Actuarial Analyst

Facility Association; Toronto; On-site; CAD 70,000 - 90,000; Full time

Job summary

A leading insurance organization located in Toronto is seeking an Actuarial Analyst. The successful candidate will contribute to analyses for financial forecasting and collaborate with various teams to support strategic objectives. Applicants should have a degree in actuarial science or related fields, relevant experience in the insurance sector, and proficiency in analytical tools. This is a full-time mid-senior level position offering the opportunity to enhance decision-making processes within the organization.

Qualifications

• University degree in actuarial science, mathematics, statistics or related field.
• 2+ CAS exams / 1 ACIA module or progress towards an actuarial designation are beneficial.
• At least one year of experience in relevant insurance areas.

Responsibilities

• Contribute to analyses using actuarial data and disclose relevant assumptions.
• Maintain and improve actuarial databases and queries.
• Create and update reports on key business metrics.

Skills

Analytical skills

Communication skills

Problem-solving skills

Knowledge of programming languages

Microsoft Excel proficiency

Education

Degree in actuarial science, mathematics, statistics or related field

Tools

SQL

Tableau

Microsoft Access

Job description

Facility Association ensures the availability of automobile insurance to owners, lessees and licensed drivers of motor vehicles who are eligible. We are an unincorporated non-profit association of insurers. The Association operates in Ontario, Alberta, Newfoundland and Labrador, New Brunswick, Nova Scotia, Prince Edward Island, Yukon, Nunavut, and Northwest Territories. Every insurer licensed to write automobile liability insurance in these jurisdictions is a member of Facility Association. The affairs and business of the Association are managed and controlled by a Board of Directors with authority Canada-wide. The President and CEO is responsible for the day-to-day operations of the organization and management of staff.

Additional information in relation to Facility Association is available on its website : https : / / www.facilityassociation.com /

About the role

The Actuarial Analyst collaborates with and supports members of the valuation, planning / forecasting, pricing, and data analytics teams in the preparation and analysis of data used in financial forecasting (exposures, premium, loss ratios, expenses, and cash flows). The incumbent works with stakeholders in the Underwriting, Claims and Operations (UCO), Data and Analytics, and Finance departments, as well as Facility Association’s (FA) member companies and stakeholders, to support its ability to achieve its strategic priorities and objectives by enabling risk-informed decision-making. This specific role is focused on pricing.

Key responsibilities

• Contribute to analyses using actuarial data (product pricing, reserve valuation, industry loss trends, financial projections, etc.), disclose relevant assumptions, observations and conclusions to the appropriate stakeholders within the established timeline.
• Maintain and improve actuarial databases and queries. Identify data issues and propose actions to correct them.
• Leverage experience to build, improve and enhance tools used in the actuarial processes.
• Create and update reports and exhibits on key business metrics to support decision-making, management reporting and communications with internal and external stakeholders.
• Prepare rate filings for Canadian insurance regulators and respond to regulatory inquiries.
• Support product and pricing change implementation.
• Maintain documentation and risk controls throughout the actuarial processes.

Experience and qualifications

• University or college degree in actuarial science, mathematics, statistics or a related field.
• 2+ CAS exams / 1 ACIA module or progress towards an actuarial designation are an asset.
• At least one (1) year of experience in Property & Casualty insurance related to reserving, valuation, pricing, rate filing, finance, capital modeling, and / or data science.
• Strong knowledge of Microsoft Office software (Excel, Access, Word, PowerPoint).
• Knowledge of Tableau or similar business intelligence tools.
• Knowledge of at least one programming language (e.g., SQL, SAS, VBA, Python, R).
• Demonstrated analytical and problem-solving skills combined with strong verbal / written communication skills.
• Demonstrated experience working independently and with a team to contribute to the successful delivery of time-sensitive projects.
• History of being able to prioritize and manage multiple deliverables.
• Experience using GISA / IBC data and exhibits (i.e., automobile insurance industry statistical data) is an asset.
• This position qualifies under the FA Employee Referral Program.
• Facility Association is committed to providing accommodation for people with disabilities. Applicants need to make their needs known in advance.
• The Facility Association is proud to be an equal opportunity employer. Alongside a commitment to excellence, the Association is also committed to building a diverse working environment with hiring practices that encourage diversity in all its forms, including race, gender, sexual orientation, religion and ethnicity, among others.

Seniority level

• Mid-Senior level

Employment type

• Full-time

Job function

• Finance and Administrative

Industries

• Insurance and Insurance Carriers