At a Glance
- Tasks: Lead actuarial inputs for income recognition and support IFRS 17 implementation.
- Company: Dynamic insurance company focused on innovation and collaboration.
- Benefits: Competitive salary, hybrid work model, and opportunities for professional growth.
- Other info: Flexible work hours and minimal travel required.
- Why this job: Make a real impact in the insurance industry while working with experienced professionals.
- Qualifications: 7+ years of experience in actuarial roles, preferably in insurance with ACAS designation.
The predicted salary is between 100000 - 138000 $ per year.
The role of the Actuarial Lead - Insurance is responsible for providing all actuarial inputs for income recognition for actual and forecast models. He/she will be responsible for providing regular updates on loss curves vs. priced and performing comparison of actual to priced loss ratios on a quarterly basis. Understand and support the IFRS 17 changes related to insurance products.
Reports: Senior Director, Finance Insurance
Role classification: Hybrid
Contract: Maternity Leave replacement
Possible Tasks within this Role:
- Support the implementation of IFRS 17 for the insurance products (30%)
- Understand and provide effective challenge on pricing and reserve calculation for auto insurance products (20%)
- Collaborate with the Risk Management Planning and Reporting Group, Accounting and senior management in establishing adequate loss provisions for insurance products (10%)
- Engage with CFO, VP of Finance and Chief Risk Officer, Accounting, Risk Management, Brand executives and external auditors to gain acceptance on the loss and reserve forecasts. Provide technical and operational support to auditors to ensure successful audit close (10%)
- Be able to extract data from data warehouse for insurance products and perform analysis on upcoming issues/trends (10%)
- Providing all actuarial inputs for income recognition for actual and forecast models (10%)
- Regular updates on loss curves vs. priced. Perform comparison of actual to priced loss ratios (10%)
Qualification requirements:
- Years of experience: 7 years minimum
- At least 5 years working as an actuary in the insurance industry and having an ACAS designation
- Desired: 3 years working in auto insurance industry with knowledge of auto insurance products
Education:
- Desired: Master’s Degree in related field
Specialized Skills:
- Support a robust pricing and/or reserving review process for insurance business, including both standard actuarial techniques and advanced modeling
- Develop indications and communicate them to Actuarial Management and Senior Leadership
- Work collaboratively as a part of the broader Pricing and/or Reserving process
- Develop and communicate business analytics to Senior Leadership
- Foster innovation within the team and across the broader organization
- Support development of themselves and other associates in an actuarial capacity and according to VCI vision and mission statement
Work Flexibility:
- Minimal travel – 5%
- Flexibility to work remotely on as-needed basis
- Role may require occasional/seasonal work outside of normal working hours
The salary range for this role is $100,000 - $138,000. Actual pay may vary based on experience, education, and internal compensation practices.
This posting represents an existing vacancy that we are actively seeking to fill.
Actuarial Lead in Pickering employer: Volkswagen Financial Services Canada
Volkswagen Financial Services Canada is an exceptional employer that fosters a collaborative and innovative work culture, particularly in the dynamic field of actuarial science. With a hybrid work model, employees enjoy flexibility while contributing to meaningful projects like IFRS 17 compliance, alongside opportunities for professional growth through engagement with senior leadership and cross-functional teams. The company's commitment to employee development and its supportive environment make it an attractive place for those seeking a rewarding career in finance and insurance.
Contact Details:
Volkswagen Financial Services Canada Recruitment Team
