Valuation Actuary - Individual Life

Faraday; Toronto; Hybrid; CAD 70,000 - 110,000; Full time

Job summary

An established industry player is seeking a Valuation Actuary for their Corporate Actuarial Department in Toronto. This role involves performing actuarial valuations for individual life insurance products, contributing to financial projections, and ensuring compliance with regulatory standards. You will collaborate with teams across regions, develop actuarial tools, and engage in research to enhance valuation accuracy. This position offers a hybrid work environment, allowing you to balance professional and personal commitments while making a significant impact in the insurance sector.

Qualifications

• Actuarial student or recently qualified ASA with at least 2 years of experience.
• Bachelor's degree in actuarial science, Mathematics, Statistics, or related field.

Responsibilities

• Perform actuarial valuations and analyses for individual life insurance products.
• Assist with financial reporting on a US GAAP and IFRS 17 basis.

Skills

Actuarial Science

Financial Reporting

Data Analysis

Regulatory Reporting

Communication Skills

Attention to Detail

Time Management

Education

Bachelor's Degree in Actuarial Science

Progress in SOA Exams

Tools

GGY-AXIS

Microsoft Excel

SQL

Microsoft Access

Python

R

Power BI

Job description

Shape Your Future With Us

General Re Corporation, a subsidiary of Berkshire Hathaway Inc., is a holding company for global reinsurance and related operations, with more than 2,000 employees worldwide. It owns General Reinsurance Corporation and General Reinsurance AG, which conducts business as Gen Re.

Gen Re delivers reinsurance solutions to the Life/Health and Property/Casualty insurance industries. Represented in all major reinsurance markets through a network of 38 offices, we have earned superior financial strength ratings from each of the major rating agencies.

Gen Re currently offers an excellent opportunity for Valuation Actuary – Individual Life in our Corporate Actuarial Department in our Toronto office (hybrid) or remotely for appropriately qualified individuals.

Role Description

Perform actuarial valuations and analyses for individual life insurance products in Canada. This role contributes to the accurate assessment of reserves, financial projections, and other actuarial functions specific to individual life insurance products. It reports to the lead actuary for Canada and the US Individual Life Valuation Team and collaborates with teams across regions to ensure alignment on project goals and deliverables as part of the CASLH valuation team.

• Assist with financial reporting on a US GAAP and IFRS 17 basis
• Assist with regulatory reporting for US STAT, LICAT, and Solvency II
• Develop and maintain actuarial tools and models to analyze data, enhancing management, financial, and regulatory reporting
• Analyze and interpret data to assess profitability, risks, and performance of the Canadian individual life insurance business
• Stay updated on industry trends, emerging practices, and regulatory changes impacting the Canadian insurance industry, providing insights and recommendations
• Participate in preparing financial statements, reports, and presentations related to the valuation of individual life products
• Draft the annual Appointed Actuary’s report and run dynamic capital adequacy testing
• Engage in actuarial research to improve valuation accuracy and effectiveness
• Automate models and business processes

Role Qualifications and Experience

• Actuarial student or recently qualified ASA with at least 2 years of experience
• Bachelor's degree in actuarial science, Mathematics, Statistics, or related field
• Progress in passing SOA exams towards ASA or FSA
• Knowledge of US statutory, US GAAP, IFRS 17, LICAT, and industry reserve methodologies
• Proficiency in actuarial software, preferably GGY-AXIS
• Strong skills in Microsoft Excel, Access, SQL; familiarity with Python or R and Power BI is a plus
• Excellent communication skills to convey technical concepts to diverse stakeholders
• Attention to detail and commitment to quality
• Strong organizational and time management skills
• Ability to work independently and under pressure

Our Corporate Headquarters Address

General Reinsurance Corporation
400 Atlantic Street, 9th Floor
Stamford, CT 06901 (US)

At General Re Corporation, we celebrate diversity and are committed to creating an inclusive environment for all employees. We provide equal employment opportunities without regard to race, color, sex, religion, national origin, age, disability, marital status, military service, veterans' status, citizenship, sexual orientation, gender identity, or any other protected characteristic. Reasonable accommodations are provided for qualified individuals with disabilities in accordance with the Americans with Disabilities Act.