Actuarial Lead - Insurance Actuarial Lead - Insurance

Volkswagen AG • Pickering, ON

55d • $100,000 - $138,000 • Hybrid

About The Position

Volkswagen Financial Services, a wholly-owned subsidiary of Volkswagen Group, is the trusted key to mobility for its brand partners. We are committed to supporting the Audi, Ducati, and Volkswagen brands and their Dealers, specializing in providing accessible mobility solutions for its Customers. The company’s offerings include Retail Leasing, Retail Financing, Commercial Financing for new and used vehicles, and End-of-Term vehicle disposition.Brief Role DescriptionThe 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.

Requirements

• 7 years minimum
• At least 5 years working as an actuary in the Insurance industry and having an ACAS designation
• Bachelor’s Degree in a quantitative discipline: Statistics, Mathematics, Economics, Operations Research
• 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

Nice To Haves

• Desired: 3 years working in Auto Insurance Industry with knowledge of Auto Insurance products.
• Desired: Master’s Degree in related field

Responsibilities

• 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%)

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees