Actuarial Advisor

  • 38729
  • Life - Actuarial
  • |
  • Ontario, Canada
  • |
  • Dec 15, 2020
Insurance
RESPONSIBILITIES
  • Conducting in-house actuarial functions which include forecasting, sensitivity analysis, liability estimation, experience analysis, and working with an asset-liability model:
  • Develop actuarial recommendations on funding strategies, risk management, and plan management.
  • Support with actuarial valuations, plan design, funding requirements, board reporting, advocacy efforts, investment issues, gain & loss analysis, and forecasting.
  • Manage actuarial rates and actuarial extracts including buyback assumption for all of plan operations
  • Use actuarial tools and processes to prepare membership data for actuarial valuation and plan design purposes, trending analysis and an overall data integrity framework.
  • Calculate and process identified calculation exception transactions and known calculation errors.
  • Specify and manage calculation and QRM related system checks
  • Assist in the preparation of internally produced actuarial materials for board and committee meetings and support the actuarial advisors in the preparation of Board and Committee presentations, including the annual actuarial valuation report.
  • Review and assess actuarial assumptions and methods used by actuarial advisors, in consideration of the company’s funding, design and pricing objectives.
  • Ensure actuarial accuracy of all publications & communication materials including, but not limited to, client communications, the company’s Annual Report, individual letters, external presentations.
  • Develop an Actuarial Support Data Base for all actuarial assumptions and analysis or procedures to determine assumptions and develop and maintain with the assistance of plan operations training area content for all assumptions
  • Ensure negotiations of new portability agreements with other pension plans are actuarially sound and aligned to company policies and objectives.
  • Monitor and analyse economic environment, peer plans, industry trends and Canadian Institute of Actuaries (CIA) standards, as appropriate, in order to assess potential impact on company and recommend changes to administrative practices and procedures.
  • Maintain and distribute content as required on current industry knowledge through topical literature, seminars & conferences, and ongoing information exchanges with staff, advisors, industry professionals, regulators/legislators, and other pension plans.
  • Represent the section/division on internal committees as appropriate.
  • Apply deep actuarial knowledge and expertise to provide guidance, direction and support to team members. Provide management to the team by mentoring, coaching, development, and providing direction.
  • Collaborate with other divisions of the organization
QUALIFICATIONS
  • University degree, majoring in actuarial science, statistics or mathematics.
  • Associate of the Society of Actuaries (ASA) designation or demonstrated equivalent education/experience.
  • 7+ years of experience in the actuarial area of the pension industry.
  • Sound knowledge of Canadian pension legislation, actuarial standards, valuation methods, actuarial techniques. Proven ability to grasp extremely complex concepts, develop actuarial formulae. Demonstrated expertise in actuarial programming, analysis and reporting is a must.
  • Expertise in managing large data sets through Microsoft Excel and Access and familiarity with a data warehouse would be an asset.
  • Proven communications skills, including the ability to explain extremely technical and highly complex mathematical concepts in lay terms and the ability to prepare board reports.
  • Demonstrated ability to deal with a multiplicity of tasks, set priorities and manage timelines/budgets with minimal supervision.
  • Strong project management, including the ability to manage external vendors.
  • Sound judgement; thorough and logical.
  • Familiarity with economic and demographic experience studies and asset-liability modelling and forecasting would be an asset.