Actuary Manager (FSA) - Fixed Annuity Projections
About The Position
Pacific Life Re is seeking a talented senior level actuary (FSA) to join their Enterprise Valuation Fixed Annuity Projections team in Toronto, ON. This role follows a hybrid schedule. As a qualified actuary, you will be primarily responsible for leading, planning and executing actuarial projections for fixed annuities with accountability for decisions, outcomes and impacts of those projections. This role provides a unique opportunity to develop expertise in both individual and group fixed annuities by providing support across two other teams within the fixed annuity projections function. This support will include traditional actuarial exercises such as asset adequacy testing and C3-Phase I along with more modern concepts such as economic reporting and offshore reinsurance as well the ongoing modernization effort of those long-standing regulatory exercises. You will fill an individual contributor new role that sits on a team with 2 team leaders; however, you will also provide direct support to those two team leaders. Your colleagues will include both fully remote and hybrid team members.
Requirements
- FSA with 6+ years of related actuarial experience
- Bachelor's degree
- Experience with asset and liability projections
- Strong stakeholder management and interpersonal skills
- Excellent quantitative, analytical and problem-solving skills
- Innate curiosity and attention to detail
- Ability to translate technical concepts to non-technical audiences effectively in both verbal and written communication
Nice To Haves
- Background in statutory reserving and a familiarity with principles related to market consistent embedded value
- Technical proficiency in the actuarial modeling software Prophet, Snowflake/SQL as a database solution, visualization tools such as Tableau or Power BI and automation software such as Python, VBA or R.
- Prior experience in actuarial valuation and/or projections for both fixed deferred annuities (e.g. Fixed Indexed Annuities, Multi-year Guaranteed Annuities, etc.) and fixed payout annuities (e.g. Single Premium Immediate Annuities, Deferred Income Annuities, Structured Settlements, Pension Risk Transfer, etc.)
Responsibilities
- Support the timely and accurate preparation of the Actuarial Opinion and Memorandum on Asset Adequacy Testing, C3 Phase I scenario testing, economic reporting and all other projection reporting in accordance with regulatory, or internally defined, requirements as applicable
- Lead and develop the consolidation of the operating model between both the individual and group fixed annuities projection processes
- Consolidate and eliminate redundancy across shared tasks including but not limited to data aggregation, attribution analysis, memorandum, dashboard and presentation material
- Become a subject matter expert in regard to the fixed annuities actuarial projection models including their pre and post processing workflow
- Develop and translate model enhancements into business requirements through analysis as well as perform testing and validation of those enhancements
- Maintain proper controls and processes consistent with Model Risk Management (MRM) guidance
- Produce and/or help review reports/analytics supporting actuarial projection exercises and take initiative to streamline those reporting processes
- Collaborate with colleagues across the function and beyond; interact closely with team leaders and senior management, build strong relationships and seek out to provide actuarial interpretation and expertise to others
- Communicate effectively with various audiences of diverse educational backgrounds ranging from new hires to actuarial and non-actuarial senior management
- Maintains awareness of new product activities and regulatory changes and support their implementation
- Develop tools to enhance model efficiency and analytics in relation to inputs, computation and outputs
Benefits
- 23 days of annual leave (Regular employees) with option to buy or sell more days
- Fertility leave
- Generous parental leave
- Group Life Insurance and Accidental Death & Dismemberment coverage for all permanent employees
- Dental & Optical benefits
- RRSP: company-matched contributions
- Employee and Family Assistance Program
- Subsidized gym membership
- Time off for volunteering
- Charitable matching of employee donations
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What This Job Offers
Job Type
Full-time
Career Level
Senior
