Actuarial Manager
5 months ago
**Work Location**:Toronto, Ontario, Canada
**Hours**:35
**Line of Business**:Data & Analytics
**Pay Details**:
**Department Overview**
TDI Insurance Risk Management (IRM) is accountable for the IRM program across TDI, relying on key activities and deliverables embedded within the accountabilities of business process, risk and control owners (first line). They are also accountable for ensuring alignment of IRM with TDI business priorities, capacity, and expertise to ensure a shared focus on common IRM objectives.
TDI IRM is accountable for the alignment of TDI with TD's Insurance Risk Policy. This is performed by challenging the Corporate Actuarial reserves as well as the Pricing analyses. This also requires the challenge of various business initiatives from an insurance risk perspective, the production of reports and dashboards to be presented to different risk committees as well as the production of the ORSA report. TDI Insurance Risk Management aims to perform challenges that are efficient, thorough and well documented.
The Manager, Insurance risk contributes to the success of the TDI Insurance Risk Management team acting as the Insurance Risk SME for the Change Management Review process, participating in the review and challenge of the corporate actuarial valuation, the review of the pricing analyses, the reinsurance strategy and in the development of insurance risk analytics and tools and leading the production of the GI ORSA report review,
Reporting directly to the Senior Manager Insurance Risk;
- Lead the strategy and execution of the actuarial challenge program for TDI General Insurance (GI) including but not limited to:
- Independent annual review of the GI Corporate Actuarial valuation
- Independent annual review of the GI Rate indication analyses
- Reviews of the methodologies and assumptions underlying the actuarial estimation processes
- Independent oversight of reinsurance treaty renewals and strategy
- Documentation and communication of findings and recommendations to management and executive stakeholders
- Delivering a program that operates in partnership with the business to add value and enable timely risk taking.
- Act as the Insurance Risk SME for the Change Management Review process performing the challenges of TDI GI initiatives affecting the premiums, claims, reserving, reinsurance, product and business plan
- Support the execution of the capital adequacy assessment processes for GI, including but not limited to:
- Ownership of the end-to-end Own Risk Solvency Assessment ("ORSA") process, including the production of the GI ORSA Report, the assessment of risks and recommended internal capital targets
- Participate in the challenge of the business’ assessment and management of Insurance Risk to be within the stated risk appetite across all areas of the business
- Collaborate on the development of new policies and provides support and quality review of existing policies
- Actively manage good business relationships within and across various business lines, corporate and/or control functions and ensure alignment with enterprise and/or regulatory requirements
- Keep abreast of emerging issues, trends, and evolving regulatory requirements and assess potential impacts
- Maintain a culture of risk management and controls supported by effective processes in alignment with risk appetite
- Supports the development, maintenance, enhancements and reporting of Key Risk Indicators for Insurance Risk in collaboration with our business partners
- Participate in the development of risk analytics and tools that allow for risk trend identification to challenge the business' assessment and management of Insurance Risk
- Participate in the design and the implementation of process improvements in order to achieve more efficient and insightful challenges
- Provide thought leadership and/ or industry knowledge for own area of expertise and participate in knowledge transfer
- Lead a team of actuarial analysts, develop talent and contribute to team development of skills and capabilities through mentorship of others, by sharing knowledge and experiences and leveraging best practices.
**Job Requirements**
- Minimum of 7 years of actuarial experience in the Property & Casualty (P&C) insurance field
- Bachelor's degree in actuarial sciences or related field, acquired or working towards Fellowship of the Casualty Actuarial Society, Canadian Institute of Actuaries or equivalent
- Diversified actuarial experience at an insurance company in risk management, pricing, reserving, reinsurance or product development function
- Superior written and oral communication skills
- Skill in mentoring/coaching others
- Excellent knowledge of the Microsoft Office Suite
- Strong problem-solving skills and the ability to proactively identify risks/issues and recommend solutions
- Client-focused and aptitude for teamwork with solid organizational and communications skills
- High degree of organizational awareness and sensiti
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