Actuary and Underwriting Lead

Volkswagen Group Services GmbH; Pickering; Hybrid; CAD 100,000 - 138,000; Full time

Benefits offered by this job

Health Insurance

Flex health benefits

Retirement plan

Bonus program

Vehicle leasing program

Hybrid/flexible work environment

Floaters days

Company holidays

Wellness programs

Tuition reimbursement

Job summary

Volkswagen Financial Services in Canada seeks an Actuary & Underwriting Lead to shape the insurance portfolio through risk assessment, pricing strategy and financial modeling. You will lead a cross‑functional team and influence product structure while ensuring profitability and regulatory compliance.

The role reports to the Senior Director, Finance Insurance NAR and offers a hybrid work arrangement with substantial stakeholder collaboration across finance, risk, and operations.

Qualifications

• 10+ years minimum with strong background in actuarial science.
• 5+ years as an actuary in an actuarial role in Insurance.
• 3 years in Auto Insurance with auto exposure.

Responsibilities

• Understand pricing and reserve calculations for Auto Insurance products.
• Lead risk management, accounting and executive discussions on loss provisions.
• Provide actuarial inputs for income recognition and IFRS 17 reporting.
• Develop underwriting guidelines to ensure consistency and compliance.
• Mentor analysts and align underwriting with company goals.
• Collaborate with cross-functional teams to influence product structure.

Skills

Lead and direct the work of others

Excel skills

SQL

Mentoring junior team members

Data analysis tools

Modeling with open-source tools

Communication to executives

Pricing and reserving review

Tools

SQL

Excel

Job description

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Volkswagen Financial Services, a wholly-owned subsidiary of Volkswagen Group, is the trusted key to mobility for its brand partners. We are committed to supporting the Audi, Ducati, and Volkswagen brands and their Dealers, specializing in providing accessible mobility solutions for its Customers. The company’s offerings include Retail Leasing, Retail Financing, Commercial Financing for new and used vehicles, and End-of-Term vehicle disposition.

Brief Role Description

The Actuary & Underwriting Lead plays a pivotal role in shaping the insurance portfolio through expert risk assessment, pricing strategy, and financial modeling. This position blends deep actuarial knowledge with hands-on underwriting leadership to ensure sound decision-making and profitability across insurance products. This role requires a strategic thinker with strong analytical skills, deep insurance knowledge, and the ability to lead cross-functional teams in a dynamic environment.

Reports: Senior Director, Finance Insurance NAR

Role classification: Hybrid

Key Responsibilities

Actuarial & Analytical Duties (60%):

• Understand and provide effective challenge on Pricing and Reserve calculation for Auto Insurance products
• Collaborate with Risk Management, Accounting, and senior management in establishing adequate loss provisions for Insurance products
• Engage with CFO, VP of Finance, Chief Risk Officer, Accounting, Risk Management, Brand executives and external auditors to gain acceptance on the loss and reserve forecasts. Provide technical and operational support to auditors to ensure successful audit close
• Lead enhancements and automation of data structure, integrity, validation, and reporting.
• Extract and analyze data from data warehouse to enhance underwriting, pricing, reserves, and prediction of future issues and trends.
• Provide all actuarial inputs for actual and forecast income recognition.
• Update and report on actual experience compared to forecast and pricing. Recommend and drive actions to drive on-target results.
• Support IFRS 17 reporting and analysis.
• Develop and implement underwriting guidelinesand procedures to ensure consistency and compliance.
• Collaborate with Front-End Staff, Accounting, Sales, and others to influence acceptability criteria and product structure.
• Ensure regulatory compliancewith insurance laws and internal standards.

Leadership & Strategic Oversight (20%):

• Lead and mentor analysts, providing training and performance feedback.
• Set strategic directionfor underwriting and risk management aligned with company goals.
• Implement process improvementsto enhance efficiency, accuracy, and turnaround times.
• Participate in cross-functional initiatives, including sales, claims, and compliance.

Qualification requirements

Education

Experience

• 10+ years minimum with strong background inactuarial science.
• At least 5 years working as an actuary in an actuarial role in the Insurance industry.
• 3 years working in Auto Insurance Industry with automobile property and/or breakdown exposures.

