Director ALM Pension & Insurance

Banque Nationale du Canada; Montreal; On-site; CAD 80,000 - 140,000; Full time

Job summary

An established industry player is seeking a Director of ALM Pension & Insurance to lead actuarial initiatives within their dynamic team. This role offers the chance to shape asset portfolio strategies and influence financial projections while collaborating with a dedicated group of professionals. You will leverage your actuarial expertise to assess various assumptions impacting pension and insurance liabilities, ensuring optimal risk management. If you're passionate about making a positive impact and thrive in a collaborative environment, this opportunity is perfect for you.

Benefits

Flexible benefits

Dynamic work environment

Cutting-edge collaboration tools

Wellbeing programs

Qualifications

• Lead actuarial valuation and pricing for pension and insurance.
• Design asset portfolio risk appetite and target allocation.

Responsibilities

• Lead the design of asset portfolio risk appetite and target allocation.
• Integrate liabilities, capital usage, and liquidity metrics.

Skills

Actuarial skills

Mathematical skills

Experience in pension and life & health insurance

Financial modeling

Risk assessment

Education

Bachelor’s in Mathematics

Bachelor’s in Actuarial Sciences

FSA or FCIA certification

Tools

Axis

Financial modeling software

Job description

Area of Interest: Financial markets and treasury

As a Director, ALM Pension & 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 assess the impacts of various assumptions underneath liability modeling of NBC’s defined-benefit pension and life & health insurance. Such activities will ultimately bring you to design the asset portfolio risk appetite and target allocation.

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.

Your role:

• Lead the team in the design of asset portfolio risk appetite and target allocation in relation to ALM Pension & Insurance activities;
• Lead liaison with defined-benefit pension and life & health insurance actuaries as well as Risk and Treasury Portfolio managers to identify and determine the impact of various assumptions on reserves, financial statements, and the capital and liquidity footprint as well as to adapt risk appetite and target allocation accordingly;
• 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 processes to senior management;
• Ensure processes are implemented and transfer knowledge to other team members.

Your team:

Within NBC’s Asset and Liability Management team, you will be part of a team of 10 colleagues and report 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, as well as its collaborative and enriching work environment. We make sure that interest rates and affiliated risk from all ALM functions, including pension and insurance, are well identified, assessed and managed.

Each expert leader within the ALM team oversees the activities related to their fields of expertise with the support of the rest of the team, ensuring talents get a wide range of learning opportunities and that we continuously manage resource allocation for optimal delivery.

Prerequisites:

• Bachelor’s in Mathematics or Actuarial Sciences;
• Experience in pension and life & health insurance;
• FSA or FCIA, an asset;
• Knowledge of IAS19 and IFRS17;
• Knowledge of Axis, an asset, or any other equivalent;

Languages: Reason to require this language: you will need to carry out regularly tasks that require the use of IT apps 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.

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.