Manager, Actuarial (Pricing)

SGI • Regina, SK

1d • CA$109,052 - CA$162,859 • Hybrid

About The Position

The Actuarial Manager is responsible for managing a team of actuarial staff, actuarial work and projects. Guides and manages complex actuarial analyses, process development and assumptions. Supports the successful execution and delivery of projects within their team and collaborates on cross-departmental projects. Responsible for developing actuarial sophistication, developing and mentoring their team, reviewing actuarial work, ensuring timelines and deliverables are met.

At SGI, we are committed to a workplace where people feel respected, valued, and able to contribute fully. Through fair, consistent, and transparent people practices, we attract skilled talent with varied lived experiences and offer meaningful work, opportunities for growth, and a strong sense of belonging. Our commitment to reconciliation includes inclusive hiring practices that create meaningful opportunities for Indigenous peoples and support a workforce reflective of the communities we serve. Join us in building a culture where contributions are valued and shared success is shaped by our people.

SGI has offered affordable insurance products and great service to our customers since 1945. SGI has 2 distinct operations — the Saskatchewan Auto Fund and SGI CANADA. The Auto Fund is Saskatchewan’s compulsory auto insurance program, operating the driver licensing and vehicle registration system. SGI CANADA is the property and casualty insurance division which offers products in Saskatchewan, British Columbia, Alberta, Manitoba and Ontario through a network independent insurance brokerages. SGI and SGI CANADA are Crown corporations, owned by the Government of Saskatchewan. Our culture is one of personal accountability, where all of us are empowered to be leaders. We encourage a growth mindset that sees change as an opportunity to learn, innovate and continuously improve. We value respectful collaboration and open communication where your voice is welcome and appreciated. Each of us has a role in SGI and SGI CANADA’s success and we acknowledge everyone’s contributions. We care about each other. We treat one another with kindness and celebrate each person’s uniqueness so we can all be our authentic selves at work. That’s because diversity, equity and inclusion are foundational to our culture and who we are. Different backgrounds and perspectives make for a vibrant and creative community where innovation flourishes.

Requirements

• A four-year degree from an accredited post-secondary education institution in a relevant field of study such as Mathematics and Applied Science.
• ACAS (Associate of the Casualty Actuarial Society) or an ACIA (Associate of the Canadian Institute of Actuaries) designation.
• Eight years' experience comprised of four years leadership and four years in an actuarial role in the applicable product line.
• Knowledge of actuarial methods, statistics and assumptions used in ratemaking and reserving.
• Knowledge of systems, programming, database structures and logic and use of data science and statistical tools such as SAS, R or Python
• Knowledge of the applicable insurance industry and insurance product features.
• Knowledge of regulatory filing requirements and regulatory compliance.
• Knowledge of advanced actuarial concepts/methods within the core discipline.
• Knowledge in loss distributions, quantitative modeling and simulation techniques.
• Knowledge of financial analysis methods, measures and risk management.
• Knowledge of machine learning techniques.
• Skills in quantitative and qualitative analytical capabilities, including critical thinking with strong attention to detail.
• Ability to present and communicate results of actuarial analyses including to non-technical audience at all levels of the organization, including executive level.
• Ability to persuade and influence decisions.

Nice To Haves

• FCIA (Fellow of the Canadian Institute of Actuaries) or FCAS (Fellow of the Casualty Actuarial Society) designation preferred.

