Associate Director or Director, ALM Insurance

National Bank; Montreal; On-site; CAD 100,000 - 130,000; Full time

Job summary

National Bank of Canada seeks an Associate Director or Director for their ALM Insurance team. This role involves leading a team to assess financial metrics related to asset portfolio risk appetite and insurance product strategies, requiring strong actuarial skills and bilingualism. Join a collaborative environment fostering professional growth and innovation.

Benefits

Health and wellness program

Employee Share Ownership Plan

Employee and Family Assistance Program

Preferential banking services

Opportunities to get involved in community initiatives

Virtual sleep clinic

Qualifications

• Experience in life insurance is required.
• Leadership experience in actuarial teams.
• Strong understanding of financial metrics and risk appetite.

Responsibilities

• Lead ALM Insurance team in asset portfolio risk appetite design.
• Collaborate with actuaries and portfolio managers on financial impacts.
• Develop strategies for insurance product ideations.

Skills

Actuarial expertise

Mathematical skills

Bilingualism (English and French)

Education

Bachelor’s in Mathematics or Actuarial Sciences

FSA or FCIA

Tools

Knowledge of IFRS17

Knowledge of Axis

Job description

As an Associate Director or Director, ALM Insurance, at National Bank of Canada, you will serve as an actuarial expert leader. Your actuarial and math skills, your experience in actuarial valuation, pricing and reporting will enable you to identify and determine the impacts of various assumptions underneath liability modeling of NBC life insurance. Such actions will lead ultimately to design asset portfolio risk appetite and target allocation.

Your role :

• Lead ALM Insurance team to design asset portfolio risk appetite and target allocation.
• Lead liaison with life insurance Actuaries, Risk and Treasury Portfolio Manager to identify and determine impact of various assumptions on reserves, financial statements, capital and liquidity footprint and adapt accordingly risk appetite and target allocation
• Lead modeling of new strategies specific to insurance and product ideations in system and assess their impacts on all metrics (ALM, capital, pricing, reserving, financials)
• Lead the integration of liabilities, capital usage and liquidity metrics specific to insurance
• Lead recommendations process to senior management
• Ensure processes are implemented and transfer knowledge to other team members

Your team :

Within NBC Asset and Liability Management team, you will be part of a team of 9 colleagues and reporting to the ALM Managing Director and Head. Our team stands out for its cross-functional ALM role for NBC, the quality of its deliveries and its development of specialized expertise while working in a collaborative and enriching work environment. We make sure that interest rates and affiliated risk from all ALM functions, including insurance, are well identified, assessed and managed.

You will have the opportunity to take on diverse work and carry out a wide range of different tasks.You will lead design asset portfolio risk appetite and target allocation, product development, actuarial pricing, computer modelling and financial projections.

We offer a wide range of ongoing learning opportunities for your development, including hands-on learning, training courses and collaboration with colleagues who have varied expertise and profiles.

Prerequisites :

• Bachelor’s in Mathematics or Actuarial Sciences
• Experience in life insurance
• FSA or FCIA an asset
• Knowledge of IFRS17
• Knowledge of Axis an asset
• Bilingualism (English and French) required, as you will regularly carry out tasks that require the use of IT applications and tools unavailable in French

In addition to competitive compensation, upon hiring you’ll be eligible for a wide range of flexible benefits to help promote your wellbeing and that of your family.

• Health and wellness program, including many options
• Employee Share Ownership Plan
• Employee and Family Assistance Program
• Preferential banking services
• Opportunities to get involved in community initiatives
• Virtual sleep clinic

These are a few of the benefits available to you. We have an offer that keeps up with trends as well as your needs and those of your family.

Our dynamic work environments and cutting-edge collaboration tools foster a positive employee experience. We actively listen to employees’ ideas. Whether through our surveys or programs, regular feedback and ongoing communication is encouraged.

We're putting people first

We're a bank on a human scale that stands out for its courage, entrepreneurial culture, and passion for people. Our mission is to have a positive impact on peoples' lives. Our core values of partnership, agility, and empowerment inspire us, and inclusivity is central to our commitments. We offer a barrier-free workplace that is accessible to all employees.

We want our recruitment process to be fully accessible. If you require accommodation, feel free to let us know during your first conversations with us. We welcome all candidates! What can you bring to our team?

Come live your ambitions with us!

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