Actuarial Associate - Individual Pricing

Royal Bank of Canada•Mississauga, ON

2d•CA$80,000 - CA$115,000•Onsite

About The Position

This role is accountable for developing, pricing, monitoring, and preserving the integrity of the profitability of our Creditor, Life, Health, and Wealth products. This position supports the attainment of our strategic objectives, including the growth of new lines of business, and greatly influences the brand reputation for RBC Insurance Company.

Requirements

Have achieved the ASA or ACIA designation, and actively pursuing the FSA/FCIA designation.
Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a relevant field.
At minimum 3 years of work experience in an actuarial role.
Excellent working experience with Moody’s Analytics AXIS, and outstanding working knowledge of MS Excel.
Ability to work well in a team and individually, and mentor junior colleagues as needed.

Nice To Haves

Ideal candidates have a strong desire to set and exceed challenging goals with high energy and a drive for superior results.
Successful candidates will demonstrate excellent communication skills with the ability to effectively influence others as well as present issues, options, and recommendations to both technical and nontechnical audiences.
Familiarity with actuarial pricing and valuation methodologies.
Understanding of key regulatory frameworks (i.e., IFRS17, LICAT, etc.).
Proficiency in programming languages (i.e., VBA, R, etc.).

Responsibilities

Perform pricing and product development of Creditor, Life, Health, and Wealth insurance products.
Analyze product profitability, sensitivity, and risk metrics to support strategic decision making.
Prepare & review documentation and reports to communicate findings, assumptions, and recommendations effectively.
Perform & review model vetting of the Creditor, Life, Health, and Wealth pricing models.
Monitor regulatory changes and ensure product compliance with relevant guidelines.
Collaborate with and influence internal business partners, including valuation, product management, project management, corporate underwriting, new business operations, customer service, sales, and finance.
Participate in automation and process improvement initiatives to enhance efficiency and accuracy in pricing workflows.