VP, Actuarial Technical Pricing

  • 34252
  • Non-Life - Actuarial
  • |
  • Ontario, Canada
  • |
  • Sep 19, 2018
Insurance
RESPONSIBILITIES
  • Responsible for providing best in class technical pricing expertise by way of forward focused indications and pricing frameworks. This individual is ultimately responsible for all actuarial costing analysis for all personal insurance across the company.
  • Collaborates with international colleagues to leverage ideas and methodologies that are successful in other jurisdictions to improve our understanding of the Canadian business.
  • Works in close collaboration with other areas of the business such as Corporate Actuarial, Claims, Finance, Analytics, Underwriting and Government Relations to develop a deep understanding of company’s personal insurance business and reflect key data and emerging trends into our pricing models.
  • Works closely with the analytics team to bring to market sophisticated pricing models including machine-learning as well as dynamic market models.
  • Provides regular information and insights to senior management as to the forward looking performance of our business.
  • Continually researches and implements new and improved costing techniques to more quickly and accurately understand our future Personal Insurance costs.
  • Ensures the business has a deep understanding of performance in each region/segment to direct action, influence priorities and identify opportunities and threats to pricing performance.
  • Accountable for leading a monitoring and insights team which evaluates the performance of each region/segment on an ongoing basis, delivering accurate and timely data on our personal insurance book to ensure we are delivering desired results as well as addressing factors that are impacting profitability.
  • Leads a competitive intelligence team which monitors the business relative to the market, enabling the pricing team to determine key actions that will drive profitability and our competitive edge. Maintains an understanding of competitor positioning and integrates this knowledge into pricing recommendations.
  • Responsible for leading and motivating a team of actuarial professionals to achieve outperforming results. This includes supporting their professional development and the overall professionalism of the work performed by the actuarial pricing team.
  • Manages relationships with various internal and external stakeholders such as Underwriting, Analytics, Claims, Reserving, Finance, Distribution and Provincial Regulators. Strong relationship building and negotiation skills are required.
  • As a key partner with our Government Relations team will provide analysis to understand the impact of current and future regulations, including providing recommendations for and scenario testing of various regulatory reforms.
  • Responsible determining the financial impacts of past and future pricing decisions and providing information and recommendations to senior management.
  • Leads the team providing actuarial input into the company’s annual business plan.
QUALIFICATIONS
  • Undergraduate degree in actuarial science, mathematics, statistics, economics, finance, or other related field or equivalent experience.
  • Fellow of the Casualty Actuarial Society.
  • 7-10 years of relevant pricing experience.
  • Market reputation for deep expertise in Technical Pricing.
  • Knowledge of regulatory environment and provincial rate filing requirements.
  • Proven management capabilities and strong analytical skills.
  • An understanding of reserving, finance, accounting, investment and insurance principles.
  • Ability to think long term strategically and operationally.
  • Strong ability to influence stakeholders and drive decisions to improve business outcomes.
  • Budgetary control.