Skills

• Lead and direct the work of others.
• Ability to conduct large scale projects and research through all stages: concept formulation, definition of metrics, determination of appropriate methodology, research evaluation and final research report
• Specialized ability to communicate highly technical subjects to the senior executives and others who have limited background in mathematics or statistics
• Support a robust pricing and/or reserving review process for insurance business, including both standard actuarial techniques and advanced modeling

Preferred

• Ability to build models using open-source software (e.g. R, Python), experience in distributed statistical computing preferred
• Personal or commercial auto insurance experience
• Excellent Excel skills and strong with SQL
• Experience mentoring and/or directing junior team members.
• Proficiency indata analysis tools, underwriting software, and statistical packages.
• Develop indications and communicate them to Actuarial Management and Senior Leadership
• Work collaboratively as a part of the broader Pricing and/or Reserving process
• Develop and communicate business analytics to Senior Leadership
• Foster innovation within the team and across the broader organization
• Support development of themselves and other associates in an actuarial capacity and according to VCI vision and mission statement

Salary range is dependent on factors such as industry-based experience, skills, training, credentials, and other qualifications.
The salary range for this role is $100,000 - $138,000. Actual pay may vary based on experience, education, and internal compensation practices.

This posting represents an existing vacancy that we are actively seeking to fill.

All applications are thoroughly reviewed by our recruitment team, and no artificial intelligence or automated technologies are utilized in the screening process.

Full-time employees of Volkswagen Financial Services enjoy these benefits:

• Health Insurance Coverage: We provide comprehensive insurance coverage, including health, dental, and vision plans, to ensure our employees and their families are well-protected and have access to quality healthcare services.
• We offer a flex health benefit program, including health, dental, and vision plans, to ensure our employees and their families are well-protected and have access to quality healthcare services that fits their needs.
• Retirement Plans & Savings: Planning for the future is important, which is why we offer competitive defined contribution retirement plan at no cost to the employee to help our employees save for their long-term financial goals. In addition, we have a generous savings matching program.
• Compensation: We believe in recognizing individual contributions and sharing company performance. Our Bonus & Merit Program reinforces a reward and a pay-for-performance culture.
• Vehicle Leasing Program: Our Vehicle Leasing Program offers employees the convenience and cost savings of leasing company vehicles at discounted rates. Employees and eligible family members can lease up to four vehicles per year.
• Work Environment: Our workplace sets the standard with its state-of-the-art facility, designed to inspire creativity and productivity. We believe in fostering an environment where our employees feel empowered to do their best work, and our flexible hybrid policy reflects our commitment to accommodating diverse work styles and needs.
• Floaters Days: We understand the importance of work-life balance, which is why we offer floaters days that can be used at your discretion for personal reasons or to recharge. We've included these days to be inclusive of holidays or celebrations that are that are important to employees. This allows you to commemorate whatever might be important to you.
• Company Designated Holidays: In addition to offering floaters days, we also recognize the importance of celebrating the holiday season with our team. That's why we designate specific company holidays during the December holiday period, ensuring our employees can enjoy this festive time. *Schedules may vary depending on the specific needs of certain parts of our business.
• Wellness Programs: We care about the holistic well-being of our employees, which is why we offer various wellness programs designed to promote physical, mental, and emotional health. These may include discounted gym memberships, mental health resources, and more.
• Tuition Reimbursement: We offer this program as part of our commitment to employee development. This benefit supports continued education by covering approved course expenses, fostering both professional growth and long‑term career advancement.

Volkswagen Financial Services is committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to race, colour, religion, sex, sexual orientation, family status, gender identity, gender expression, national origin, age, disability or any other characteristic protected by federal, or local laws.

Only shortlisted candidates will be contacted.

Job ID: 20259

Company: VW Credit Canada, Inc.

Location: Pickering, ON, CA, L1V 0C4

Department: Financial Services and Insurances

Working Model: Full-time

Contract Type: Unlimited

Remote Working: Up to 40%

Posting Date: Sep 19, 2026

Volkswagen Financial Services - The key to mobility

As the captive finance company of the Audi, Ducati and Volkswagen brands in Canada, Volkswagen Financial Services (VWFS) offers a wide range of leasing, retail financing and protection plans expertly tailored to meet the needs of our customers. Additionally, we provide commercial financing products to Audi, Ducati, and Volkswagen Dealers.

VWFS is seeking individuals from diverse professional backgrounds who can bring fresh perspectives and ideas to help us drive forward in the ever‑evolving financial and mobility services industry. As we continue to grow, we are excited to welcome talent from a variety of professional backgrounds to join our team. We believe in the power of diversity and inclusion, as it fuels creativity, fosters innovation, and strengthens our ability to serve our customers better. Are you a forward‑thinker, a problem‑solver, or an innovator? This is an opportunity to be part of a dynamic team that values diversity, creativity, and collaboration.

Notice | This job portal is provided and operated centrally by Volkswagen AG. The job vacancies shown in the job portal, as well as further information, are defined and managed by the respective Group companies and only provided centrally on a systemic basis by Volkswagen AG in its role as provider of the job portal.