Senior Actuarial Consultant, Model Validation

iA Financial Group; Toronto; On-site; CAD 100,000 - 130,000; Full time

Job summary

A leading financial services company is seeking a Senior Actuarial Consultant specializing in Model Validation. In this role, you'll independently review critical models, ensuring they meet business needs while adhering to regulatory standards. The position demands an advanced degree and significant experience in modeling. Join a dynamic team committed to innovation within the financial sector.

Qualifications

• Minimum of 8 years' relevant experience in advanced modeling, including 3 years in model validation.
• Actuarial designation preferred, CFA, FRM, CERA as assets.
• Solid knowledge of spreadsheets, databases, and financial/actuarial applications.

Responsibilities

• Review and validate model conceptual soundness and design testing exercises.
• Produce validation reports including recommendations.
• Communicate validation results to stakeholders and senior management.

Skills

Model Validation

Advanced Modeling

Mathematical Software

Research and Analysis

Communication of Complex Results

Education

PhD or Master's in Actuarial Science, Mathematics, Statistics, Computer Science, Financial Engineering

Tools

Spreadsheets

Databases

Job description

Job Description

Actuary / Quebec City / Montreal / Toronto

The Senior Actuarial Consultant, Model Validation will be responsible for independently reviewing and challenging the suitability of models deemed critical to the organization. He/She will be a key participant in the development, implementation and maintenance of the company's model risk governance framework. The Senior Actuarial Consultant will report to the Director, Risk Analytics and Model Validation and will be part of the Risk Management and Compliance Group.

Main responsibilities:

• Review, verify and validate model conceptual soundness, design testing exercises and model limits.
• Ensure that the model meets business needs and is fit for purpose, while complying with regulatory and internal requirements.
• Examine the performance and optimal use of the model.
• Develop tools to compare and reproduce model results for validation purposes.
• Ensure that changes in markets, products, exposures, activities, customers or business practices do not create new or emerging model risks.
• Produce a validation report including results and recommendations for each model validated.
• Communicate model validation results to key stakeholders and senior management.
• Follow-up on remediation plans and ensure that recommendations are closed according to established deadlines.
• Contribute to the planning of periodic model validation.
• Participate in the development and maintenance of a model inventory and model risk assessment.
• Communicate standardized model risk management practices within the company.
• Develop and maintain validation procedures.
• Participate in the independent review of ESCAP and TCM reports from the various Group entities.

Profile required:

• Minimum of 8 years' relevant experience in advanced modeling, including a minimum of 3 years in model validation.
• Advanced degree (PhD or Master's) in actuarial science, mathematics, statistics, computer science, financial engineering or other quantitative field.
• Actuarial designation is preferred and CFA, FRM and CERA designations would be considered assets.
• Solid knowledge of spreadsheets, databases, mathematical software and/or related financial/actuarial applications and programming languages.
• Ability to learn new platforms quickly, including new and different models undergoing validation, including reproducing complex calculations from first principles.
• Ability to research and analyze problems, synthesize technical information and communicate complex results through written reports and interactions with model owners.
• Self-motivation, discipline, focus on tasks at hand; ability to structure and present high quality work within short deadlines.
• Good understanding of products offered in the life and general insurance sector.
• Good understanding of regulatory expectations for model risk management within financial institutions.
• Advanced level of English language skills as the person will be required to attend and lead meetings, write reports, make analyses and presentations with English-speaking internal partners, on a weekly basis.

Location(s) Québec, Québec Other Possible Location(s) Montreal, Quebec, Toronto, Ontario, Vancouver, British Columbia
Company

iA Financial Group

Posting End Date 2025-06-27 Company Overview

iA Financial Group* is the strength of a company with a human side, with its over 8,000 employees. Together, we have earned the trust of our more than four million clients and 25,000 advisors who have chosen us for their insurance, savings, and wealth management.

With over $200 billion in assets and half a billion invested in technological innovation, we’re a key player in the financial services industry in Canada and the United States. The secret to our success? Investing in you, one person at a time. Because, for over 125 years, we have believed that it’s by supporting our employees and surrounding ourselves with the most reputable leaders in the industry, we will continue to innovate.

At iA, we’re invested in you.

* iA Financial group includes the following entities: iA Services financiers, iA assurance auto et habitation, iA Gestion privée de patrimoine, PPI Management, Investia, iA Gestion de placements, Prysm, iA Clarington, Michel Rhéaume et associés, Garanties Nationales, WGI Manufacturing, WGI Service Plan Division, Lubrico, iA Financement auto Our Commitment to Diversity and Inclusion

At iA Financial Group, we support and celebrate diversity. We strive to provide a workplace that is recognized as inclusive for all, regardless of ethnic origin, nationality, language, religious beliefs, gender, sexual orientation, age, marital status, family situation, or physical or mental disability.

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