Actuarial Co-Op Student (4 Month Co-op - January - April)

Liberty Mutual Canada; Toronto; On-site; CAD 40,000 - 55,000; Part time

Job summary

A leading insurance company is seeking an Actuarial Co-Op Student in Toronto to support senior actuarial staff. Responsibilities include extracting and manipulating data, calculating premium rate changes, and producing reports. Ideal candidates are currently enrolled in relevant university programs and possess a solid academic standing in mathematics and statistics. The company offers a flexible work environment and is committed to diversity and inclusion.

Benefits

Flexible work environment

Competitive time off policy

Employee & Family Assistance Programs

Qualifications

• Solid academic standing in Mathematics and Statistics.
• Strong interest in developing programming skills.
• Basic knowledge of insurance principles.

Responsibilities

• Assist with data extraction and manipulation.
• Calculate premium rate changes and loss development factors.
• Produce reports and graphs for senior actuarial use.

Skills

Attention to detail

Analytical skills

Programming in R

Programming in Python

Microsoft Excel

Microsoft Access

VBA macros

SQL

Education

Currently enrolled in a university degree program in Actuarial Sciences, Mathematics, Statistics

Tools

Microsoft Access

Job description

Department: Actuarial

Location: Toronto

Reports To: Senior Actuarial Analyst

Company Overview:

Liberty Mutual Canada is the Canadian operation of Liberty Mutual Insurance Company. We offer a broad suite of commercial insurance products and solutions to mid-size and large Canadian companies with Canadian, North American and/or multinational risks. Liberty Mutual Canada has over 300 employees and services its clients coast-to-coast from our regional offices in Vancouver, Calgary, Edmonton, Toronto, Montreal, and Halifax.

At Liberty Mutual Canada, diversity is about all of us. Our promise to you is a culture that is collaborative, rewarding, and empowering. We are committed to attracting and retaining employees across all dimensions of diversity and believe that recognizing, appreciating, and applying the unique insights, perspectives and backgrounds of each person cultivates an atmosphere of trust and respect. At Liberty Mutual Canada, our values are to foster a high-performing, equitable and inclusive culture where the best talent of all backgrounds can bring their whole selves to work and succeed.

If you are unsure whether or not your experience matches every requirement below, we encourage you to apply anyway. We are looking for varied and diverse perspectives and experiences that we can add to our team!

Our core values guide all of our decision-making and come to life through our benefits and employee programs. We offer:

• A premier flexible work environment (a combination of on‑site & remote work) supporting our employees in their pursuit of a healthy work‑life balance.
• Competitive time off policy
• Employee & Family Assistance Programs
• Participation in our national employee committees’ initiatives – social responsibility, employee engagement, diversity, equity & inclusion

The Opportunity:

Liberty is seeking an Actuarial Co‑Op Student to assist senior actuary staff with various responsibilities and functions, while learning actuarial theories and procedures. As part of the actuarial department goals in the field of data science, we are looking for an individual who will be able to help design and build models, tools, applications, systems, and platforms for actuarial and data science analytical work.

Duties and Responsibilities:

• Data extraction from various sources and systems and manipulate the data: Moderately complex calculations.
• Work with very detailed insurance data: premium and loss data, exposure data, and financial data.
• Calculate premium rate changes, exposure changes, loss development factors, and other quantities.
• Produce reports and high‑quality exhibits graphs, tables etc. for senior actuarial and business use.
• Actuarial Pricing and Profitability Studies for individual accounts and entire portfolios.
• Quarterly Actuarial Loss Reserving and year end analysis: Work with Loss Development Triangles.
• Financial Modeling, Financial Plan, and Scenario Stress Testing.
• Be able to think conceptually at a fairly complex level as well as attention to detail.
• Build pricing tools and pricing models.
• Deductibles and Increased limit factors.
• Work with loss models, frequency and severity distributions, aggregate loss distributions, simulations, time series, correlation and covariance, parameter estimation, model best fit, etc.
• Be able to build and develop programming models that start with basic data and follow the conceptual path to a business objective.
• Be able to very quickly develop a very high level of skill in the following programming systems:
  • Microsoft Excel
  • Microsoft Access
  • VBA macros
  • SQL
  • Programming Language R
  • Python

Skills & Qualifications:

• Currently enrolled in a university degree program in Actuarial Sciences, Mathematics, Statistics, or other relevant disciplines.
• Solid academic standing in Mathematics, Statistics, and analytical skills at the university undergraduate level.
• Strong interest in developing a very high level of programming and data analytic skills.
• Basic knowledge of insurance principles.
• Strong oral and written communication skills across a broad range of subjects.
• Very strong work ethic and willingness to continually learn.
• Completion of one Casualty Actuarial Society exam is preferred.

Liberty Mutual Canada is committed to fostering an inclusive, accessible environment where all employees feel valued and supported. We are committed to building a workforce that is representative of the communities we operate in and serve. If you require an accommodation for the recruitment/interview process due to a disability (which may be invisible or visible, temporary or permanent), please let us know and we will work with you to meet your needs.