Senior Manager, Actuarial Services

3 weeks ago

Toronto, Canada Financial Services Regulatory Authority of Ontario Full time

Description

:

PURPOSE OF POSITION
Accountable for managing the Auto Actuarial Services Team in support of overall Auto/Insurance Products plans and priorities.


KEY RESPONSIBILITIES

Manages the Actuarial Services team to ensure consistency with overall Auto Insurance Supervision objectives and alignment with FSRA direction for regulating and supervising auto insurance industry rates, underwriting and products.

Supports FSRA leadership in formulating strategy, developing tactics, and executing programs and services, while promoting innovation and continuous improvement. Ensures effective communication with stakeholders and compliance with regulatory requirements.

Plans and manages Actuarial Services priorities, ensuring alignment with Auto Insurance Supervision performance measures, standards, and best practices. Provides evidence-based advice on issues and risks, including risk management and oversight, to support FSRA’s mandate.

Leads the costing analysis and benchmarking process for government-led auto insurance product reforms. This includes managing analytics delivered by external actuarial consulting firms, forming and leading the industry workgroup, providing recommendations on benchmarks and filing procedures, and overseeing the review and approval process for reform filings.

Supports the Auto Insurance Supervision's strategy for reforming auto insurance rating and underwriting regulations. Provides expert guidance to develop, maintain and enhance Fair Consumer Outcomes and assesses insurers' compliance with these outcomes in accreditation applications and FSRA's proactive supervision. Identifies potential issues related to unfair discrimination, accuracy, and bias, and offers recommendations to FSRA management on accreditation decisions.

Maintains and enhances the actuarial review process for rate filing applications, including procedures, systems, and standards, to ensure alignment with actuarial best practices. Leads and oversees the development of data requirements for automobile insurance statistical plans to support regulatory requirements and auto insurance product reforms.

Oversees the process, deliverables, and budget for external consultants and consulting contracts related to auto insurance supervision, ensuring services are delivered on time and within budget. This ensures FSRA can make timely and informed regulatory decisions.

Manages and processes the actuarial review of rate filing applications, including assessments of accuracy and profitability, as part of FSRA's accreditation assessment and proactive supervision. Provide recommendations to FSRA's management team regarding rate filing approvals, accreditation assessment results, and any issues identified during proactive supervision, particularly concerning potential unfair discrimination in accuracy, bias, and profitability.

Oversees the review of predictive models (including the latest machine learning and artificial intelligence) used in auto insurance rate filings to ensure just and reasonable rates and risk classification systems. This includes evaluating insurers' model life cycles, approval processes, governance, risk management, performance and validation. Assesses the robustness, adequacy, and effectiveness of these models from a procedural perspective during the accreditation assessment.

Collaborates with the management team, including the Chief Actuary, Head of Auto Insurance Supervision, and EVPs, on operational planning, performance metrics, and program effectiveness. Fosters a culture of service excellence, collaboration, and accountability. Manages the Actuarial Services team to support a culture of service excellence which respects diversity, encourages colleagues to work together to achieve results and contributes to a healthy, rewarding and productive working environment where personal and team accountability are key to meeting the mandate of FSRA.

Builds a robust actuarial team by overseeing hiring, orientation, training, coaching, performance standards, reviews, and management. Motivate staff to pursue continuous professional development and stay current with industry trends, emerging issues, and advancements in insurance and technology.
 

QUALIFICATIONS

Education and Experience

Degree in actuarial science.

Fellow of the Casualty Actuarial Society (FCAS) and Fellow of the Canadian Institute of Actuaries (FCIA).

6 to 8 years of experience in planning, managing, and delivering actuarial services within a large organization, including significant experience in auto insurance pricing or related areas.

Auto Insurance Pricing experience strongly preferred.


Knowledge and Skills

Change Leadership: Ability to lead and manage change effectively within an organization.

Team Leadership: Experience in leading diverse teams across various roles, levels, and experience.

Matrix Management: Proficiency in working within a matrix structure, including expert collaboration and judicious use of escalation.

Actuarial Expertise: In-depth knowledge of actuarial principles, standards, ratemaking, reserving methodologies, and automobile insurance governance.

Statistical and Actuarial Skills: Expertise in actuarial and statistical principles and methods, particularly related to auto and property casualty insurance products.

Job Posting End Date:

09/26/2024

Job postings close at 11:59pm on the date noted.

