Vice President and Valuation Actuary

  • 34183
  • Life - Actuarial
  • |
  • Ontario, Canada
  • |
  • Sep 12, 2018
Reinsurance
RESPONSIBILITIES
  • Ensures financial statements are produced on all required bases for inclusion in the Branch’s incentive compensation and annual planning processes on a timely and accurate basis.
  • Ensures a controlled modelling framework for valuation that is, both efficient and aligned to global requirements.
  • Works closely with Appointed Actuary to ensure all Canadian regulatory reporting requirements and issues are handled in a timely and efficient manner.
  • Coordinates with the Appointed Actuary to monitor the capital position of the Branch to determine if any action is required to maintain an appropriate capital adequacy level. Makes recommendations to CFO regarding the transfer of any funds to or from Home Office.
  • Communicates to Senior Management and Business Leaders on regulatory reserving or capital changes that may impact on the pricing/business models, coordinating with the AA with respect to Canadian reserve and capital requirements.
  • Communicates the actuarial aspects of the financial reports, planning and monitoring to all interested parties.
  • Consults and supports the business line Executives in the preparation of quote-proposals, as a basis for new treaties and treaty negotiations, ensuring the terms and conditions of life risks comply with corporate regulations on the Branch’s life business and with a view to profitability, growth, market conditions as well as client requirements.
  • Advises and supports the business line managers in matters such as changing pricing assumptions of the business and on unusual arrangements with regard to large block deals etc. and implications on tax, foreign jurisdiction and issues concerning capital position ratios.
  • Represents Canada on the Global Life Valuation Board and coordinates / communicates all relevant valuation topics with Central Life Reserving.
  • Ensures that the results of the asset and liability analysis are conveyed along with investment strategies to the Branch’s Investment Manager, coordinating with the AA.
  • Discusses optimal position of the Branch’s asset portfolio, considering global issues versus local needs and impacts.
  • Reviews experience studies from Biometric Research including; Mortality, Lapse, Morbidity Incidence, Morbidity Termination and IBNR sufficiency and decides on changes to the assumptions used for financial reporting.
  • Monitors new/changes in regulation, CIA standards of practice, Home Office reporting requirements, and International Financial Reporting Standards for the potential impact on financial reporting and planning.
  • Supports the implementation of changes to Branch systems and/or processes to implement changes to regulations and guidelines.
  • Hires and develops a high performance team that is highly engaged and recognized as experts both internally throughout the global organization and externally amongst clients.
  • Ensures all employees have a clear understanding of corporate and departmental objectives, and that every employee has challenging personal objectives.
  • Provides challenging tasks and assignments and holds frequent development discussions with employees to provide career growth and development.
QUALIFICATIONS
  • FCIA designation from the Canadian Institute of Actuaries.
  • 10+ years’ experience in a leadership actuarial role.
  • Excellent financial reporting knowledge.
  • Demonstrated leadership, Executive presence and team management skills.
  • Represents the company externally to government agencies.
  • Proven history of creating, growing and sustaining a strong productive team.
  • Excellent analytical and abstract reasoning skills, plus excellent organization skills.
  • Keen strategic thinking, business acumen and problem solving skills.
  • Strong communication, interpersonal and influencing skills across all levels of the organization.
  • Strong service orientation and a drive to make a difference.
  • Ability to anticipate future needs, be proactive and adjust to constant change.