; share information with team members and other Analysts regarding issues encountered when dealing with complex issues. Excellent mathematical, analytical and critical thinking skills. Collaborator with good interpersonal, oral, and written communication. Excellent organizational and people skills and high degree of independence and initiative. Strong analytical and technical data mining skills. Effective verbal and report writing communication skills. Ability to collaborate effectively with multiple stakeholders and influence without direct authority. Collaborate with senior leaders in Plan Operations to establish training plans and material. Build effective relationships with other areas of HOOPP. Seniority level Mid‑Senior level Employment type Full‑time Job function Finance and Sales #J-18808-Ljbffr