• 31325
  • Life - Actuarial
  • |
  • Ontario, Canada
  • |
  • Nov 23, 2017
Insurance Organization
  • Reporting to the Director, perform a key role in the growing model validation function of the company’s risk area.
  • Take the lead on managing and executing assigned model validation reviews.
  • Lead the validation of complex models, developed by other areas of the company. This includes:
  • Researching the conceptual soundness of methodology underlying the models validated with comparison to standard techniques used in the industry.
  • Communicating the results of model validation analysis with key stakeholders.
  • Communication of best practices in model risk management and development in the company.
  • University degree in a quantitative field such as Actuarial Science, Math, Statistics, Computational Finance or Engineering.
  • FSA, FCIA designation is strongly desired while the CERA designation would be considered an asset.
  • Minimum of 5 years of work experience with a minimum of 2 years of experience in the quantitative insurance risk management and/or model development within the financial services industry.
  • Experience with stochastic modeling is strongly desired.
  • Managerial experience:
  • Leading independent projects.
  • Experience leading independent projects including the development of insurance and market models is strongly desired.
  • Experience specifically in model validation and/or peer review process is considered an asset.
  • Software Development / Tools.
  • Hands-on experience on tools used in the company: AXIS, Access, Excel and Prophet are considered an asset.
  • Must be able to manage large projects and meet delivery commitments.
  • Insurance risk and math finance expertise: In-depth knowledge of insurance risk management, as well as a good understanding of products offered in the insurance industry.
  • Technical and programming skills: Must be able to learn new platforms and models quickly for the different models being validated, including the replication of complex model calculations from first principles.
  • Interpersonal and communication skills: Must be able to clearly communicate complex results to others through written model validation reports and interaction with model owners.
  • Must be able to manage relationships with model owners, and the ability to work well in a cross-functional team.