Actuarial Model Actuary
The Co-operators
Regina, SK

This role operates in English.

The work location for this role is flexible to Burlington, ON or Regina, SK.

The Actuarial Model Actuary is responsible for IFRS17 actuarial model design, development, testing and implementation using GGY AXIS; and integrate IFRS17 with current actuarial model functions, such as SOE, DCAT, LCAT. This role requires experience in the following areas: pricing and valuation of life insurance products, experience studies, development of actuarial assumptions, sources of earnings analysis, dynamic capital adequacy testing, adverse scenario stress testing, LICAT reporting, and other actuarial tasks involving financial projections. As such, extensive experience with life insurance products and how they are modelled in the GGY AXIS system is required.

What you’re responsible for:

  • Research, design, develop, test and implement IFRS actuarial models for various lines of business using current best practice for models.
  • Coding in GGY AXIS including transfer of data from the administration systems through Datalink, and optimization of the setup of AXIS cells and AXIS production runs.
  • Provide direction and guidance on finalizing IFRS 17 policy decisions through testing of actuarial models.
  • Develop, test and implement processes for the flow of data between the administration systems, the valuation systems, and financial reporting systems, including validation for accuracy.
  • Work closely with IT to communicate data requirements and resolve issues, if any.
  • Support ongoing efforts to improve model governance and model risk management functions.
  • Keep up to date model documentation, procedures and process on work performed.
  • Maintain actuarial models (used in CALM valuation, ALM, DCAT, planning & budgeting, LICAT, …) up to date with new standards of practice, regular updating of assumptions, new products and system enhancements.

To be successful:

  • You have an innovative mindset to improve operational efficiencies and ability to influence change, with a primary focus on client needs.
  • You use critical thinking skills to recognize assumptions, evaluate arguments, draw conclusions and proactively propose solutions.
  • You have strong communication skills to clearly convey messages and explore diverse points of view.
  • You build trusting relationships and provide guidance to support the development of colleagues.

To join our team:

  • Bachelor’s degree and five (5) years related experience.
  • Fellow of the Society of Actuaries (FSA) or equivalent designation preferred.
  • Proficiency in actuarial software, AXIS/Datalink, Excel, MS Access and familiar with VBA.
  • In-depth understanding of Canadian life insurance financial reporting and financial statements.
  • A good understanding of IFRS17 would be an asset.

What we offer:

  • Training and development opportunities to grow your career with one of Canada’s Best Employers.
  • Flexible work options and paid time off to support your personal and family needs.
  • A holistic approach to your well-being, with physical and mental health programs and a supportive workplace culture.
  • Paid volunteer days to give back to your community.
  • A comprehensive total rewards package, including competitive salary, bonus, pension and benefits.

Job Type: Full-time