Data Scientist I (Quants) - Insurance Model Validation

TD Bank; Toronto; On-site; CAD 82,000 - 115,000; Full time

Job summary

TD Bank Group is seeking a Model Validation professional in Toronto, reporting to the Senior Manager of Insurance Model Validation. The role focuses on independent validation of insurance models, leveraging actuarial science, ML/AI, and programming to deliver high-quality validation analyses.

The candidate will develop validation tools, communicate results to stakeholders, and stay current on actuarial and ML/AI methodologies applicable to insurance products and IFRS 17 considerations.

Qualifications

• Degree in Actuarial science, Statistics, AI/ML or financial engineering.
• FSA/ACAS/ACIA fellowship or association.
• Strong ML/AI modelling knowledge and programming proficiency.
• Experience in pricing/rating validation in insurance considered an asset.

Responsibilities

• Conduct validation independently for a variety of TD insurance models.
• Prepare validation reports with justification for audit/regulator reviews.
• Communicate findings with stakeholders and discuss model limitations.

Skills

Actuarial modelling

ML/AI modelling

Communication

Project management

Programming (Python/R)

Education

Actuarial science / Statistics / AI/ML degree

FSA/ACAS/ACIA designation

Tools

Python

R

SAS

Job description

Work Location:

Toronto, Ontario, Canada

Hours:

0

Line of Business:

Analytics, Insights, & Artificial Intelligence

Pay Details:

$81,600 - $115,200 CAD

TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs.

As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Job Description:

The Model Validation (MV) group in Enterprise Risk, Risk Management is responsible for the independent validation and approval of all analytical models used for TD.

The position reports to Senior Manager, Insurance Model Validation. Detailed accountabilities include:

• Conduct validation independently for a variety of TDI insurance models Conduct validation testing and analysis for different FCRM models under Senior Manager or Manager supervision to support various business initiatives and regulators requirements.
• Have effective communication with different stakeholders from 1st line to discuss and solve model limitations / issues identified during the validation process.
• Deliver high quality model validation reports with adequate information and justification to support validation conclusions and Audit / regulator review / assessment of validation process and validation analysis.

Maintain full professional knowledge of techniques and developments in actuarial methodology and ML/AI modeling for Insurance

Develops different validation testing tools / programs to assess advanced AI / ML models

Education & Experience:

• Post-secondary degree in one or more of the following areas: Actuarial science, Statistics, AI/ML, or financial engineering.
• Fellow or associate of the Society of Actuaries (FSA), Fellow or Associate of the Casualty Actuarial Society (ACAS), Fellow or Associate of the Canadian Institute of Actuaries (ACIA)
• In-depth knowledge of ML/AI modelling and proficient in programming languages & software for AI/ML modelling.
• 1+ Exp. in any top 10 Canadian P&C insurer regarding developing / validating a new pricing and rating solution with exposure in AI / ML modelling is an asset.
• Exp. in modeling / validating for multiple product lines (life and general insurance (auto/property)) for IFRS 17 liability / reserve, Stress testing, ORSA, CAT. Models is an asset
• undefined Excellent verbal and written communication skills Excellent time / project management and multitasking skills with minimal supervision. Customer Accountabilities: Works in a highly interactive, team-oriented environment with Big Data developers, and analytical experts Stays current on developments in techniques and developments in actuarial methodology and ML/AI modeling for Insurance Shareholder Accountabilities: Works closely with key stakeholders to conduct different validations in time to support different business initiatives Executes on the validation plan to deliver results aligned with enterprise model validation procedures and model risk policy Employee/Team Accountabilities: Shares knowledge, information, skills, and subject matter expertise among the team; Collaborates with other functions and teams to complete validation efficiently and in-time elevate identified issues.

Who We Are:

TD is one of the world's leading global financial institutions and is the fifth largest bank in North America by branches/stores. Every day, we strive to make every interaction, product, and experience remarkably human and refreshingly simple for over 27 million households and businesses in Canada, the United States and around the world. More than 95,000 TD colleagues bring their skills, talent and creativity to foster deeper relationships, ensure disciplined execution, and build a simpler, faster banking experience. TD is deeply committed to being a leader in client experience, that is why we believe that all colleagues, no matter where they work, are client facing. Together, we are reimagining what banking can be for our clients, colleagues and communities.

Our Total Rewards Package

Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical, and mental well-being goals. Total Rewards at TD includes a base salary, variable compensation, and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off, banking benefits and discounts, career development, and reward and recognition programs. Learn more

Additional Information:

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