Employment Type:

Regular

Scheduled Weekly Hours:

36.25

FSRA is committed to ensuring equity in employment. Our goal is to create a diverse, inclusive workforce that reflects the communities we serve and to ensure our services and communications are accessible to all individuals. Accommodation is available under the Ontario Human Rights Code.

NOTE: ONLY QUALIFIED CANDIDATES WILL BE CONSIDERED

  • Senior Manager, Actuarial Services

    10 hours ago

    Toronto, Ontario, Canada Financial Services Regulatory Authority of Ontario Full time

    Job Title: Manager, Auto Actuarial Services At FSRA, our vision is to ensure financial safety, fairness, and choice for Ontarians. As a financial services regulator, we're passionate about protecting consumers. Our principles-based approach means we can quickly and effectively respond to the changing needs of consumers and the industry. About FSRA FSRA is...

  • Senior Manager, Actuarial Services

    21 hours ago

    Toronto, Ontario, Canada Financial Services Regulatory Authority of Ontario Full time

    Job SummaryThe Financial Services Regulatory Authority of Ontario (FSRA) is seeking a highly skilled and experienced Actuarial Services Manager to join our team. As a key member of our Auto Insurance Supervision team, you will be responsible for managing the Actuarial Services team and ensuring consistency with overall Auto Insurance Supervision objectives...

  • Senior Manager, Actuarial Services

    1 day ago

    Toronto, Ontario, Canada Financial Services Regulatory Authority of Ontario Full time

    Job SummaryThe Financial Services Regulatory Authority of Ontario (FSRA) is seeking a highly skilled and experienced Actuarial Services Manager to join our team. As a key member of our Auto Insurance Supervision team, you will be responsible for managing the Actuarial Services team and ensuring consistency with overall Auto Insurance Supervision objectives...

  • Senior Manager, Actuarial Services

    19 hours ago

    Toronto, Ontario, Canada Financial Services Regulatory Authority of Ontario Full time

    Job SummaryThe Financial Services Regulatory Authority of Ontario (FSRA) is seeking a highly skilled and experienced Actuarial Services Manager to join our team. As a key member of our Auto Insurance Supervision team, you will be responsible for managing the Actuarial Services team and ensuring consistency with overall Auto Insurance Supervision objectives...

  • Senior Manager, Actuarial Services

    2 weeks ago

    Toronto, Canada Financial Services Regulatory Authority of Ontario Full time

    At FSRA, our vision is to ensure financial safety, fairness, and choice for Ontarians. As a financial services regulator, we're passionate about protecting consumers. Our principles-based approach means we can quickly and effectively respond to the changing needs of consumers and the industry.Our team combines industry expertise with commitment to public...

  • Senior Manager, Actuarial Services

    2 weeks ago

    Toronto, Ontario, Canada Financial Services Regulatory Authority of Ontario Full time

    At FSRA, our vision is to ensure financial safety, fairness, and choice for Ontarians. As a financial services regulator, we're passionate about protecting consumers. Our principles-based approach means we can quickly and effectively respond to the changing needs of consumers and the industry.Our team combines industry expertise with commitment to public...

  • Manager Actuarial Services

    3 months ago

    Toronto, Canada Workplace Safety and Insurance Board Full time

    As a member of the actuarial management team, lead and manage a team of actuarial staff, in delivering reliable, accurate, comprehensive and timely actuarial services to internal and external clients. Core actuarial services includes valuation of benefit liabilities, funding, financial forecasting, premium rate setting, administration rate setting, benefit...

  • Actuarial Services Senior Associate

    3 weeks ago

    Toronto, Ontario, Canada Caatpension Full time

    Join CAAT Pension Plan as a Senior Associate in Actuarial Services At CAAT Pension Plan, we are dedicated to delivering secure and sustainable retirement solutions for Canadians. As a Senior Associate in our Actuarial Services team, you will play a crucial role in supporting our mission and growth strategy. Key Responsibilities: Develop and implement tools...

  • Senior Actuarial Manager, Annuities

    3 weeks ago

    Toronto, Ontario, Canada Berkshire Hathaway Group, Reinsurance Division Full time

    Company OverviewThe Berkshire Hathaway brand is recognized for its commitment to trust, integrity, and responsible risk management. Our reputation is built on the actions of our dedicated team members who embody these values in their daily work. Our robust financial standing allows us to offer reliable capacity and innovative, customized solutions, enabling...

