Senior Actuarial Analyst

Actuarial / Actuariat Toronto, Ontario


Position at Northbridge Insurance

“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!

PURPOSE:             

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.  Conducts ad hoc analysis with minimal supervision.  Compiles and analyzes company data for analysis of loss reserves and loss adjustment expense reserve adequacy.  Prepares the necessary documentation for the Appointed Actuary report.


KEY ACCOUNTABILITIES: 

  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 reserves, profitability analysis and financial reporting.
  • 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 the Vice President (i.e. through written reports)

 

  1. Run and modify existing programs, and develop new programs, to perform statistical analysis at an advanced level and access various databases used in the analysis of past experience and implementation of reserve reviews.

 

  1. Research applicable statutes and precedents in order to prepare supporting materials for the preparation of relevant reports for submission to regulatory authorities.

 

  1. Develop reserve recommendations.

 

  1. Prepare the necessary documentation for the Appointed Actuary report.

 

  1. Provide assistance and training to other employees to efficiently use standard actuarial techniques; Supervise/coach actuarial project teams.

 

  1. Other duties as assigned.


SKILL/BEHAVIOUR REQUIREMENTS: 

  • Strong research and analytical skills.
  • Strong interpersonal/coaching skills (interactions with other departments and co-workers).
  • Good communication skills (both oral and written).
  • Ability to explain complex terms / processes in simple language.
  • Team player.
  • Customer-focused.
  • Adaptable/flexible.
  • Ability to think strategically and conceptually.
  • Ability to establish and manage both personal and professional development plans.
  • Good project management skills.
  • Ability to manage multiple projects and deliver results.

QUALIFICATIONS: 

  • Sc. in Actuarial Sciences, or Bachelor or Master’s Degree in Mathematics or a related quantitative discipline preferred or other related degree with major in Actuarial Science
  • Passed at least 5 of the 9 Casualty Actuarial Society exams
  • 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).


WORKING CONDITIONS:
 

  • Indoors in normal office environment with little exposure to excessive noise, dust, fumes, vibrations and temperature
  • Frequent computer use
  • Periodic travel is necessary, frequency and duration may vary by region 

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.