Actuary and Model Expert, UL Valuation

Manulife; Southwestern Ontario; On-site; CAD 90,000 - 120,000; Full time

Job summary

A leading international financial services provider in Ontario seeks a Model Expert for Universal Life. The candidate will support actuarial results and manage process improvements while mentoring actuarial students. Essential qualifications include an actuarial designation and 5+ years of experience. The role also requires advanced analytical and interpersonal skills, alongside a strong ability to communicate technical topics effectively.

Benefits

Equal opportunity employer

Diversity and inclusion initiatives

Qualifications

• 5+ years of relevant experience in progressive actuarial roles.
• Advanced knowledge regarding technical aspects of work.
• Ability to work independently and solve problems effectively.

Responsibilities

• Support actuarial results and solutions for Universal Life's line of business.
• Lead quarterly IFRS reserves and LICAT required capital production.
• Manage actuarial student(s) and support team development.

Skills

Results orientation

Analytical skills

Interpersonal skills

Ability to communicate complex topics

Education

Actuarial designation (FSA, FCIA, ASA)

Tools

Axis

Job description

Description

Reporting to the UL line actuary, this position offers a unique opportunity to become the model expert for the Universal Life’s line of business, one of the largest and most complex business lines of the Canadian segment.

In this role, you will support our mission to deliver accurate and efficient actuarial results and solutions, while building strong product knowledge and developing a solid IFRS17 foundation. As part of our team, the UL model expert fulfills a critical role in ensuring the integrity of reserves and required capital calculations, explaining the drivers of quarterly earnings, and collaborating with peers from other functions to develop and implement value generating business initiatives.

Key Accountabilities:

Actuarial Modeling

• Prioritize change management activities to meet stakeholder needs and company initiatives.
• Review the development of all changes made to the valuation model, ensuring compliance with modeling standards. Provide support to the team to develop more complex cases, as needed.
• Lead process improvement initiatives to further automate the UL end-to-end valuation reporting process. Promote modeling best practices with the team.
• Manage the timely delivery of comprehensive and professional work products to satisfy the actuarial modelling requests of actuarial business partners.

Financial reporting

• Lead quarterly IFRS reserves and LICAT required capital production and reviews.
• Lead UL annual basis change activities.
• Contribute to annual financial reporting/disclosures of actuarial results, such as sensitivities and Appointed Actuary’s Report.
• Analyze results and support communications to senior management.

Ad hoc Support on Business Initiatives

• Key contributor to strategic initiatives driven by other functions.

Leadership and management

• Formally manage actuarial student(s). Provide coaching and mentoring to support direct report(s) and other team members’ development and progression.
• Develop sought-after subject matter expertise on UL model, products and assumptions.
• Develop and manage relationships across the Canadian segment and with corporate functions (example: pricing, inforce management, risk management, operations, accounting, and Group Capital Management, to name a few).

What we are looking for

• Actuarial designation (FSA, FCIA, ASA) with 5+ years of relevant experience in progressive actuarial roles.
• Results oriented, able to manage expectations, work under tight deadlines and manage competing priorities.
• Advanced knowledge regarding technical aspects of work; able to review data or results (financial or otherwise) for reasonability and identify root causes and drivers in the data being reviewed.
• Self-starter with the ability to work independently, particularly in using sound, independent judgment, problem-solving and analytical skills.
• Remains calm and in control when facing pressure and stressful situations; demonstrates confidence and persistence in the face of setbacks and obstacles.
• Ability to communicate and explain complex technical topics to various audiences, including senior management and non-technical functions.
• Strong interpersonal skills with the ability to collaborate, negotiate and influence effectively
• Previous Axis experience is an asset, considering the complexity of the UL model and associated products.

About Manulife and John Hancock

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better.

Manulife is an Equal Opportunity Employer

At Manulife/John Hancock, we embrace our diversity. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.

It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process.