Vice President, Appointed Actuary, Bmo Insurance

4 weeks ago

Toronto, Canada BMO Financial Group Full time

60 Yonge Street Toronto Ontario,M5E 1H5

Fulfills all required actuarial functions on behalf of the Board of Directors and OSFI, using considerable judgement and industry experience in the assessment of BMO Insurance financials and business solvency, and submitting opinions relating to actuarial liabilities, capital positions, participating dividend scales and fairness of participating policyholder’s investment income, expenses, and tax allocations. Manages the valuation side of the actuarial function for BMO Insurance, including preparing regulatory and management reporting on the business and working in close partnership with the Chief Financial Officer. As an important member of the Investment Committee for BMO Insurance, ensures ongoing collaborative meetings designed to develop, implement, and maintain an investment program under the direction of the BMO Insurance Boards of Directors.

**Key Accountabilities**:

- Opines on the various Appointed Actuary legal responsibilities. These include but are not limited to an annual opinion on the value of actuarial liabilities held on the Balance Sheet, annual opinion on the ongoing solvency of BMO Insurance, quarterly regulatory capital calculations, and annual Participating Policyholder Bonus recommendations. All opinions are under detailed scrutiny by OSFI, BMO Insurance Boards of Directors, internal and external auditors.
- Requires active participation in Credit Risk, Market Risk analysis and coordination direction setting of investment strategy.
- Builds and sustains a team of direct reports who are capable of delivering the performance required for the group, including coaching and the creation and implementation of training and development plans.
- Applies the Bank’s performance management system to direct reports, including establishing goals and objectives, assessing skilled knowledge gaps, allocating resources to achieve objectives and close gaps, assessing personal effectiveness, and reviewing and recommending base and variable pay.
- Sets direction for direct reports by providing relevant information and establishing goals.
- Reviews and signs off on other actuarial issues. Includes signoff on new product initiatives, review of economic capital calculations, review of financial business plans and additional actuarial support for risk, legal, policyholder services and other areas.

**Qualifications**:

- Post secondary education with a focus on actuarial sciences
- FSA/FCIA designation with applied actuarial skills in insurance and reinsurance
- Solid foundation in actuarial mathematics and strong insurance/actuarial software skills
- In depth knowledge of Life Insurance and Annuity products
- Extensive experience in related actuarial functions
- Strong negotiation skills
- Minimum 15-20 years Insurance industry experience

**We’re here to help**

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one - for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

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