Actuarial Analyst

Facility Association; Toronto; Hybrid; CAD 80,000 - 100,000; Full time

Benefits offered by this job

Hybrid work model

Disability accommodation

Job summary

Facility Association in Ontario is seeking an actuarial analyst to join the Valuation team, working on reserve valuation, pricing, data analytics, and collaboration with claims, underwriting and finance.

This hybrid role requires a degree in actuarial science or related field, 2+ years P&C insurance experience, CAS exams or CIA, and proficiency in Excel and at least one programming language (SQL, SAS, VBA, Python, R).

Qualifications

• University or college degree in actuarial science, mathematics, finance, computer science or a related field.
• 2+ years of experience in Property & Casualty insurance related to reserving, valuation, pricing, finance and/or capital modeling.
• 2 CAS exams or CIA credential.
• Strong knowledge of Microsoft Office (Excel, Access, Word, PowerPoint).
• Knowledge of at least one programming language (SQL, SAS, VBA, Python, R, etc.).
• Valuation software experience (ResQ, Arius or similar) is an asset.
• Knowledge of Tableau or BI tools is an asset.
• Experience with GISA data exhibits is an asset.

Responsibilities

• Contribute to actuarial analyses using data (reserve valuation, financial projections, financial reporting, ad-hoc analysis).
• Maintain and improve actuarial databases and queries; reconcile data and propose fixes.
• Create and update reports and exhibits on key business metrics for decision-making and stakeholder communication.
• Conduct valuation analyses of claims liabilities and assist with reserving provisions.
• Develop and maintain documentation and risk controls throughout actuarial processes.
• Develop presentation materials for member committees, internal stakeholders, rating agencies, and regulatory presentations.

Skills

Analytical skills

Problem-solving

Teamwork

Detail-oriented

Time management

Education

Bachelor's degree in actuarial science or related field

Tools

Excel

SQL

SAS

Python

R

VBA

Job description

Are you looking to work with an organization that has an impact on the insurance industry? Do you want your voice to have an impact?

At Facility Association, we pride ourselves on being a standout employer in the insurance industry. Our unique business model and size provide unparalleled opportunities, allowing you to collaborate with multiple insurance companies across different provinces and to work with teams across the organization. We offer an exceptional work-life balance, fostering an open and trusting environment, and giving you a diverse and enriching professional experience.

Join our team and experience unparalleled professional development opportunities, where your contributions truly make a difference in the insurance industry and the organization. To learn more about the Association and what we do, visit https://www.facilityassociation.com/

About the role:

The FA actuarial team offers opportunities to work collaboratively in valuation, planning/forecasting, pricing and data analytics, and to work with stakeholders in the claims, underwriting and finance departments, as well as our member companies and external stakeholders. This role is a cross-functional role and the ideal candidate will bring both technical and industry-specific knowledge to the position.

As an actuarial analyst reporting to the Actuarial Manager, Valuation, you will:

• Contribute to analyses using actuarial data, (reserve valuation, financial projections, financial reporting, ad-hoc analysis, etc.), disclose relevant assumptions, observations and conclusions to the appropriate stakeholders within the established timelines.
• Maintain and improve actuarial databases and queries; reconcile data, identify data issues and propose actions to correct them.
• Create and update reports and exhibits on key business metrics to support decision-making, management reporting and communications with internal and external stakeholders.
• Conduct valuation analyses of claims liabilities and work with the valuation actuary to select appropriate IBNR provisions, payment patterns and loss ratio projections at a reserving segment level.
• Apply critical thinking skills to solve problems, enhance work processes, and translate the impact of real-world issues into numerical models.
• Maintain documentation and risk controls throughout the actuarial processes.
• Develop presentation and/or communication materials for member committees, internal stakeholders, rating agencies, and regulatory and industry presentations.

This is a hybrid role and attendance at the office is required once per week.

About You:

As an actuarial analyst on the Valuation team, you demonstrate:

• University or college degree in actuarial science, mathematics, finance, computer science or a related field
• 2+ years of experience in Property & Casualty insurance (preferably Canadian) related to reserving, valuation, pricing, finance and/or capital modeling with a preference for finance, reserving and capital modelingexperience.
• 2+ CAS exams or CIA credential
• Strong knowledge of Microsoft Office software (Excel, Access, Word, PowerPoint)Knowledge of at least one programming language (SQL, SAS, VBA, Python, R, etc.)
• Database management experience is an asset
• Valuation software experience (ResQ, Arius or similar) is an asset
• Knowledge of Tableau or similar business intelligence tools is an asset
• Experience using GISA data and exhibits (i.e. Canadian automobile insurance industry statistical data) is an asset
• Strong analytical and problem-solving skills
• Ability to work independently and with a team to contribute to the successful delivery of time-sensitive projects
• Ability to prioritize and manage multiple deliverables
• Detail and deadline-oriented

Compensation: 80K - 100K per year.

Facility Association is committed to providing accommodation for people with disabilities. Applicants need to make their needs known in advance.

FA is proud to be an equal opportunity employer. Alongside a commitment to excellence, FA 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.

Please be advised that only those applicants who are selected for interviews will be contacted.

*AI will not be used at any point during the recruitment process. This is an active vacancy.