Senior Actuarial Analyst
1 week ago
Farm Mutual Re is a mutual reinsurer that offers tailored reinsurance solutions for varied insurance lines and helps mutual insurers keep their promises by providing financial stability and insurance capacity. Recognized as Waterloo Area's Top Employers 2025 and Canada's Greenest Employer 2024, we remain committed to making a meaningful impact on our members, customers, employees, and business partners. Our values of care, trust, courage, and sustainability foster a sense of belonging and guide our decisions and actions.
The Opportunity
As a Senior Actuarial Analyst with Farm Mutual Re, you will be a key member on a small Actuarial team to develop reinsurance pricing methodologies to support company reinsurance products and contribute to profitability improvements. Additionally, you will develop capital allocation and return and analyze company exposures to achieve a highly diversified portfolio. This position offers a hybrid work schedule.
As the successful candidate, you will:
- Develop and review rating models for major lines and other business segments.
- Perform internal data validation to ensure accuracy of the information used in Pricing/Planning.
- Collaborate with treaty underwriters to analyze reinsurance rate adequacy.
- Periodically review performance against targets, perform root cause analysis, and contribute to recommendations for remedial action to address the underlying issues.
- Develop reports to track technical rate deviations.
- Assist with the development and review the rate monitoring process.
- Perform profitability studies for segments of interest.
- Research external benchmarks for dealing with low credibility lines.
Your Skills and Qualifications
- Bachelor's degree with Actuarial Science and/or Mathematics and Statistics is required
- A minimum of 3 years of prior experience in actuarial ratemaking, pricing or a related P&C actuarial function, with a minimum of 1 year of reinsurance experience.
- Near or newly credentialed P&C actuary with Basic Ratemaking exam credit
- Strong communication and documentation skills, with the ability to explain technical concepts to non-actuarial partners
- Advanced quantitative and statistical modeling skills with experience in rating models and risk assessment
- Ability to conduct and present profitability studies, technical rate monitoring, and risk quantification analyses
- Strong ability to perform root cause analysis and develop data-driven recommendations for pricing and business improvements
- Detail-oriented and analytical mindset with problem solving abilities.
- Strong data and statistical analysis skills
- Proficiency in spreadsheet software, database query software
What's in it for you?
- Flexible hybrid work environment, which balances remote and in-office work
- A comprehensive wellness plan, including personalized health coaching, fitness classes, and access to an on-site gym
- Ongoing professional development opportunities, such as paid education, training, certifications, mentorship programs, and personalized career development plans
- Paid volunteer day to give back to your community
- In addition to our competitive salary, employees also receive exceptional employer-paid benefits, a defined benefit pension plan, and more to support their future
How to Apply
Visit our website and complete our Employment Application found on our Careers page.
Farm Mutual Re is committed to creating an equitable, diverse, and inclusive work environment for all. We provide accommodations that help achieve a barrier-free workplace. If you require an accommodation to participate in the recruitment process, please contact recruitment@farmmutualre.com.
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