Associate, Actuarial Services

6 days ago

Toronto, Canada OMERS Full time

**SCOPE OF POSITION**:
The Associate will report directly to the Director, Actuarial Services and provide technical actuarial and strategic support pertaining to the OMERS pension plans. The Associate will assist in delivering, and expanding, in-house actuarial capabilities, working primarily with the Strategy & Actuarial team but may also work with, where required, specialists and analysts in other business units (primarily Pension, Corporate Finance and Risk teams).

**RESPONSIBILITIES**:
The Associate supports all Actuarial Services functions, including:
Prepare or review benefit calculations that require support from the Strategy & Actuarial team, such as:
Marriage breakdown
Buybacks and other past service purchases
NRA conversions
Reciprocal transfers
Shortened life expectancy
Pension estimates
Commuted values
Prepare membership data file for actuarial valuation purposes
Use internal actuarial valuation system (Proval) to generate results for use in the annual funding valuation, projection valuation and other valuation costing scenarios as required
Prepare reports and/or presentation materials for senior management and for the AC and SC Boards
Collaborate with the Finance team on various actuarial forecasts and the Risk team on risk metric calculations
Drawing on technical, analytical and report writing skills, assist the Strategy & Actuarial team with activities such as:
trend and sensitivity analyses (e.g. CV discount rates, inflation trends)
benefit provision utilization analyses
actuarial studies (e.g. experience, contribution rate, etc.)
actuarial disclosures
contribute to the public sector pension plan database
Assist with development and testing of systems (especially actuarial modules) and analytical tools, as required, to maintain top-tier delivery of in-house actuarial services.
Use a working knowledge of the OMERS pension plan texts and relevant administration practices to raise, triage or resolve issues.
Assist with the review of accuracy and completeness of publications, communication materials and financial statements.
Use knowledge of regulatory/policy changes relating to the OMERS pension plans, new OMERS initiatives and products, as well as trends in the actuarial profession and pension industry to help keep OMERS informed, up-to-date and compliant.
Ensure compliance with privacy and internal records management policies and guidelines.

**QUALIFICATIONS**:
University degree (preference for a major in actuarial science, statistics or mathematics).
Consistent progress towards attainment of Associateship/Fellowship of the Canadian Institute of Actuaries is strongly preferred.
Two to five years of pension or financial industry work experience.
Knowledge of Canadian pension legislation.
Highly analytical with a mathematical aptitude and a proven understanding of actuarial principles, statistical concepts and interest theory.
A client-service attitude, team spirit and strong two-way communication and presentation skills. Ability to establish and maintain effective working relationships.
Well organized with the ability to manage own work assignments, delivering accurate work, with an attention to detail, in a timely manner. Always aware to document steps taken to complete work.
Ability and desire to identify and implement process enhancements or automate tasks to ensure activities are completed in an efficient, value-added, manner. An ongoing desire to learn.
A strong aptitude for technology.
Proficient use of Microsoft Excel, Word and PowerPoint and their charting capabilities.
A working knowledge of programming languages (e.g. VBA, Python, R), data visualization tools (e.g. Power BI) and actuarial valuation software (e.g. Proval) is strongly preferred.

**Our story**:
Founded in 1962, OMERS is one of Canada’s largest defined benefit pension plans, with $121 billion in net assets as at December 31, 2021. OMERS is a jointly-sponsored pension plan, with 1,000 participating employers ranging from large cities to local agencies, and over half a million active, deferred and retired members. OMERS members include union and non-union employees of municipalities, school boards, local boards, transit systems, electrical utilities, emergency services and children’s aid societies across Ontario. Contributions to the Plan are funded equally by members and employers. OMERS teams work in Toronto, London, New York, Amsterdam, Luxembourg, Singapore, Sydney and other major cities across North America and Europe - serving members and employers and originating and managing a diversified portfolio of high-quality investments in public markets, private equity, infrastructure and real estate.

OMERS is committed to having a workforce that reflects the communities in which we live and work. We are an equal opportunity employer committed to a barrier-free recruitment and selection process. At OMERS inclusion and diversity means belonging. How we create a sense of belonging is through our employees and our vast

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