Actuarial Associate

BMO•Toronto, ON

1d•Onsite

About The Position

Reporting to the Head of Pricing, Wealth Products Pricing, this is an opportunity that allows you to develop your skills and knowledge of Wealth products pricing, including Single Premium Immediate Annuity (SPIA), Structured Settlement Annuity (SSA), and Segregated Fund. Collaborate with cross-functional teams and work on a variety of projects that will keep you engaged and continuously learning.

Requirements

1+ year experience working in actuarial pricing roles.
Experience with relevant software/programming language such as AXIS, Python, and/or other industry modeling software.
Knowledge of Excel including VBA.
Well-developed organizational skills with ability to manage competing priorities.
Effective written and verbal communication skills.
Ability to develop innovative solutions.
ASA or close to ASA designation.

Nice To Haves

Wealth products pricing experience is preferred.
Knowledge of IFRS 17 accounting standards and Canadian Life Insurance Capital (LICAT).
Knowledge of stochastic modeling would be an asset.

Responsibilities

Quarterly new business profitability calculation and reporting for Wealth products.
Pricing of Wealth product initiatives.
Research and implementation of solutions to support and improve Wealth product modeling.
Daily review of SPIA and SSA credited rates and reprice if needed to maintain market competitiveness.
Support special quote requests for Wealth products.
Effective communication and collaboration with internal stakeholders to support the delivery of pricing results.
Partnering with Product, Risk, Valuation, and other teams to identify areas of improvement in Wealth products to support profitable business growth.
Detailed documentation of pricing activities such as assumption selection, pricing approach selection, model changes, etc.
Review and streamline of pricing team’s process to improve efficiency.