Actuarial Assistant / Analyst, Product Actuarial

The Independent Order of Foresters; Toronto; Hybrid; CAD 60,000 - 80,000; Full time

Job summary

A financial services organization in Toronto is seeking an Actuarial Assistant / Analyst to support product development and pricing analysis. This hybrid role requires a strong background in mathematics and familiarity with actuarial processes. Candidates should have a bachelor's degree and be progressing through actuarial exams. Key skills include SQL and Excel. Competitive compensation is offered.

Qualifications

• One year of actuarial experience in a life or health insurance company is an asset.
• Demonstrated progress through the SOA and CIA education and examination process.
• Communication skills for dealing with both technical and non-technical audiences.
• Innovative thinker and problem solver.
• Ability to develop project and time management skills.

Responsibilities

• Support pricing actuaries in the production of deliverables for product initiatives.
• Understand how pricing models work and detect potential model errors.
• Contribute written content to product reports.
• Support the production of performance monitoring and planning deliverables.

Skills

SQL

Python

Compliance

Access

Actuarial Models

Data Collection

Powerpoint

SAP

Tableau

Excel

Mathematics

VBA

Data Analysis

Statistical Analysis

Education

Bachelor's degree in mathematics, science, business, economics or a relevant field

Tools

Moody's AXIS

Microsoft Excel

Microsoft Word

Microsoft PowerPoint

Job description

Overview

Career Opportunity

Role Title

Actuarial Assistant / Analyst Product Actuarial

Purpose of role

The Actuarial Assistant / Analyst Product Actuarial will be a versatile team member who will work closely with other students and qualified actuaries on the Product Actuarial team and more broadly with other actuarial and risk professionals within Foresters to support the delivery of product development and pricing analysis in pursuit of the Foresters Purpose. The primary focus of this role will be to develop knowledge of Foresters life insurance products sold in Canada and the United States such as Term Participating and Non-participating Whole Life Universal Life and Critical Illness. The successful candidate will apply pricing best practices through hands-on training and progression through the education & examination process of the SOA / CIA to produce pricing analysis in accordance with Foresters Product Management Policy. They will also be capable of developing process improvements and other enhancements in partnership with the rest of the team to enhance the capabilities of the Product Actuarial team. This is a hybrid position and requires a minimum of two (2) days a week in the office.

Key responsibilities / accountabilities

• Support pricing actuaries in the production of deliverables for product initiatives in partnership with Product Management
• Understand how pricing models work and detect potential model errors including the impact of changing assumptions or inputs on the output of the model
• Become familiar with Moody0s AXIS software to support development of high quality pricing models
• Follow pricing guidelines standards and policies while supporting development of pricing assumptions and production of cash flow projections profit metrics and other model output
• Contribute written content to product reports and continue to build knowledge and expertise in preparation for presenting pricing analysis to Actuarial Advisory Group
• Provide visibility to pricing actuaries on opportunities to improve existing processes or risks associated with work being performed
• Support the production of performance monitoring and planning deliverables such as Value of New Business reporting and the New Business Plan models
• Identify opportunities to improve the structure or maintenance of pricing infrastructure such as models reports documentation and spreadsheets
• Includes automation auditability and compliance with policies and standards
• Develop understanding of how the Product Actuarial team interacts with other Foresters departments such as Corporate Actuarial Risk Management Finance Planning Sales IT and Product Management
• Communicate results of pricing analysis to fellow team members and other actuarial professionals within Foresters

Key qualifications / competencies

• Bachelors degree in mathematics science business economics or another relevant field
• One (1) year of actuarial experience in a life or health insurance company an asset
• Demonstrated progress through the SOA and CIA education and examination process
• Communication skills required to progressively deal with both technical and non-technical audiences with diverse professional backgrounds
• Capable of performing bottom up checking of processes or models to ensure accuracy of results
• Develop ability to recognize when models or analysis contains errors and troubleshoot
• Demonstrated ability to recognize when conflicting information or lack of information could affect analysis and work with manager or teammates to resolve
• Proactively recommend possible solutions including ones based on knowledge acquired by passing actuarial exams
• Ability to become expert with Moody0s AXIS and Microsoft Excel Word PowerPoint essential. Current experience with these tools an asset.
• Innovative thinker and problem solver
• Willingness to think outside the box especially from a contrarian perspective
• Ability to develop project and time management skills as responsibilities increase
• Develop and maintain current knowledge of life insurance products in the U.S. and Canada
• Begin to gain familiarity with product regulations and other external standards
• Begin to develop familiarity with other Foresters Corporate / Group functions such as financial reporting ALM Capital Management Risk Management or Business Planning
• LI-Hybrid

Equal Opportunity Employment and Inclusion at Foresters Financial we are committed to sustaining an equal opportunity environment for all job applicants. We embrace Inclusion Diversity and Equity (IDE) as a core strategic objective for building strong innovative teams in which all our employees can show up wholly and authentically as themselves.

Foresters Financial strives to provide an accessible candidate experience for prospective employees with different abilities. If you anticipate needing any type of accommodations during the recruitment process please email in advance of your appointment.

Thank you for choosing Foresters. Only those candidates who will be selected for further consideration will be contacted by our Talent Acquisition Team.

Key Skills

SQL, Python, Compliance, Access, Actuarial Models, Actuarial support, Data Collection, Powerpoint, SAP, Tableau, Excel, Mathematics, VBA, Data Analysis, Statistical Analysis

Employment Type: Full-Time

Experience: years

Vacancy: 1