Actuarial Rotation Program for New Graduates

4 days ago


Toronto, Ontario, Canada Bank of Montreal Full time
Job Summary

We are seeking a highly motivated and detail-oriented Actuarial Rotation Program candidate to join our team at the Bank of Montreal. As an Actuarial Rotation Program, you will have the opportunity to work in various departments and gain a broad understanding of the organization.

Key Responsibilities
  • Price insurance products with up-to-date pricing assumptions and perform cash flow testing for assigned insurance products.
  • Monitor lapse, mortality/morbidity experience on an ongoing basis and provide reporting on the profitability of new products and/or product enhancements.
  • Provide actuarial services expertise and advisory support for all insurance products of BMO Life Assurance.
  • Analyze, evaluate, and compare competitor insurance products for the high net worth market and other markets.
  • Support the execution of strategic initiatives in collaboration with internal and external stakeholders.
  • Build effective relationships with internal/external stakeholders.
  • Ensure alignment between stakeholders.
  • Analyze company data to provide management reporting on insurance industry and internal business trends.
  • Create and validate Excel spreadsheets to accurately reflect product values, marketing concepts, and company profitability on a monthly basis.
  • Break down strategic problems and analyze data and information to provide insights and recommendations.
  • Provide input for continuous improvement of processes and procedures to support more effective operations.
  • Provide input into the planning and implementation of operational programs.
  • Provide sales support and business expertise in the production of insurance quotes for high net worth clients.
  • Perform required illustrations based on defined parameters using business judgment and make appropriate referrals for illustrations of higher complexity.
  • Provide business and technical expertise when required for management reporting, special projects, and technology issues.
  • Provide input into product design using actuarial experience and competitive & industry knowledge.
  • Provide ongoing competitive analysis of BMO insurance products and identifies opportunities for business growth.
  • Coordinate provision of management information for use in internal and external audits.
  • Reviews progress to plans and participates in the implementation of actions necessary to correct internal and external issues.
  • Thinks creatively and proposes new solutions.
  • Exercises judgment to identify, diagnose, and solve problems within given rules.
  • Works mostly independently.
Requirements
  • 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.
What We Offer

We offer a competitive salary and a comprehensive benefits package, including performance-based incentives, discretionary bonuses, and other perks and rewards. Our total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards.

We are committed to an inclusive, equitable, and accessible workplace. By learning from each other's differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process.



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