2027 Insurance – Winter, Pricing, Actuarial Intern (4-16 months)

RBC•Mississauga, ON

23d•Onsite

About The Position

RBC Insurance, through its operating entities, provides a wide range of travel, life, health, home, auto, wealth and insurance products and solutions. Also, it offers creditor and business reinsurance services to both individual and group clients. We are one of the largest insurance companies within a Canadian bank and among the fastest growing insurance organizations in the country. RBC Insurance employs more than 3,200 employees around the globe and is the brand name for the insurance operating entities of Royal Bank of Canada. As an Actuarial Co-op Student, you will receive an excellent opportunity to gain hands-on experience with real-world business problems, be challenged to resolve complex tasks, and provided with valuable on-the-job training. This role will offer you an exciting opportunity to be part of the largest bank owned insurance company in Canada; you will apply, enhance, and develop experience and working knowledge to perform a combination of challenging tasks and operational assignments. RBC Insurance offers a very inclusive team that works cohesively together, which is integral to the success of continuing to grow all lines of business. We commit to formally structured access to leaders across our actuarial teams, and other business areas, to ensure you are learning all aspects of insurance and are prepared for a successful and rewarding career.

Requirements

Knowledge of MS Office Suite
Solid technical and analytical skills with strong problem-solving ability
Strong written and verbal communication skills
Highly motivated self-starter and team player
Must be returning to school after the work term end-date; or If you are not returning to school (i.e. are graduating immediately after the work term), you must require the full work term as a mandatory component to graduate successfully

Nice To Haves

Pursuing a university degree in Actuarial Science, Finance, Statistics, or Mathematics
Actuarial exposure/background
2-3 CAS/SOA exams completed
Previous experience with Moody’s/GGY AXIS
Knowledge of IFRS17, predictive analytics and Tableau are definite assets
Programing experience in R, VBA and SQL

Responsibilities

Learn, influence, and innovate end-to-end aspects of the business ranging from sales to pricing and valuation to risk & capital.
Creating pricing and valuation models for complex and high-impact products from an actuarial perspective including but not limited to asset strategy discussions with RBC Insurance Investment team and liability cash flow management with RBC Risk Management.
Assist in validation of key assumptions, gathering and applying market competition, and using business insights to identify trends/opportunities.
Using software like AXIS, R, SQL and MS Excel to produce and analyze results, communicate findings to respective stakeholders to obtain their approvals.
Develop, maintain, and enhance new and existing tools to better streamline processes.
Collaborate with fellow actuarial and non-actuarial colleagues to achieve success.
Conduct monthly/quarterly valuation reporting and communicate results and findings to management.
Model and analyze Special Quotes to better serve our clients’ needs.
Support monthly/quarterly capital measurement analysis and reporting.