Associate Director, Life Insurance Actuarial Valuation

1 week ago

Mississauga, Ontario, Canada RBC Full time $120,000 - $180,000 per year

Job Description

What is the Opportunity?

Manage a technical actuarial model development team to deliver actuarial models for estimation of liabilities for IFRS17 financial reporting, business plan and forecast, stress testing and other actuarial by-products. Ensure that the integrity of life insurance actuarial valuation models is maintained. This role also supports the Portfolio Actuaries and Financial Reporting Actuary, Actuarial Project Leaders and their teams

What will you do?

Model Development

  • Accountable for the change management process that maintains model integrity.
  • Support and oversight of developers as they execute model changes required for regulatory and business purposes
  • Ensure models meet all requirements for actuarial liabilities, production of liability cash flows, business plan, capital projection, stress testing, earnings analysis, CSM roll-forward and other business metrics used to monitor the business and detect emerging trends
  • Provide on-call model support for month end financial reporting
  • Project Consulting

Operational Excellence

  • Create and execute vision of a state-of-the-art actuarial modeling system for all RBC-I life, health, and annuity portfolios.
  • Ensure all actuarial models meet the enterprise Model Risk Governance policy
  • Provide support as required to Internal and External Audit

What do you need to succeed?

Must-have

  • In depth knowledge of IFRS17 actuarial valuation concepts
  • Strong knowledge of Life Insurance products and administration systems
  • Highly Experienced with GGY AXIS valuation software
  • Experience with Microsoft Word, Access and Excel
  • Excellent written and oral communication skills
  • Strong people management skills

Nice-to-have   

  • Experience with AON PathWise
  • Fellow of the Society of Actuaries
  • Experience with knowledge of Python, R, SQL.

What's in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

  • A comprehensive Total Rewards Program including bonuses and flexible benefits
  • Leaders who support your development through coaching and managing opportunities
  • Ability to make a difference and lasting impact
  • Work in an agile, collaborative, progressive, and high-performing team

Job Skills

Actuarial Modeling, Actuarial Services, Actuarial Valuation, Coaching Others, Customer Success, Industry Knowledge, Insurance Finance and Actuarial Concepts, Model Development, Model Risk, 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:

Employment Type:

Full time

Platform:

GROUP RISK MANAGEMENT

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

Application Deadline:

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

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