Lead Actuarial Analyst (Contract)

Actuarial / Actuariat Toronto, Ontario

“The Power of Together”

Join Northbridge, a growing dynamic company that has a long and rich Canadian history in providing innovative insurance solutions to customers nationwide.

Northbridge Financial Corporation is a leading commercial property and casualty insurance company that’s been helping protect Canadian businesses for more than 90 years. We’re 100% Canadian!

We offer a wide range of creative solutions to our customers through our Northbridge Insurance, TruShield Insurance and Federated Insurance brands where we strive to create a fair and friendly culture, upheld by the foundation of our five corporate values: respect, passion, connectedness, creativity, and excellence.

By continually striving to challenge the status quo, and by focusing on helping the customers we have the privilege of insuring achieve the possibilities of their business, we’ve been able to build our reputation as one of Canada’s largest commercial insurance providers.

To help us continue to build on this success, we’re committed to attracting, developing and retaining the best people.

Be part of a team that’s passionate about making a difference every day, fuelled by our entrepreneurial spirit and where everyone owns a part of our success. Our company has had an amazing journey so far, and our future is full of new possibilities!

Located in the heart of Toronto’s Financial District, our head office is easily accessible by TTC and GO Transit, and within walking distance to the Eaton Centre, Air Canada Centre, Rogers Centre, and CN Tower. As a national property and casualty commercial insurance provider, we also have offices across Canada.

Position Summary 

This position is accountable for the acquisition, analysis, and evaluation of company and industry data to determine reserve adequacy, and oversee the development of reserve reviews and actuarial financial reporting. The incumbent will manage analysis with minimal guidance; compile and analyze company data for analysis of loss reserves and loss adjustment expense reserve adequacy.  He or she will prepare the necessary documentation for the Appointed Actuary report.

What you will be doing:

  1. Responsible for the analysis of premium and loss data, using standard actuarial techniques, to determine reserve adequacy.
  • Compile and analyze company data for reserve analysis
  • Develop and verify sources of data for analysis through the development of computer programs, or program specifications, to ensure that data used in analysis is sufficient, current, and accurate.
  • Develop, implement, and maintain mathematical models and simulations to analyze corporate loss reserve adequacy and financial condition of the company.
  • Develop and enhance the reserve review processes.
  • Develop and present reserve proposals that are in line with business/strategic directions set by senior management.
  • Communicate results of various analyses to manager (i.e. through written reports)
  1. Support other areas of the company with respect to financial reporting/management reporting.         
  2. Research applicable statutes and precedents in order to prepare supporting materials for relevant reports submitting to regulatory authorities.
  3. Develop reserve recommendations.
  4. Prepare the Appointed Actuary report, DCAT report and other regulatory requirements.
  5. Provide assistance and training to other employees to efficiently use standard actuarial techniques; supervise/coach actuarial project teams.
  6. Keep an updated knowledge of industry and regulatory requirements.
  7. Other related duties as assigned.

What we are looking for:

  1. Excellent research and analytical skills.
  2. Strong interpersonal/coaching skills (interactions with other departments and co-workers).
  3. Strong communication skills (both oral and written).
  4. Ability to explain complex terms / processes in simple language.
  5. Team player.
  6. Customer-focused.
  7. Adaptable/flexible.
  8. Ability to think strategically and conceptually.
  9. Ability to establish and manage both personal and professional development plans.
  10. Ability to influence decisions and gain agreement and/or support on sensitive issues
  11. Identify potential risks/problems and provide solutions.
  12. Strong project management skills.
  13. Ability to manage multiple projects and deliver results.

What sets you apart:

  • B.Sc. in Actuarial Sciences, or Bachelor or Master’s Degree in Mathematics or a related quantitative discipline preferred.
  • Designation of Associate of the Casualty Actuarial Society (ACAS)
  • A minimum of 5-7 years of experience in the insurance industry.
  • Solid working knowledge of legal statutes regulating the insurance industry.
  • Working knowledge of advanced mathematical theory and mathematical programming languages.
  • Working knowledge of rate-making and/or reserving policies and procedures.
  • Working knowledge of data processing systems and programming (conceptual rather than technical emphasis).
  • Knowledge of insurance products and the insurance distribution process.
  • Computer literate (PC and Mainframe; SAS, Word, Excel, VBA an asset).

Application Process:

Northbridge welcomes and encourages applications from people with disabilities. Accommodations are available upon request for candidates taking part in all aspects of the selection process. Interested, qualified candidates are encouraged to apply below.

All offers of employment are conditional upon satisfactory background and reference checks, including a criminal record check, credit check, and employment and educational verifications.