Actuarial Consultant-economic Capital

Job ID : 8206

Working Business Language : English; this role will be required to communicate with both internal and external stakeholders across Canada where the main business language for this role is English.

Salary : At Wawanesa, salary is only one component of a holistic, comprehensive and competitive offering that we provide to our employees.

In addition to salary, full-time and part-time permanent employees are eligible for an annual bonus plan, leave of absence top-up programs and provided with generous vacation time, personal days, premium free benefits and pension plan.

The salary offered for this role is determined with consideration to various factors, including but not limited to : your work location, local labour market conditions, external market salary data, internal pay equity and the knowledge, skills, experience and anticipated proficiency in the role.

The salary offered is estimated to be within the following range : $90,000- $140,000. Candidates with salary expectations outside of the range are still encouraged to apply.

About Us

At Wawanesa, we're proud to offer a hybrid work environment that offers flexibility to our employees in balancing in-office (2 days per week OR 15 hours per week in a Wawanesa office) and remote work.

You may work from any of the following locations : Winnipeg, MB; Vancouver, BC; Calgary, AB; Edmonton, AB; Toronto, ON; Kitchener, ON;

Ottawa, ON; Montreal, QC; Moncton, NB; Dartmouth; NS

The Wawanesa Mutual Insurance Company ("Wawanesa Mutual"), founded in 1896, is one of Canada's largest mutual insurers, with over $3.

5 billion in annual revenue and assets of $10 billion (CAD). Wawanesa Mutual, with its National Headquarters in Winnipeg, is the parent company of Wawanesa Life, which provides life insurance products and services throughout Canada, and Western Financial Group, which distributes personal and business insurance across Canada.

Wawanesa proudly serves more than 1.7 million members in Canada, and we are home to more than 3,600 employees distributed across the Canadian regions and communities where we operate.

We give back to organizations that strengthen communities, donating more than $3.5 million annually to charitable organizations, including over $2 million annually in support of people on the front lines of climate change.

To learn more visit wawanesa.com.

We are currently looking for dedicated, driven, and enthusiastic individuals who thrive in an environment that welcomes change and are looking for an opportunity for diverse experience and advancement on a growing team.

Job Overview

Working with a high degree of autonomy, the Actuarial Consultant is responsible for leading the development of best practices integration into processes and methods and used by the Economic Capital modelling team.

The successful candidate will have a unique opportunity to utilize their strong technical skillset and build business acumen to support strategic initiatives, business processes and regulatory requirements.

They will mentor actuarial analysts while applying their knowledge to complex actuarial analysis in the pursuit of solving business issues and answering business questions.

Working with a high degree of autonomy, the Actuarial Consultant is responsible for leading development of best practices integration into processes and methods used by the actuarial team.

They will mentor actuarial analysts while applying their knowledge to complex actuarial analysis in the pursuit of solving business issues and answering business questions.

Job Resonsibilities

Economic Capital Modeling

• Supports the development and maintenance of the company's Economic Capital Model to meet business needs and support the Own Risk and Solvency Assessment ("ORSA").
• Performs various Economic Capital Model analysis including result validation and production of reports and presentations.
• Supports integration of the Economic Capital Model into various applications including pricing, risk management, capital allocation, etc.
• Leads research and monitoring of best practices and methodologies related to capital modeling and recommends enhancements.

Stress and Scenario Testing

• Supports the identification and development of scenario narratives ensuring stress testing is conducted in accordance with regulatory guidelines.
• Performs stress testing analysis including the production of reports and presentations.

Analytical

• Researches, extracts, and manipulates complex data from relevant sources, and assesses data quality.
• Supports the business and overall team by performing analyses / reviews and completing ad-hoc requests / special projects in a timely manner with minimal support from peers and leaders.

Process Improvement / Efficiency

• Identifies opportunities for automation of routine tasks and implementation of advanced techniques while ensuring ethical and responsible application of solutions.
• Develops new approaches to problem solving and assess impacts of solution options with minimal support from leaders.

Industry

• Identifies emerging industry trends and analyzes the impact they will have on Wawanesa.
• Encouraged to represent Wawanesa at external events that may include universities, actuarial clubs, industry organizations, and charitable causes.

Commitment to Learning

Commits to professional development and continuous experiential learning to build cross-functional knowledge, technical skills, and mastery in competencies.

Project Management

Leads projects from beginning to end. Includes implementation of final product. May include training and documentation of the project.

Coaching & Developing Others

Provides feedback, instruction, and development guidance to help others excel in their current or future job responsibilities.

Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, or other related discipline
• More than four years of actuarial experience an asset
• 7 CAS exams or ACAS designation an asset
• Advanced oral and written communication skills, demonstrating the ability to convey business terminology and insights that are meaningful and well received
• Ability to clearly document major projects and key processes
• Effective at comfortably communicating analysis and results to senior leaders in written and / or oral form, and influencing direct leader to accept recommendations
• Discusses ideas in terms familiar to colleagues in different functional areas and teaches the necessary actuarial concepts when needed.
• Proficient with Excel, SQL, R, Python and / or other related software / programming languages / actuarial software.
• Experience with capital modelling software (e.g., Risk Explorer, Igloo, Tyche) and reserving platforms (e.g., Arius, ResQ) an asset.
• Ability to easily adapt to new enterprise system environments.
• Ability to identify areas for improved efficiency and suggest solutions.
• Advanced knowledge of actuarial science, mathematics, probability, statistics, principles of finance and business, and strong ability to apply this knowledge to problems in insurance
• Ability to develop efficient and viable solutions to problems and assess impacts of these solution options.
• Strong attention to detail when performing analysis with minimal technical errors.
• Ability to identify errors and areas of concern that may significantly impact analysis.
• Ability to peer review through reasonability checks.
• Ability to balance materiality / efficiency and accuracy / detail.
• Ability to prioritize and complete multiple concurrent assignments, both individually and as a leader of a group, in a timely manner while proactively keeping leader informed of progress.
• Develops timelines for project plans.
• Ability to work efficiently and co-operatively in a team environment.
• Ability to respectfully challenge status quo.
• Seeks input from others to get stronger results.
• Keeps abreast of current industry and professional standards and applies them directly to requirements and decisions.

Wawanesa is proud to be one of Manitoba's Top Employers, a Kincentric Best Employer in Canada and a Forbes Best Employer in Canada recognizing an exceptional place to work!

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