Associate Actuary, US Liability Modeling

4 weeks ago


Old Toronto, Canada Manulife Insurance Malaysia Full time
Associate Actuary, US Liability Modeling

Are you looking for opportunities to lead and succeed? This role is part of the U.S. Liability Modeling shared services area that supports quarterly production of reserves, financial reporting, assumption changes, ad-hoc requests, and quarterly inclusion control processes. It offers the chance to build relationships with stakeholders and engage in challenging work in a flexible and supportive environment.

The US Liability Modeling team develops and implements models following Corporate modeling standards in compliance with the Model Risk Policy. The team also produces and reviews model results to support quarterly reporting (IFRS and NAIC valuation), ad-hoc reporting, experience analysis, and in-force management activities.

The position provides opportunities to interact with management and colleagues in Valuation, Pricing, Experience Analytics, Group Finance Actuarial, Group Functions Technology, In-Force Management, Global Asset Modeling, and others.

This Life Modeling team oversees all valuation modeling initiatives for one of Manulife’s most material, high-complexity, and high-impact lines of business across a wide range of products (universal life, variable universal life, indexed universal life). The team collaborates across IT and Actuarial functions and influences important global modeling and valuation initiatives.

Position Responsibilities:

  • Work with actuaries across IFRS and NAIC Valuation, Modeling, Experience Analysis and In force Management departments to understand data or model change requests and help prioritize the most important and time-sensitive needs of the collective group of stakeholders.
  • Generate quarterly liability cash flows and reserves on all accounting bases, implement the model changes needed to support new products and basis changes, and create cash flows and reserves for additional financial reporting, including Embedded Value, LICAT, Annual Plan, and Annual Asset Adequacy Testing, while adhering to valuation model change management protocols.
  • Coordinate change management cycles for the end-to-end actuarial VST system with Group Finance Actuarial Systems Team (GFAST) and Global Actuarial Business Support (GABS) areas.
  • Mentor staff through effective delegation and management of their contributions to various projects.

Required Qualifications:

  • FSA / FCIA or near completion, with 5+ years of progressive work experience.
  • Results-oriented and problem-solving approach, with the ability to lead and prioritize projects for timely and successful delivery.
  • Proven coordination and communication skills (both verbal and written), with the ability to communicate sophisticated actuarial concepts clearly and concisely.

Preferred Qualifications:

  • Energetic personality with a positive, can-do attitude.
  • Demonstrates flexibility and adaptability in a dynamic work environment.
  • Ability to communicate effectively with actuaries and IT professionals.
  • Strong analytical and problem-solving skills.
  • Strong desire to improve processes.
  • Experience with AXIS (or similar actuarial modeling software) is preferred.
  • Knowledge of US products and history of financial reporting an asset.
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