Actuary - Reporting Oversight

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Executes the calculations and analysis required for regulatory and management reporting, with a focus on IFRS 17. You will oversee and validate actuarial results, ensuring the data conforms to prescribed guidelines, and explain the financial outcomes to internal stakeholders.

• Analyzes financial results to identify necessary enhancements for actuarial models and methodologies; you will then coordinate and lead the implementation of these enhancements.

• Assists in the design of new actuarial methodologies aimed at mitigating earning volatility and supporting sustainable business growth.

• Articulates and elaborates on methodology changes to auditors and peer reviewers, both in writing and during meetings.

• Prepares the Appointed Actuary's Report, including all supplementary tables. This involves checking and reviewing various outputs from models that form the basis of the Appointed Actuary's opinion on the value of actuarial liabilities, which is under scrutiny by OSFI, auditors, and the Board of Directors.

• Assists with the calculations required for the opinion on the various Appointed Actuary legal responsibilities.

• Checks and reviews various outputs from models used as the basis for the Appointed Actuary's opinion. Opinions are required for the value of actuarial liabilities held on the Balance Sheet. All opinions are under detailed scrutiny by OSFI, BMO Insurance Boards of Directors, internal and external auditors.

• Provides actuarial and IFRS 17 methodology support for other divisions of BMO, including risk, pricing, investment and finance.

• Assists in developing financial dashboards to monitor business performance and identify emerging issues and trends to inform decision-making.

• Breaks down strategic problems, conducting independent analysis to provide data-driven insights and recommendations that influence business objectives and help determine strategic priorities.

• Builds effective relationships with internal and external stakeholders, ensuring alignment on key initiatives.

• Focuses on complex insurance products, such as Universal Life, innovative Pension Risk Transfer,  and Segregated Funds.

• Works independently to handle non-routine situations and exercises judgment to identify, diagnose, and solve problems.

• Broader work or accountabilities may be assigned as needed.

• Typically between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.

• FSA/FCIA designation.

• A minimum of 6+ years of relevant experience combined with a post-secondary degree in a related field.

• In-depth knowledge of the Corporate Reporting Process (Valuation, Projections) and IFRS 17 reporting standards.

• In-depth product knowledge of Traditional, Universal Life, Whole Life, and Segregated Fund products.

• Strong knowledge of actuarial and IFRS 17 reporting systems, including AXIS and Moody's Risk Integrity, along with proficiency in Excel and Access.

• Demonstrated in-depth skills in the following areas:

- Verbal & written communication

- Collaboration & teamwork

- Analytical and problem-solving

- Influence and negotiation

- Data-driven decision making

Salary:

Pay Type:

The above represents BMO Financial Group's pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group's expected target for the first year in this position.

BMO Financial Group's 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. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: 

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We'll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we'll help you gain valuable experience, and broaden your skillset.

To find out more visit us at

BMO is 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. To request accommodation, please contact your recruiter.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.