Chief Actuary

AG Executive Search

has been retained by the

Canadian Medical Protective Association (CMPA)

to recruit its next Chief Actuary. The role can be based in Ottawa or held remotely within Ontario or Quebec with travel to Ottawa as required.

About the Client: As an integral part of the multifaceted Canadian healthcare system, CMPA supports physicians, patients, and the healthcare system in numerous ways. The CMPA assists physicians with medico-legal issues, enhances patient safety, and compensates patients harmed by negligent care (fault in Québec).

Position overview: The Financial Services group supports the CMPA's mission and goals by safeguarding the Association's assets and by ensuring the proper valuation of the Association's liabilities. Safeguarding the Association's assets is accomplished through accurate and timely recording and stewardship of financial transactions. Proper valuation of the Association's liabilities is accomplished through detailed actuarial work following the Standards of Practice set by the Canadian Institute of Actuaries. The Actuarial Services department is primarily responsible for the CMPA's liability valuation and protection fee projection. The team develops proprietary applications and data structures, builds actuarial models and processes, supports financial auditing, and provides insight for the Association's funding and liability management.

The Chief Actuary serves as the Association's Appointed Actuary and leads the design, planning, implementation, and reporting of predictive models that support fee setting, funding assessments, trend forecasting, and asset-liability analysis. This role includes completing the valuation of actuarial liabilities in accordance with Canadian Institute of Actuaries standards, and in support of the Association's financial statements.

As the primary actuarial liaison, the Chief Actuary engages with external peer reviewers and auditors, integrating their input as appropriate. The incumbent advises senior management and Council on actuarial matters including liability valuations, fees, funding, and trends, and represents the Association in stakeholder discussions on these topics.

The Chief Actuary ensures robust internal controls related to actuarial valuations and applies mathematical, statistical, and actuarial models to analyze demographic, clinical, financial, and economic data to predict and assess patient, member, and CMPA risks associated with the conduct of the physician.

Additionally, the Chief Actuary supports the Finance and Investment departments in forecasting cash flows and expenditure trends and contributes to asset-liability modelling to inform Investment Committee asset mix decisions.

Responsibilities: Strategic and Operational Planning

Consults with the CFO to discuss and explore new initiatives, programs, and improvements at the department, group, or organizational level

Establishes multi-year operational plans and budgets for the department based on the CMPA's strategic plan, Executive Leadership Team (ELT) directives, and corporate objectives

Prepares, monitors, and reports on department's operational plans and budgets

Ensures the departmental plan, budget, and people resources and operating activities are conducted in accordance with CMPA policies and procedures

Supports corporate reporting requirements

Works closely with other department leadership and executive leadership to support CMPA strategic priorities and to address priority risks

Proposes long and short-term strategies for Actuarial Services in support of the Association's current and future needs

Responsible for developing and maintaining a technology roadmap to oversee the systems used by the team

Responsible for the design, implementation, and maintenance of internal control systems related to the work of Actuarial Services

Performance Metrics

Oversees and coordinates the development of integrated actuarial performance metrics that measure members' professional liability and CMPA's exposure

Provides information and reports to senior management on result/performance and issues or initiatives impacting the Association

Examines current actuarial practices and recommends improvements in services and methodologies

Advice, Expertise and Recommendations

Provides expert advice and consultation to ELT and Council in order to coordinate, prioritize, and support CMPA operations including operational planning and reporting, and the consideration and resolution of resource allocation issues

Communicates with other business areas regarding issues of organizational importance in order to facilitate the understanding and work of all employees; acts as a champion of corporate priorities and change within the Actuarial Services department and throughou