Job description:
Brief Role Description The role of the Actuarial Lead - Insurance is responsible for providing all actuarial inputs for income recognition for actual and forecast models. He/she will be responsible for providing Regular updates on Loss curves vs. priced. Perform comparison of actual to priced loss ratios on a quarterly basis. Understand and support the IFRS 17 changes related to Insurance products.
Position level: 10
Reports: Senior Director, Finance Insurance NAR
Role classification: Hybrid
Contract: Maternity Leave replacement
Possible Tasks within this Role - Support the implementation of IFRS 17 for the insurance products.(30%)
- Understand and provide effective challenge on Pricing and Reserve calculation for Auto Insurance products.(20%)
- Collaborate with the Risk Management Planning and Reporting Group, Accounting and senior management in establishing adequate loss provisions for Insurance products.(10%)
- Engage with CFO, VP of Finance and Chief Risk Officer, Accounting, Risk Management, Brand executives and external auditors to gain acceptance on the loss and reserve forecasts. Provide technical and operational support to auditors to ensure successful audit close.(10%)
- Be able to extract data from data warehouse for Insurance products and perform analysis on upcoming issues/trends.(10%)
- Providing all actuarial inputs for income recognition for actual and forecast models .(10%)
- Regular updates on Loss curves vs. priced. Perform comparison of actual to priced loss ratios(10%)
Profile description:
Qualification requirements Years of experience
- 7 years minimum
- At least 5 years working as an actuary in the Insurance industry and having an ACAS designation
- Desired: 3 years working in Auto Insurance Industry with knowledge of Auto Insurance products.
Education
- Bachelor’s Degree in a quantitative discipline: Statistics, Mathematics, Economics, Operations Research
- Desired: Master’s Degree in related field
Specialized Skills
- Support a robust pricing and/or reserving review process for insurance business, including both standard actuarial techniques and advanced modeling
- Develop indications and communicate them to Actuarial Management and Senior Leadership
- Work collaboratively as a part of the broader Pricing and/or Reserving process
- Develop and communicate business analytics to Senior Leadership
- Foster innovation within the team and across the broader organization
- Support development of themselves and other associates in an actuarial capacity and according to VCI vision and mission statement
Work Flexibility
- Minimal travel – 5%
- Flexibility to work remotely on as-needed basis
- Role may require occasional/seasonal work outside of normal working hours.
Salary range is dependent on factors such as industry-based experience, skills, training, credentials, and other qualifications. The salary range for this role is $100,000 - $138,000. Actual pay may vary based on experience, education, and internal compensation practices.
This posting represents an existing vacancy that we are actively seeking to fill.
