Senior Director, Actuary

University Pension Plan•Toronto, ON

2d•Hybrid

About The Position

Reporting to the Managing Director, Actuary, the Senior Director, Actuary will play a leadership role in supporting UPP’s actuarial function and advancing the Plan’s funding, risk management, and strategic objectives. UPP’s actuarial team supports both the Plan’s core actuarial functions and provides actuarial support to Pension Services in areas such as employer onboarding, complex pension administration matters, and interpretation of plan provisions. This role will work closely with the Senior Director responsible for pension administration support to ensure coordinated actuarial oversight, consistent application of actuarial methodologies, and integrated delivery across actuarial and pension service activities. The Senior Director, Actuary will provide actuarial expertise and analysis related to pension funding, valuation, demographic trends, and long-term sustainability within a jointly sponsored pension plan environment. The role will work closely with internal stakeholders, external actuarial advisors, and governance bodies to ensure that actuarial insights appropriately inform funding decisions, investment considerations, and strategic planning. The successful candidate will bring deep technical actuarial expertise, strong leadership capabilities, and demonstrated experience within a large defined benefit pension environment, ideally within a jointly sponsored pension plan structure. The ideal candidate is collaborative, pragmatic, and capable of communicating complex actuarial matters clearly to both technical and non-technical audiences. 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

Graduate or Bachelor’s degree in actuarial science or statistics from a recognized university
A Fellow of the Canadian Institute of Actuaries and/or other relevant industry designation, preferably SOA
12+ years of progressive actuarial experience within pension consulting, a pension plan sponsor environment, or a large defined benefit pension organization.
Demonstrated experience working with jointly sponsored pension plans (JSPPs) or comparable multi-stakeholder pension arrangements.
Proven experience leading complex actuarial valuations, funding analyses, and strategic actuarial initiatives.
Advanced expertise in ProVal, including development and maintenance of actuarial valuation models, assumption management, scenario testing, and funding analysis for large defined benefit pension plans.
Strong knowledge of: Canadian pension legislation and regulatory frameworks, CIA standards of practice, Pension funding requirements, Accounting standards applicable to defined benefit pension plans
Experience advising senior leadership and governance bodies on actuarial and funding matters.
Strong understanding of pension risk management and the interaction between funding and investment considerations.
Excellent communication and stakeholder management skills, with the ability to present complex actuarial concepts clearly and effectively.

Nice To Haves

Experience within the university sector or broader public sector pension environment is considered an asset.
Experience supporting pension plan growth initiatives, mergers, or asset transfers is considered an asset

Responsibilities

Support the Managing Director, Actuary in the oversight and execution of UPP’s actuarial strategy and funding analysis framework.
Lead actuarial analysis related to pension liabilities, funding projections, contribution requirements, demographic experience, and risk assessments.
Provide actuarial advice and decision-support analysis to senior leadership, governance committees, and plan sponsors on matters related to funding, plan sustainability, and actuarial risk.
Review and assess actuarial assumptions, methodologies, and valuation results to ensure appropriateness and alignment with the Plan’s long-term objectives.
Contribute actuarial insights to strategic discussions involving investment assumptions, funding policy considerations, and long-term financial sustainability.
Lead the development and enhancement of UPP’s internal liability measurement, modeling, and actuarial analytics capabilities to support timely and decision-useful funding insights.
Partner closely with the Investment team to support the integration of actuarial considerations into UPP’s risk appetite framework, investment strategy discussions, and Asset Liability Management (ALM) analysis.
Contribute actuarial expertise to the assessment of funding risks, liability characteristics, and long-term sustainability considerations in support of total portfolio management objectives.
Support preparation of materials and analysis for the Board of Trustees, Investment Committee, Sponsors Committee, and other governance bodies, as required.
Collaborate with external actuarial advisors and other professional service providers to support actuarial valuations, special projects, and regulatory filings.
Assist in evaluating the actuarial implications of proposed plan changes, legislative developments, and evolving pension industry practices.
Support the ongoing alignment between UPP’s funding policy, benefit framework, and investment objectives.
Support compliance with applicable pension legislation, actuarial standards of practice, and regulatory requirements.
Assist with the preparation and review of actuarial reports, UPP annual report, disclosures, and regulatory filings.
Monitor emerging actuarial, accounting, and regulatory developments and assess implications for UPP.
Support UPP’s strategic growth and engagement initiatives by working closely with the Engagement Team to provide actuarial insights, analysis, and guidance related to prospective participating employers and new plan entrants.
Assess the actuarial and funding implications associated with new joiners, including demographic characteristics, benefit structures, funding impacts, and long-term sustainability considerations.
Contribute actuarial expertise to due diligence activities, stakeholder discussions, and transition planning associated with plan growth opportunities.
Collaborate with internal stakeholders to support the development of clear, accurate, and decision-useful materials for prospective employers and sector partners considering participation in UPP.
Build and maintain effective relationships with internal stakeholders, external advisors, plan sponsors, and industry peers.
Participate in pension industry associations and working groups to remain informed of emerging trends, regulatory developments, and best practices.
Support collaboration and knowledge-sharing across the broader JSPP and pension community.
Provide leadership, mentorship, and technical guidance to members of the actuarial team.
Support talent development, succession planning, and continuous improvement initiatives within the actuarial function.
Promote best practices in actuarial modeling, governance, documentation, and internal controls.
Contribute to a collaborative, inclusive, and high-performing team culture.