Actuary / Senior Actuary

Insurance Corporation of British Columbia; North Vancouver; Hybrid; CAD 80,000 - 120,000; Full time

Job summary

A leading insurance corporation in British Columbia is seeking Actuaries to join their Pricing teams. The roles involve pricing analysis, actuarial reviews, and project leadership. Candidates should have a degree in Actuarial Science and experience in various actuarial areas. The company offers a hybrid work environment, competitive salary, and comprehensive benefits, including a defined benefit pension plan and wellness support.

Benefits

Defined Benefit Pension Plan

4 Weeks Vacation

3 Wellness Days

Health and Dental Coverage

Employee Assistance Program

Sick Leave Plan

Long Term Disability Plan

Qualifications

• Minimum of four years relevant experience in actuarial work.
• Attained or close to attaining Fellowship designation with CAS.

Responsibilities

• Contribute to pricing analysis ensuring compliance with Accepted Actuarial Practice.
• Supervise junior team members and provide peer review.
• Communicate complex results to stakeholders.

Skills

Collaboration

Communication

Analytical Skills

Critical Thinking

Education

Bachelor in Actuarial Science

Tools

MS Excel

Python

SQL

R

VBA

PySpark

SAS

Job description

We welcome applications from all qualified job seekers. Should you require any accommodations, including alternative interview formats, assistance with online assessments, or an ASL interpreter, throughout the application or hiring process, please email your request to [e-mail] - we are committed to ensuring an accessible experience for all candidates.

At ICBC, we strive to build diverse teams which reflect the communities we serve. To support this, we've created two talent communities for Indigenous Peoples and People with Disabilities. By joining one of these communities, you'll connect with our recruitment team who will guide you through the application process and help you explore opportunities at ICBC. Of course, you're welcome to apply for jobs at ICBC whether or not you join a talent community.

We look forward to hearing from you!

ICBC is one of BC's largest corporations and one of Canada's largest property and casualty (P&C) insurers with annual earned premiums of $4.9 billion and $23.7 billion in assets.

ICBC's actuaries primarily work in two areas : Insurance Pricing and Corporate Actuarial. Insurance Pricing has responsibility for overall rate recommendations for both Basic and Optional Insurance products, rate design, program evaluation, and other insurance modeling projects. Corporate Actuarial has responsibility for the estimation of ICBC's IBNR reserves, analyzing claims data and other relevant factors to identify future claims trends, financial reporting (discounting of unpaid claims, ULAE reserve), and capital adequacy testing to determine ICBC's internal capital management MCT targets.

We currently have two opportunities for Actuaries or Senior Actuaries to join our Pricing teams.

One opportunity reports directly to the Senior Manager of the Revenue Requirements & Reinsurance team. This incumbent will have the opportunity to lead rate indications, segmented rate changes, the purchase of reinsurance and actuarial pricing support for both existing and new products. Familiarity with rate filings in a regulatory environment, pricing models (e.g. GLM) and reinsurance is an asset.

Another opportunity reports directly to the Manager of the Actuarial Governance team. This incumbent will have the opportunity to conduct independent actuarial reviews of critical projects from the Pricing and Corporate Actuarial departments. Reviews cover analysis such as actuarial liability estimation, rate change indications, actuarial financial reporting, rate segmentation (predictive models) and premium projection. Reviews focus on assumptions, methodology, processes, data and documentation to ensure compliance with the Canadian Institute of Actuaries' Standards of Practice.

Key accountabilities include

• Contribute to the pricing analysis, ensuring compliance with Accepted Actuarial Practice in Canada.
• Supervise junior team members and provide peer review of their work.
• Author reports that draw attention to critical issues and required actions.
• Communicate complex technical results, verbally and in writing, to key internal and external stakeholders, including senior management.
• Lead large projects.
• Identify and implement process improvements to analytical work.
• Develop operational knowledge in areas such as underwriting, product development, and claims processing.

Position Requirements

• A Bachelor or higher degree in Actuarial Science, Statistics or other related fields.
• Solid knowledge of actuarial principles along with a minimum of four years of relevant experience in a variety of actuarial work areas.
• Attained or close to attaining the Fellowship designation with the CAS (or equivalent organization).
• Excels at collaborating with others.
• Excellent verbal and written communication skills, which will be complemented by solid analytical skills, critical thinking, and knowledge of the insurance landscape.
• Excited to challenge the status quo and provide creative solutions to business problems.
• Analytical Software Tools.
• Advanced knowledge of MS Excel is required.
• Exposure to Python, SQL, R, VBA, PySpark and SAS are considered assets.

About us :

At ICBC, it's our job to make sure the car insurance system works for all British Columbians, today and in the future. If you want to make the most of your skills and expertise while growing your career, we want you. A career at ICBC is an opportunity to be part of a talented, diverse and inclusive team that is driven to serve its customers and community. You can expect a competitive salary, comprehensive benefits and a collaborative work environment. If you are reliable and dependable, contact us today to be part of our talented and diverse team as we work together to create an insurance system we can all be proud of.

• Hybrid 8 - you will work a minimum of 8 days in a 4-week period at your primary office headquarters (typically 2 days per week). The remaining days will be remote within British Columbia.

Our values guide how we interact with customers, stakeholders, partners, and each other. They shape our decisions and create a culture where employees feel inspired and empowered to do their best work

• Collaborative : We include different perspectives to reach our common goals.
• Supportive : We seek to understand to meet diverse and evolving needs.
• Straightforward : We simplify the complex to make things easier.
• Knowledgeable : We gain knowledge through experience and learning to make informed decisions

We invite you to apply today and find out why employees recommend ICBC to their friends and family as an excellent place to work. We value and seek to maintain an environment of Collaborative, Supportive, Straightforward, and Knowledgeable team. Come join us at one of BC's Top Employers!

ICBC provides comprehensive benefit coverage to all eligible employees including a defined benefit pension plan and 4 weeks' vacation, plus 3 Wellness Days per year.

• Three options available for your health and dental coverage
• Employee and Family assistance program (wellness support)
• Basic group life insurance
• Voluntary group life insurance
• Critical Illness insurance
• Sick leave plan - 100% of pay for a period of a maximum of 8 weeks
• Long term disability plan
• Pension plan - defined benefit pension plan that pays a benefit to you or your beneficiary upon termination, death, or retirement.

Only candidates legally entitled to work in Canada will be considered for this position.

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