Actuarial Associate Director

2 months ago

Mississauga, Canada Royal Bank of Canada Full time

**Job Summary**

**What is the opportunity?**

The Associate Director will be responsible for leading the actuarial and risk management functions for the reinsurance product lines through timely and effective financial reporting, valuation of policy liabilities, and risk management. The role also involves mentoring and developing staff.

**What will you do?**

The role will cover various areas of the management of the international insurance business within RBC and there is some scope to shape the balance of the role between the following areas:

- Leading annual mortality and other experience studies to identify and interpret emerging trends and propose new assumptions for valuation and actionable items to facilitate sustainable profitability for the business.
- Leading risk governance and oversight, support annual update of risk appetite and delegated authority, and ensure top and emerging risks remain within risk appetite through frequent monitoring.
- Contributing to actuarial financial reporting to ensure effective completion of all annual, quarterly and monthly actuarial processes including but not limited to valuation and Appointed Actuary Report. In addition, provide the business with implications of emerging financial results and related metrics for mortality, mortality improvement, expense and economic drivers.
- Contributing as needed to the valuation modelling with maintaining/ updating/ validating Moody’s AXIS valuation models for monthly reporting, assumption updates, model enhancements and coordination with regression testing.
- Work closely with the business and other functional partners on strategic projects and tactical actions including business planning and forecasting.

**What will you need to succeed?**
- Fellow of the Society of Actuaries and/or Canadian Institute of Actuaries or equivalent foreign designation
- 5 to 10 years of experience within the life insurance industry
- Experience in life retrocession and longevity reinsurance product lines is an asset
- Leadership skills to engage team and effective communication skills to explain technical issues in a simple way
- Strong analytical and technical skills to review work and challenge results. Familiarity with AXIS is an asset.
- Knowledge of life insurance standards of practice, reserving principles, insurance accounting, product design and administration, pricing framework, capital regime, and regulatory compliance guidelines and IFRS 17
- Ability to juggle multiple priorities, deal with ambiguity and manage workloads

**Special Conditions**

**What's in it for you?**
- A Total Rewards program that includes flexible benefits, work/life balance and career development programs and investment and retirement savings plans
- Competitive pay and high-earning potential
- All the tools, training, and team support you need to grow your career
- Flexible work/life balance options
- Sophisticated RBCI software tools to boost your productivity

**Job Skills**

Actuarial Modeling, Actuarial Services, Critical Thinking, Industry Knowledge, Insurance Finance and Actuarial Concepts, Multi-Level Communication, Probability Theory, Risk Analysis Management, Risk Management, System Applications

**Additional Job Details**

**Address**:
MEADOWVALE BUSINESS PARK, 6880 FINANCIAL DR:MISSISSAUGA

**City**:
MISSISSAUGA

**Country**:
Canada

**Work hours/week**:
37.5

**Employment Type**:
Full time

**Platform**:
GROUP RISK MANAGEMENT

**Job Type**:
Regular

**Pay Type**:
Salaried

**Posted Date**:
2024-11-05

**Application Deadline**:
2024-11-28

**I**nclusion** and Equal Opportunity Employment**

At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.

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