Actuarial Associate

RBC; Mississauga; On-site; CAD 60,000 - 100,000; Full time

Job summary

An established industry player is seeking an Actuarial Associate to join their team. In this pivotal role, you will develop and maintain actuarial models that support the calculation of reserves for various product lines. Your contributions will directly impact financial results under IFRS17. You will collaborate with portfolio teams, ensuring that assumptions are accurately reflected in the models. With a focus on best practices, you will help enhance modeling methodologies while enjoying a supportive environment that values work-life balance and career development. This is a fantastic opportunity for those looking to grow in a dynamic and rewarding field.

Benefits

Flexible benefits

Career development programs

Investment and retirement savings plans

Competitive pay

Work/life balance options

Qualifications

• 2 to 4 years of related actuarial work experience.
• Strong technical skills in GGY AXIS and MS Excel.
• Solid understanding of actuarial principles and modeling logics.

Responsibilities

• Perform IFRS17 month-end valuations using actuarial models.
• Develop, test, and maintain actuarial models using GGY Axis.
• Document model methodologies and support model reviews.

Skills

Actuarial Modeling

Critical Thinking

Insurance Finance and Actuarial Concepts

Multi-Level Communication

Risk Analysis Management

Education

Bachelor's degree in Actuarial Science

Economics, Mathematics, or Statistics

Tools

GGY AXIS

R

MS Excel

MS Access (SQL)

Tableau

Python

Job description

Job Summary

Job Description

What is the opportunity?

As an Actuarial Associate, you will be central to the development and maintenance of actuarial models that underpin the calculation of actuarial reserves for our various product lines, directly feeding into our IFRS17 financial results.

This role also has accountabilities for building new valuation models, improving modeling methodologies, as well as maintaining and updating existing actuarial models.

What will you do?

• Perform IFRS17 month-end valuations using actuarial models for various product lines, ensuring accuracy and timeliness. This involves data processing for monthly inputs to the actuarial models, performing model runs, and preliminary analysis of the results.
• Develop, test, and maintain actuarial models using GGY Axis.
• Collaborate with portfolio teams to understand their needs and incorporate relevant assumptions and implement changes into the actuarial models.
• Document model methodologies, assumptions, and results clearly and comprehensively.
• Contribute to the ongoing development of best practices within the actuarial modeling team.
• Support and facilitate model reviews conducted by Enterprise Model Risk team, including preparing documentation and explanations.
• Accountable for the change management process that maintains model integrity

Must Haves:

• Bachelor’s degree (or greater) majoring in Actuarial Science or Business. Other relevant Majors (e.g. Economics, Mathematics, or Statistics) are acceptable if accompanied with demonstrated knowledge of Actuarial concepts.
• In pursuit of FSA/FCIA designations
• Strong analytical and communication skills for carrying out responsibilities
• Strong technical skills in GGY AXIS, R, MS Excel and MS Access (SQL)
• Knowledge of IFRS17 modeling standards and process controls.
• 2 to 4 years of related actuarial work experience
• Solid understanding of actuarial principles, practices, and modeling logics for valuation and liability projections
• Excellent problem-solving skills for identifying and recommending enhancements to existing models and methodologies
• Knowledge of life insurance standards of practice and reserving principles

Nice-to-Have:

• Knowledge of Tableau, SQL and Python
• Prior working knowledge of modeling Universal Life and Segregated fund (variable annuities) products

What’s in it for you?

• A Total Rewards program that includes flexible benefits, work/life balance and career development programs and investment and retirement savings plans
• Competitive pay and high-earning potential
• All the tools, training, and team support you need to grow your business and career
• Flexible work/life balance options
• Sophisticated RBCI software tools to boost your productivity and grow your business

Job Skills

Actuarial Modeling, Actuarial Services, Critical Thinking, Industry Knowledge, Insurance Finance and Actuarial Concepts, Multi-Level Communication, Probability Theory, Risk Analysis Management, Risk Management, System Applications

Additional Job Details

Address:

MEADOWVALE BUSINESS PARK, 6880 FINANCIAL DR:MISSISSAUGA

City:

MISSISSAUGA

Country:

Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

GROUP RISK MANAGEMENT

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2025-05-07

Application Deadline:

2025-05-24

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

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