Bmo Insurance Actuarial Rotation Program
3 weeks ago
33 Dundas Street West Toronto Ontario,M5G 3C2
While working towards completing your Fellowship of the Canadian Institute of Actuaries you will rotate to a different department every 18 months. This program will give Actuarial graduates an opportunity to broaden their actuarial and business experience, working within various areas of the organization.
We offer a friendly and supportive work environment that rewards initiative and commitment. With many other students and actuaries working with you, there’s a tremendous support system in place to help guide you through exams and work challenges.
This role starts June 2025. We are actively seeking students enrolled in an undergraduate degree program, graduating Spring 2025.
Rotations could include:
- Actuarial Pricing
- Corporate Actuarial
- Resinsurance
- Investments & AML
- Corporate Risk
You will take on responsibilities similar to the description listed below.
Prices insurance products with up-to-date pricing assumptions, performing cash flow testing for assigned insurance products and using the required actuarial technology. Monitors lapse, mortality/morbidity experience on an on-going basis and provides reporting on the profitability of new products and/or product enhancements. Provides actuarial services expertise and advisory support for all insurance products of BMO Life Assurance - from direct marketing, Life insurance through agency operations, structured settlements and group annuity contracts (known as terminal funding), SPIAs, segregated funds and other retirement and investment products.
- Analyzes, evaluates and compares competitor insurance products for the high net worth market and other markets.
- Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
- Builds effective relationships with internal/external stakeholders.
- Ensures alignment between stakeholders.
- Analyzes company data to provide management reporting on insurance industry and internal business trends.
- Creates and validates Excel spreadsheets to accurately reflect product values, marketing concepts and company profitability on a monthly basis, including analysis and commentary.
- Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
- Provides input for continuous improvement of processes and procedures to support more effective operations.
- Provides input into the planning and implementation of operational programs.
- Provides sales support and business expertise in the production of insurance quotes for high net worth clients and other clients upon request.
- Performs required illustrations based on defined parameters using business judgment and makes appropriate referrals for illustrations of higher complexity and large policy over product’s maximum issue limit.
- Provides business and technical expertise when required for management reporting, special projects and technology issues.
- Provides input into product design using actuarial experience and competitive & industry knowledge, including presenting counter proposals as required for new and existing products.
- Provides an ongoing competitive analysis of BMO insurance products and identifies opportunities for business growth.
- Coordinates provision of management information, according to established needs and timelines, for use in internal and external audits and for general management information.
- Reviews progress to plans, and participates in the implementation of actions necessary to correct internal and external issues.
- Focus may be on a business/group.
- Thinks creatively and proposes new solutions.
- Exercises judgment to identify, diagnose, and solve problems within given rules.
- Works mostly independently.
- Broader work or accountabilities may be assigned as needed.** Qualifications**:
- Currently enrolled in an actuarial science or mathematics degree program.
- Successful completion of at least 1 SOA exam and actively pursuing an FSA/FCIA designation.
- Combination of excellent analytical and mathematical skills with strong work ethic.
- Strong software skills in MS Excel and MS Access database.
- Knowledge of life insurance products is an asset.
- Specialized knowledge from education and/or business experience.
- Verbal & written communication skills - In-depth.
- Collaboration & team skills - In-depth.
- Analytical and problem solving skills - In-depth.
- Influence skills - In-depth.
**Salary**:
$49,000.00 - $90,800.00
**Pay Type**:
Salaried
The above represents BMO Financial Group’s pay range and type.
Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.
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