Actuarial Associate, Bmo Life Assurance

1 week ago

Toronto, Canada BMO Financial Group Full time

250 Yonge Street Toronto Ontario,M5B 2L7

This role will be part of the Actuarial Student Program, and we provide support (exam study days, study material and registration fees) to you to pursue full actuarial designations.

**Key Accountabilities**:

- Create and update pricing models for pricing initiatives, which includes preparation and/or presentation of pricing report results to Pricing Actuaries and senior management.
- Conduct research and derive pricing statistics and other key variables to support Whole Life product lines and ensure that the required pricing assumptions are accurate and reasonable.
- Design required technical changes for pricing of new products and/or product enhancements and ensure all required updates or changes are done as required to support ongoing business operations, monitor pricing assumptions, and provide approval for required changes.
- Support Life special quotes, policy administration, and illustration software testing
- Communicate insurance quotes and corresponding technical information as required to brokers and regional sales employees, addressing any questions and resolving any outstanding issues.
- Support pricing projects as required, which includes, but not limited to, evaluating product design concepts, completion of experience studies, and evaluating reinsurance treaties.
- Assist in the production of management information reports on the profitability of product lines as well as emerging business and industry trends.
- Support the implementation and testing of product changes in the illustration software and administrative systems.
- Support other requirements within the Pricing department such as product development, reporting, regulatory implementation ensuring compliance with Canadian Institute of Actuaries (CIA) guidelines, Income Tax Act and OSFI regulatory framework (e.g. LICAT and IFRS 17)
- Update and create documentations and procedures for processes as appropriate, as well as prepare change management documentation.

**Basic Requirements**:

- Completion of a University degree in Actuarial Science, Math, Finance or a similar discipline
- Completion of at least 2 SOA or equivalent actuarial exams
- Understanding of valuation and/or pricing analysis methodologies is an asset.
- Excellent working knowledge of Microsoft Office - Excel, Word and PowerPoint
- Knowledge of Life Insurance products is an asset.
- Knowledge of Moody’s Analytics AXIS is an asset.

**Compensation and Benefits**:
$54,500.00 - $101,500.00

**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.

**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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