ABOUT THE CLIENT
Our client is a leading medium-sized insurance company, ranked among the top ten property and casualty companies in Canada. As a national provider, they pride themselves in offering a diverse range of insurance products and a dynamic team that values innovation, customer centricity and professional growth.
ABOUT THE ROLE
As the Vice President of Actuarial, you will be tasked with developing, defining and overseeing actuarial strategies while ensuring the maintenance of essential systems and data infrastructure to meet both actuarial requirements and company objectives. You will hold accountability for conducting experience analysis and establishing assumptions crucial for projecting short and long-term financial outcomes, essential for pricing, valuation, planning and risk management.
KEY RESPONSIBILITIES
- Define and implement the overall strategic direction of the Actuarial Department to align with organizational objectives.
- Responsible for actuarial activities for the organization, ensuring compliance with regulatory premium rate filings and overseeing segmentation and product pricing across all lines of business.
- Oversee actuarial reserving functions, including thorough reviews of methodologies, assumptions and models to align with industry best practices and regulatory requirements.
- Provide detailed forecasts of future reserve levels for financial planning, incorporating macroeconomic trends and industry benchmarks. Collaborate with finance teams to integrate actuarial projections into the overall financial planning framework.
- Ensure the balance of rate adequacy, accuracy and competitiveness to meet profit and revenue goals, including ongoing review of product offerings for potential gaps and risk exposures.
- Ensure compliance with accounting standards and regulatory requirements.
- Oversee the development and implementation of improved actuarial policies and procedures while providing ongoing actuarial advice and consultation.
- Develop and implement strategies to optimize capital allocation and enhance financial efficiency, collaborating with cross-functional teams to gather data and refine methodologies.
- Lead and develop a highly skilled team of actuarial professionals, fostering their growth and expertise.
- Collaborate with executive leadership to align reserving strategies with broader business objectives, actively contributing to strategic planning, budgeting, risk management, capital management, reinsurance management and actuarial pricing while ensuring compliance with regulatory premium rate filings.
EDUCATION AND EXPERIENCE
- Bachelor’s Degree in Actuarial, Statistics, Math or a related field.
- A FCAS and/or CFIA designation is required.
- Over 10 years of leadership experience in actuarial roles within the Property and Casualty insurance sector.
- Proven expertise in establishing pricing and modelling assumptions, alongside implementing procedures that consistently ensure profitability metrics.
- Extensive proficiency in actuarial formulas, loss-reserving, valuations, capital and pricing methodologies, coupled with adeptness in strategic planning and goal-setting.
- Solid background in predictive analytics and/or generalized linear pricing models.
- Outstanding interpersonal abilities enabling effective communication across all organizational levels, including the Board of Directors and external stakeholders.
- Demonstrated capability to mentor and develop an actuarial team, leading them to meet stringent deadlines successfully.
- Leads by example with a track record of notable achievements.
- Possess strong critical thinking and analytical skills.
HOW TO APPLY
To express interest in this exciting opportunity, email your cover letter and resume to:
Kelly Cline, Search Consultant
Email: kcline@feldmandaxon.com