Actuarial Rotation Program

1 week ago


Toronto, Ontario, Canada BMO Full time
Job Summary

This is an exciting opportunity for an Actuarial Rotation Program to join our team at BMO. As an Actuarial Rotation Program, you will have the chance to work in various areas of the organization, gaining valuable experience and broadening your actuarial and business knowledge.

Key Responsibilities
  • Prices insurance products with up-to-date pricing assumptions, performing cash flow testing for assigned insurance products and using the required actuarial technology.
  • Monitors lapse, mortality/morbidity experience on an on-going basis and provides reporting on the profitability of new products and/or product enhancements.
  • Provides actuarial services expertise and advisory support for all insurance products of BMO Life Assurance.
  • Analyzes, evaluates and compares competitor insurance products for the high net worth market and other markets.
  • Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
  • Built effective relationships with internal/external stakeholders.
  • Ensures alignment between stakeholders.
  • Analyzes company data to provide management reporting on insurance industry and internal business trends.
  • Creates and validates Excel spreadsheets to accurately reflect product values, marketing concepts and company profitability on a monthly basis, including analysis and commentary.
  • Breaks down strategic problems, and analyzes data and information to provide insights and recommendations.
  • Provides input for continuous improvement of processes and procedures to support more effective operations.
  • Provides input into the planning and implementation of operational programs.
  • Provides sales support and business expertise in the production of insurance quotes for high net worth clients and other clients upon request.
  • Performs required illustrations based on defined parameters using business judgment and makes appropriate referrals for illustrations of higher complexity and large policy over product's maximum issue limit.
  • Provides business and technical expertise when required for management reporting, special projects and technology issues.
  • Provides input into product design using actuarial experience and competitive & industry knowledge, including presenting counter proposals as required for new and existing products.
  • Provides an ongoing competitive analysis of BMO insurance products and identifies opportunities for business growth.
  • Coordinates provision of management information, according to established needs and timelines, for use in internal and external audits and for general management information.
  • Reviews progress to plans, and participates in the implementation of actions necessary to correct internal and external issues.
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.


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