Actuarial Associate

  • 35194
  • Life - Actuarial
  • |
  • Ontario, Canada
  • |
  • May 15, 2019
Insurance
RESPONSIBILITIES
  • Ensure that actuarial liabilities are calculated in accordance with the valuation assumptions. Monitor potential changes to standards and accounting practices, understanding the potential impact of such change on the company business.
  • Provide actuarial expertise in developing product pricing assumptions and assistance in design for new and revised products.
  • Implement enterprise risk management controls and monitor various business risks, both internal and external to the organization. Provide regular reports to the Chief Risk Officer in this regard.
  • Provide actuarial expertise in financial forecasting for use in strategic planning and sensitivity testing. Recommend forecasted actuarial assumptions.
  • Ensure that capital requirement calculations are in compliance with regulatory guidelines. Monitor potential changes to such requirements, understanding the impact of such change on company business.
  • Analyze the appropriateness of dividend scales and prepare recommendations to the Appointed Actuary for adjustments to incorporate ongoing experience.
  • Ensure that administrative procedures and systems comply with policyholder tax legislation requirements. Research the impact of changes in such legislation on the company’s business. Provide actuarial expertise in developing and testing processes to comply with any such changes.
  • Monitor accuracy of reinsurance administration practices, processes and systems. Implement change processes to reinsurance systems as warranted.
  • Oversee the generation of experience studies on expenses, lapses, mortality and asset defaults. Use the results of these studies to recommend valuation assumptions, as well as to develop dynamic capital adequacy testing scenarios.
  • Research and provide input on reports required by regulators and management on a monthly, quarterly and annual basis.
  • Ensure the integrity of various actuarial computer systems.
  • Other duties as assigned.
QUALIFICATIONS
  • Solid understanding of actuarial techniques and their application to individual life insurance and wealth management products, particularly for reserving, pricing, dividend setting, policyholder taxation and risk management purposes.
  • In-depth knowledge and experience with GGY’s AXIS and TAI’s reinsurance systems.
  • Strong analytical skills.
  • Persuasive written and verbal communication ability.
  • High level of personal integrity and self-accountability.
  • Minimum 10 years’ actuarial experience in Life Insurance.
  • University degree in actuarial mathematics or a related field.
  • Attainment of Associate of the Society of Actuaries and /or Associate of the Canadian Institute of Actuaries designations.