Actuarial Manager, Pension Risk

Ontario Teachers' Pension Plan; Toronto; Hybrid; CAD 80,000 - 120,000; Full time

Job summary

Join a forward-thinking organization as a Manager in Pension Risk, where you'll leverage your actuarial expertise to manage liability risks and ensure the long-term sustainability of the pension plan. This role involves collaborating with IT to enhance asset-liability models, conducting in-depth analyses, and supporting strategic decision-making for the Board and management. You'll thrive in a hybrid work environment that values professional growth, offering competitive compensation and comprehensive benefits. If you're passionate about making a significant impact in the financial services industry, this is the opportunity for you.

Benefits

Competitive Salary

Employer Paid Benefits

Defined Benefit Pension Plan

Flexible Work Environment

Flexible Travel Program

Employee Discount Programs

Qualifications

• Minimum 5 years of relevant experience in financial services focusing on actuarial analysis.
• Strong technical skills with experience in Python and Excel.

Responsibilities

• Support the maintenance and development of the asset-liability model (ALM).
• Complete activities related to the annual valuation cycle.

Skills

Python

Excel

Actuarial Analysis

Asset-Liability Modelling

Knowledge of Canadian Pension Industry

Education

Degree in Quantitative Discipline

Graduate Degree

ASA/ACIA Designation

Tools

Actuarial Software

Job description

The opportunity

The Manager, Pension Risk is part of a team of actuarial experts that manages the liability risk and long-term sustainability of the pension plan by providing critical asset-liability modelling analysis and valuation support.

Who you'll work with

The Risk Division aims to ensure that the pension plan is sustainable for the long term by focusing on big-picture risks and ensuring that Ontario Teachers’ activities remain within the board’s risk appetite. Within the Risk Division, Pension Risk is a team of specialized individuals responsible for supporting the Board, Plan Sponsors and Executive Team by informing the design and funding of the pension plan, managing the liability risk, influencing decision makers, and delivering insightful actuarial research and analysis.

What you'll do

• Support the maintenance and development of the asset-liability model (ALM) and related tools used to provide analysis to the Board, Partners and Management. These tools provide critical inputs to the assessment of plan sustainability as well as decisions related to key assumptions (e.g. discount rate), investment strategy and plan design. In this regard, the Manager, Pension Strategy will:

  • Work with IT to test the technical robustness and viability of the ALM

  • Prepare analysis to support actuarial insights for the Board, Partners, Management and colleagues.

  • Collaborate on the development of necessary system and process changes to ensure critical inputs (plan documents, the FMP, regulations, professional standards affecting funding, forecasting methods and plan design / administration) are accurately reflected within the ALM System.

• Act as a key contributor to the Pension Risk annual work plan.

• Support teams within Risk and Total Fund Management in establishing the long-term investment strategy risk framework, by helping to:

  • Validate the soundness of the asset model and ensure the functionality of the asset model tools within the ALM system.

  • Create tools and calculate risk metrics for the analysis of the investment strategy.

  • Execute and summarize results of stochastic simulations and scenarios.

• Complete activities related to the annual valuation cycle, including:

  • Working in collaboration with Member Services and the external plan actuary to ensure accuracy, sufficiency and reliability of the valuation data.

  • Preparing and summarizing valuation results for comparison with external plan actuary.

  • Supporting the accuracy of publicly disclosed financials both at year-end and mid-year reporting.

  • Preparing key financials controls, particularly those related to Financial Statement valuation results.

• Supports research into long-term plan sustainability issues that may affect the strategic direction of the organization.

• Supports research on longevity risk and related mortality assumptions, as well as other demographic assumption drivers and trends.

• Conducts analysis on plan demographics, include the future growth and characteristics of Teacher and Student populations to understand its ramifications on key plan metrics.

What you'll need

• Degree in a quantitative discipline (mathematics, actuarial science or a related field).

• Graduate degree is an asset.

• Minimum ASA (Associate of the Society of Actuaries) / ACIA (Associate of the Canadian Institute of Actuaries) designations with a commitment to achieving the Fellowship designations.

• Strong technical skills, with experience in Python / Excel

• Strong knowledge of the Canadian pension industry, including legislative framework, Income Tax Act rules and regulations, Pension Benefits Act (Ontario) and regulations thereto, current pension issues, actuarial practices and trends and accounting standards.

• Minimum of 5 years of relevant experience in the financial services industry, with a focus actuarial analysis, actuarial valuations and asset-liability modelling.

• Experience within a large, complex pension fund is an asset.

• Experience developing and coding complex actuarial programs and tools is an asset

#LI-PA, #LI-Hybrid

What we’re offering

• Pay-for-performance environment that offers competitive salary and incentive

• Numerous opportunities for professional growth and development

• Comprehensive employer paid benefits coverage

• Retirement income through a defined benefit pension plan

• The opportunity to invest back into the fund through our Deferred Incentive Program

• A flexible/hybrid work environment combining in office collaboration and remote working

• Competitive time off

• Our Flexible Travel Program gives you the option to work abroad in another region/country for up to a month each year

• Employee discount programs including Edvantage and Perkopolis

At Ontario Teachers', diversity is one of our core strengths. We take pride in ensuring that the people we hire and the culture we create, reflect and embrace diversity of thought, background and experience. Through our Diversity, Equity and Inclusion strategy and our Employee Resource Groups (ERGs), we celebrate diversity and foster inclusion through events for colleagues to connect for professional development, networking & mentoring. We are building an inclusive and equitable workplace where our talent is respected, accepted and empowered to be themselves. To learn more about our commitment to Diversity, Equity and Inclusion, check out Life at Teachers'.

How to apply

Are you ready to pursue new challenges and take your career to the next level? Apply today! You may be invited to complete a pre-recorded digital interview as part of your application.

Accommodations are available upon request ([e-mail]) for candidates with a disability taking part in the recruitment process and once hired.

Candidates must be legally entitled to work in the country where this role is located.

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Functional Areas:

Risk

Requisition ID:

6407