Responsibilities

• Manages actuarial investigations and communicates actuarial and technical considerations for actuarial projects.
• Ensures effective collaboration of their team with other departments such as product management, finance, corporate underwriting, corporate claims and operational teams to understand issues and recommend and develop solutions.
• Presents results of their team’s analyses and their own work to SGI management.
• Effectively communicates issues to promote understanding and provide appropriate interpretation and context to the specific audiences.
• Enhances machine learning model building capabilities within the team.
• Discusses and works with regulators to ensure compliance and advocates for decisions in SGIs favour.
• Actively develops actuarial skills and acumen of self and others at SGI.
• Considers impacts of actuarial changes on other divisions, proactively communicating the changes and reasons for them as required.
• Manages timelines for larger projects with multiple stakeholders.
• Ensures that methodologies used conform with actuarial standards of practice in Canada.
• Adheres to all actuarial and regulatory guidance, interprets new guidance and regulatory changes and identifies opportunities which may arise as a result, and educates the team members on changes.
• Reviews the work of their team and peers and provides feedback and coaching.
• Leads a team who uses modern modeling software to develop, modify, and validate highly complex statistical and actuarial models to increase sophistication, ensuring continual enhancement of these models in the team.
• Gathers, manipulates, and validates large amounts of information to solve actuarial business problems and form the basis of decision making.
• Uses sophisticated modelling and statistical techniques to creatively solve complex problems.
• Manipulates and structures data to draw or enable the drawing of in-depth conclusions from the data using various tools such as spreadsheets, databases, and actuarial specific software.
• Performs actuarial analyses to evaluate and quantify risks, including proposing and measuring the impacts of alternatives and mitigations.
• Seeks creative solutions to business problems utilizing statistical modeling techniques and business knowledge.
• Directs the development of solution recommendations for complex issues and delivers the results to senior management and business stakeholders at all levels in the organization.
• Ensures the development, validation, and maintenance of actuarial reports to meet business needs and provide in depth insights.
• Directs the development of complex end-to-end processes from the ground up and identifies and implements improvements to actuarial processes.
• Provides insight and research on solutions for effectively pricing products.
• Manages the development of rating, classification systems and processes for new and existing products.
• Provides input on the structure and pricing of new rating classes or changes to classes and coverages.
• Manages the development of rating structures for new products to produce the most appropriate products for market conditions.
• Proposes changes to rating structures for existing products to improve rating accuracy.
• Ensures profitability for competitive products through setting of rates for products in area of accountability by utilizing actuarial pricing methodologies and competitive strategies.
• Works with the pricing team to analyze, research, develop, and recommend improvements to actuarial rating models, analyses, applications and rating plans.
• Assesses and quantifies the impact that changes to coverages have on product performance.
• Enhances insurance pricing models and assesses model assumptions.
• Oversees the completion and submission of regulatory rate filings, including reviewing and providing guidance on rate filings, complex modelling and assumptions, and preparing complex rate filings.
• Signs rate filings if required.
• Makes pricing decisions around appropriate assumptions, methods, tools, approaches etc.
• Conducts detailed actuarial analyses by analyzing data (indications, filings, competitive analysis), makes appropriate assumptions, communicates results and makes recommendations to the stakeholders.
• Manages and reviews the development of rate indications and relativity analyses.
• Analyzes & monitors the key performance indicators of their portfolio, and reports to leadership as necessary.
• Ensures the correct rates are implemented.
• Manages the gathering and compilation of data required to solve business problems of the following nature: retention, growth, profitability, and competitive positioning.
• Oversees the development and maintenance of tracking reports to measure the level of success of new rating structures.
• Fine tunes new rating structures based on tracking and feedback from business.
• Builds a high performing workforce by actively leading human resource activities.
• Ensures development of divisional succession plans.
• Builds a culture of leadership and accountability to effectively deliver on strategic and corporate strategies, ensuring integration with employee performance development and career development plans.
• Drives performance through team members and is committed to leadership development across the company, supporting employees and workforce readiness through mentoring, training and developmental opportunities.
• Ensures programs and policies are in alignment with corporate, strategic and divisional strategies.
• Manages risk in area of authority.
• Prepares, reviews, manages and/or approves departmental/divisional budgets.
• Prepares decision requests, decision and/or information items and/or SGI board items.
• Ensures that the Health, Safety and Emergency Management Policy is applied in area of responsibility, including development, implementation and managing of program components specific to departmental health and safety requirements.
• Makes decisions for departmental operations that are efficient, effective and in alignment with strategic direction and priorities.
• Ensures department and program policies, procedures and guidelines are in compliance with applicable federal and provincial legislation and regulations; implements and evaluates changes to legislation and regulations in area of authority.
• Establishes and maintains an effective system of internal controls to support reliable financial reporting and compliance in accordance with applicable laws and regulations within the span of control, and communicates the importance of internal controls to staff.

Benefits

• competitive pay
• great benefits, perks and options to balance work and everything else life sends their way
• support for education, accreditation and professional development

What This Job Offers

• Job Type: Full-time
• Career Level: Manager