Managing Director, Actuary

University Pension Plan Ontario; Toronto; Hybrid; CAD 150,000 - 200,000; Full time

Job summary

A leading pension organization in Toronto is seeking a Managing Director, Actuary to lead the actuarial function. This role involves providing strategic leadership on actuarial liabilities and compliance, ensuring accurate information for decision-makers. Candidates must have at least 15 years of relevant experience and strong communication skills. The position offers a flexible hybrid work policy and a comprehensive benefits package.

Benefits

Defined benefit pension plan

Flexible hybrid work

Work from abroad up to 8 weeks/year

Comprehensive health benefits

Mental health and wellness coverage

Education assistance

Qualifications

• 15+ years in pension consulting or related experience.
• Expertise in CIA standards and pension types.
• Proven success in managing complex projects.

Responsibilities

• Advise CEO, Board, and governance committees on actuarial implications.
• Ensure compliance with legislation, standards, and regulations.
• Manage the actuarial team and promote best practices.

Skills

Leadership

Actuarial expertise

Communication

Stakeholder engagement

Education

Degree in actuarial science or statistics

Fellow of the Canadian Institute of Actuaries

Job description

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Our Company Background & Culture

UPP is the first pension plan of its kind in Ontario’s university sector, proudly serving over 41,000 members across five universities and fourteen sector organizations. Our purpose is to bring greater retirement peace of mind to the university sector by investing with integrity and serving members with care. As a sector-wide plan designed for growth, our doors are open to all Ontario universities.

Together, we’re a team of progressive thinkers and agile doers operating within a culture of collaboration and respect. We believe in bringing smart and capable people together to create, solve, and grow with shared values of integrity, inclusivity, ingenuity, and impact. Our culture is welcoming and rooted in equity, diversity, inclusion, and reconciliation (EDI&R). We believe diverse teams and perspectives contribute to better decisions and a better workplace.

As a pension plan, UPP approaches investing with a long-term lens to generate and safeguard value. Our commitment to responsible investing considers material risks to achieve sufficient risk-adjusted returns to meet our members’ pension needs.

Join us in building a bright future for our members, our organization, and each other.

The Role

Reporting to the Chief Financial Officer and as a member of the UPP Senior Leadership Team (‘SLT’), the Managing Director, Actuary (MD, Actuary) will lead the actuarial function, providing strategic leadership on actuarial liabilities, analysis, and decision-making.

The MD, Actuary will ensure senior leaders, the Board of Trustees, and Sponsors have accurate and timely information on actuarial liabilities, supporting funding analysis and strategic decisions.

The ideal candidate is a nimble, resourceful leader with a broad and deep understanding of pension actuarial matters, industry contacts, and experience with pension-based strategic asset allocation. They should be able to communicate complex insights effectively to decision-makers.

This role also supports a culture of meaningful work, employee engagement, and inclusive leadership, and participates in UPP’s Enterprise Risk Management program.

This position is based in downtown Toronto with a hybrid work policy, allowing remote work with approximately two days in-office per week.

Key Responsibilities

Strategic Advisory

• Advise CEO, Board, and governance committees on actuarial implications of funding, demographic trends, and legislative changes.
• Set and oversee strategic direction of actuarial processes, ensuring structured decision-making.
• Review and challenge actuarial strategies, proposals, and assumptions.
• Oversee talent development within the actuarial team, including succession planning and mentorship.

Governance

• Provide actuarial expertise to the Board of Trustees and plan Sponsors.
• Support decision-making on plan changes, ensuring understanding of cost and risk implications.
• Assist CFO with financial and compliance reporting, including risk sharing analysis.
• Ensure alignment of benefit, funding, and investment policies, and analyze investment portfolio assumptions against liabilities.
• Support Board education on actuarial matters and promote risk awareness.

Compliance and Reporting

• Ensure compliance with legislation, standards, and regulations.
• Lead actuarial disclosures and filings with regulators.

Engagement and Influence

• Build relationships with external partners, regulators, and industry associations.
• Represent UPP in industry groups and stay informed on external risks and trends.
• Collaborate with stakeholder groups for transparency and understanding of actuarial matters.

Team Leadership

• Manage the actuarial team, ensuring performance and resource allocation.
• Promote best practices in actuarial modeling and controls.

Partnership and Relationship Management

• Maintain relationships with internal teams, external actuaries, and stakeholders.
• Align actuarial insights with organizational priorities.

Qualifications & Experience

• Degree in actuarial science or statistics from a recognized university.
• Fellow of the Canadian Institute of Actuaries or relevant designation, preferably SOA.
• 15+ years in pension consulting or related experience.
• Expertise in CIA standards, legislation, and pension types.
• Experience with plan mergers and within the university sector is a plus.
• Knowledge of PBA, funding, and accounting implications.
• Proven success in managing complex projects and stakeholder engagement.

Life at UPP

We do work that matters, with a focus on sustainability and serving our members’ interests. We foster collaboration, growth, and inclusivity in our culture.

Benefits

Our inclusive benefits include:

• Defined benefit pension plan
• Flexible hybrid work
• Work from abroad up to 8 weeks/year
• Comprehensive health benefits
• Paramedical, mental health, and wellness coverage
• Fertility, parental leave, gender affirmation coverage
• Education assistance

We welcome applications from all qualified candidates, especially those from groups facing barriers to employment. We are committed to accessibility and accommodation throughout the process.

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