Actuarial Analyst, NALIA Actuarial

Insurance Toronto, Ontario


Description

The Actuarial Analyst, NALIA Actuarial is part of the NALIA Actuarial team working closely with actuarial staff in a dynamic and challenging environment.  As part of the NALIA Actuarial team, the Actuarial Analyst will be involved in Canadian IFRS and US Statutory valuation reporting, business plan, and other financial reporting functions in support of NALIA business objectives and the Appointed Actuary.

The incumbent will gain exposure across a wide range of actuarial disciplines including financial modeling, solvency requirements, valuation and management reporting, insurance/annuity products and fraternal benefits analysis for Canada and the U.S.  He or she will gain experience working with comprehensive financial modelling systems that utilize a variety of actuarial, spreadsheet, database, and reporting software.

 Key responsibilities/accountabilities

  •  Production and analysis of quarterly actuarial valuations and working with the Model team to ensure the accuracy of these liabilities on a Canadian IFRS and/or US Statutory basis of accounting.
  • Production and analysis of management reports for the division, including Earnings by Source, MD&A commentary, reserve and PfAD movement, valuation assumption changes, and ALM/earnings sensitivities.
  • Implementation of new products and new regulations into the valuation and other department processes under guidance of senior staff. This involves understanding the characteristics and the valuation implications of new/modified products or regulations.  Coordinate such changes with the Model team as required.
  • Preparation of annual experience studies and non-guaranteed elements along with resultant recommendations.
  • Preparation of regulatory filings including those for OSFI and NYDFS
  • Other accountabilities can include supporting roles in the following areas:
  • Provide technical support for work for other department responsibilities such as business planning, DCAT, MCCSR/LICAT, Guideline E-18 testing, and quarterly rollforwards.
  • Assists Corporate Finance and Appointed Actuary with audits, regulatory reviews and peer reviews.
  • Prepare appropriate documentation consistent with professional actuarial standards and in compliance with all applicable legislation. Research and identify appropriate standards and legislation and contribute to the interpretation of these.
  • Project support as required.
  • Work collaboratively with actuarial and other peers in various departments across Foresters.
  • Develop knowledge of Company policy, professional standards of practice and codes of conduct, and the regulatory requirements of the jurisdictions in which NALIA operates.
  • Develops knowledge of current and emerging accounting and actuarial standards of practice, industry practices and applicable legislation for Canada and the U.S.

 

Key qualifications/competencies

  •  Currently writing Society of Actuaries exams with the intention of achieving the FSA & FCIA designations.
  • Work experience in the life insurance industry would be an asset, including experience in financial products such as life insurance, annuities, and segregated funds for both Canada and the U.S.
  • Knowledge of various computer systems. These include the business modeling and valuation system (e.g. AXIS), and Microsoft Office software (e.g. Excel, Visual Basic).
  • Developing knowledge of Canadian and U.S. valuation and solvency regimes.
  • Developing knowledge of professional standards, regulatory laws, regulations and guidance issued by the Canadian Institute of Actuaries, the Society of Actuaries and the American Academy of Actuaries, including standards of practice and professional standards.
  • Strong time management skills and ability to multi-task and respond to evolving organizational needs.
  • Excellent analytical skills.
  • Self-motivated and eager to learn.
  • Strong personal accountability. Results and impact-oriented.
  • Excellent writing and communications skills.

Foresters is committed to supporting diversity and accessibility. If you require an accommodation throughout the recruitment process, we will work with you to meet your needs.