  • Senior Actuarial Manager, Annuities

    3 weeks ago

    Toronto, Ontario, Canada Berkshire Hathaway Group, Reinsurance Division Full time

    About Berkshire Hathaway Group, Reinsurance DivisionThe Berkshire Hathaway brand is recognized for its commitment to trust, integrity, and responsible risk management. Our enduring reputation is built on the actions of our dedicated team members who embody these values daily. Our robust financial foundation allows us to offer consistent capacity and...

  • Senior Actuarial Consultant

    3 weeks ago

    Toronto, Ontario, Canada LifeWorks Full time

    Senior Actuarial ConsultantJoin a leading organization dedicated to enhancing the health and well-being of individuals and organizations. As a Senior Actuarial Consultant, you will play a pivotal role in shaping our actuarial services, leveraging your extensive experience to drive business growth and deliver exceptional client solutions.Your RoleIn this...

  • Senior Actuarial Analyst

    3 days ago

    Toronto, Ontario, Canada Aon Corporation Full time

    Senior Actuarial Analyst (P&C Reinsurance) Senior Actuarial Analyst (P&C Reinsurance) Aon is seeking a highly skilled Senior Actuarial Analyst to join our team in Toronto, Canada. This is a hybrid role that offers the flexibility to work both virtually and from our office. About Aon Aon is a global professional services firm that helps organizations...

  • Senior Actuarial Professional

    2 days ago

    Toronto, Ontario, Canada Aon Corporation Full time

    About the RoleAon Corporation is seeking a highly skilled Senior Actuarial Analyst to join our team. As a Senior Actuarial Analyst, you will play a key role in analyzing complex data, making informed decisions, and driving business growth.Key ResponsibilitiesAnalyze and interpret complex data to inform business decisionsDevelop and maintain actuarial models...

  • Senior Actuarial Professional

    3 days ago

    Toronto, Ontario, Canada Aon Corporation Full time

    About the RoleAon Corporation is seeking a highly skilled Senior Actuarial Analyst to join our team. As a Senior Actuarial Analyst, you will play a key role in analyzing complex data, making informed decisions, and driving business growth.Key ResponsibilitiesAnalyze and interpret complex data to inform business decisionsDevelop and maintain actuarial models...

  • Senior Actuarial Professional

    16 hours ago

    Toronto, Ontario, Canada Aon Corporation Full time

    About the RoleAon Corporation is seeking a highly skilled Senior Actuarial Analyst to join our team. As a Senior Actuarial Analyst, you will play a key role in analyzing complex data, making informed decisions, and driving business growth.Key ResponsibilitiesAnalyze and interpret complex data to inform business decisionsDevelop and maintain actuarial models...

  • Senior Audit Manager

    2 weeks ago

    Toronto, Ontario, Canada Company 1 - The Manufacturers Life Insurance Company Full time

    About Company 1 - The Manufacturers Life Insurance CompanyCompany 1 is a leading global financial services group, providing advice, insurance, and wealth management solutions to individuals and institutions worldwide. We are committed to fostering an inclusive and diverse workplace where everyone feels valued and respected.Job OverviewWe are seeking a highly...

  • Senior Actuarial Analyst

    1 month ago

    Toronto, Canada the Ladders Full time

    What it's like to be a Northbridge Senior Actuarial Analyst, Actuarial PricingOur Senior Actuarial Analysts are known in the organization for being the experts in providing Pricing recommendations to our Underwriting teams. They use their strong P+C actuarial knowledge to ensure our prices are compe

  • Actuarial Associate

    1 month ago

    Toronto, Canada Financial Services Regulatory Authority of Ontario Full time

    Description : OVERVIEW OF ROLE As a member of the Pensions Team, you will provide actuarial services in support of regulatory oversight of Ontario pension plans industry to ensure compliance with FSRA legislation, policies and professional actuarial standards. Additional duties will include: Reviewing pension plan filings and applications to...

  • Senior Reserving Actuary

    2 weeks ago

    Toronto, Ontario, Canada Zurich Insurance Company Full time

    Lead Reserving Analysis and Drive Strategic Insights at Zurich CanadaZurich Canada is seeking a highly motivated and experienced Senior Reserving Actuary to join our Finance Actuarial team. In this role, you will play a pivotal part in shaping our reserving strategies and providing critical insights into risk management and financial performance.Your...

  • Associate, Actuarial Services

    3 weeks ago

    Toronto, Canada OMERS Full time

    Choose a workplace that empowers your impact. Join a global workplace where employees thrive. One that embraces diversity of thought, expertise and experience. A place where you can personalize your employee journey to be — and deliver — your best. We are a purpose-driven, dynamic and sustainable pension plan. An industry leading global investor with...