Senior Analyst, Actuary
About The Position
Reporting directly to the Associate Director, Actuary, the Senior Analyst, Actuary will assist with wide-ranging actuarial tasks at UPP. A key area of accountability for the Senior Analyst, Actuary would be providing actuarial support in calculating off-system pension benefit calculations by developing actuarial tools and verifying data and tool functionality. Furthermore, the Senior Analyst, Actuary will have the opportunity to support various initiatives within the Actuary team as well as other key UPP functions such as Engagement and Corporate Finance. The incumbent will regularly communicate with various internal teams (including Legal, Engagement, Pension Services, and Corporate Finance), as well as with external parties from time to time, such as actuarial consulting firms, regulators, lawyers, and other stakeholders. The ideal candidate would be authentic, enthusiastic, and eager to learn. It is important they have exceptional attention to detail and strong mathematical rigor while also maintaining the ability to think broadly and creatively. The Senior Analyst, Actuary should have strong communication skills as they will be working with parties both across the UPP and externally. The candidate would have four to six years of pension actuarial consulting experience at either an actuarial consulting firm or has worked on an actuarial team servicing a large pension plan. Additionally, the ideal candidate is working towards the completion of their actuarial designations (FSA, FCIA), and is familiar with Ontario pension legislation and actuarial standards. This role is based in downtown Toronto in a hybrid work environment, allowing employees the flexibility to work remotely and in-office (minimum two days per week in-office). This posting is for an existing vacancy.
Requirements
- Bachelor’s Degree in Actuarial Science or Mathematics or equivalent
- ASA/ACIA or near completion of ASA/ACIA
- 4 to 6 years of experience in a professional consulting firm environment or other large pension plan performing actuarial valuations, pension administration, and related consulting assignments
- Strong technical proficiency with MS Excel and Office
- Familiarity with Ontario pension legislation, Income Tax Act and CIA standards of practice
Nice To Haves
- Experience building actuarial pension administration tools is an asset
- Experience in interpreting various defined benefit pension plan provisions
- Strong communication skills
- A nimble, flexible, resourceful team player/leader who thrives in a start-up environment
- Ability to work on multiple initiatives in a fast-paced environment
- Excellent interpersonal skills and a positive attitude; able to build positive relationships within the UPP and with external stakeholders
- Demonstrated ability to meet high performance standards and maintain a calm, pleasant demeanor in a fast-paced, deadline-driven environment
Responsibilities
- Manage and contribute to the development and maintenance of pension administration off-system tools for exception handling and audits of the pension administration system while ensuring regulatory compliance and acceptable actuarial standards of practice.
- Communicate technical actuarial concepts internal and external project teams and review specification documents in support of the development of the pension administration system
- Continuously improve the tools through research and analysis on actuarial methods, assumptions, standards, pension legislation, etc.
- Identify and implement innovative solutions to streamline off‑system tools, strengthen administrative controls, and enhance the efficiency of daily processing activities.
- Contribute to the development of a governance framework around the tools developed for pension administration
- Review and resolve escalated calculations that are of a special or complex nature or providing actuarial advice on interpretations of provincial pension legislation or federal pension tax rules
- Reviewing or performing off-system calculations and packages
- Provide accurate and timely information to all stakeholders regarding general and specific provisions of the Plan
- Review plan terms and actuarial standards as they impact calculations where no clear plan rules or prior administration practices exist. Collaborating with UPP legal and Pension Services to gather opinions on precedent setting administration questions and cases
- Actuarial analysis as requested by UPP’s Engagement and Onboarding Teams such as side-by-side comparisons of pension plan provisions, and supporting inquiries on UPP plan funding, risk management, or pension legislation
- Assisting UPP’s Corporate Finance team with the annual preparation of UPP’s annual report and financial statements and external audit requests.
- Supporting monthly updates to UPP’s internal funded status monitoring and liaising with internal or external parties
- Research and preparation of presentation materials on a variety of actuarial topics based on actuarial reports, industry data, and CIA/SOA studies
- Supporting other requests as required. Including analysis and document preparation related to any strategic projects for long-term funding, growth, and sustainability
Benefits
- Defined benefit pension plan
- Flexible hybrid work model
- Paid time off – vacations, personal days and wellness days
- Work remotely up to eight weeks/year
- Comprehensive group benefits including medical, dental, vision, etc.
- Extended paramedical and mental health service coverage
- Health care and lifestyle spending accounts
- Fertility treatments, paid parental leave, and gender affirmation coverage
- Education Assistance program
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What This Job Offers
Job Type
Full-time
Career Level
Senior
