Senior Actuarial Consultant

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OVERVIEW OF ROLE

As a member of Actuarial Services Management within the Auto/Insurance Products Team, you will plan, lead and conduct highly technical actuarial research for the development and implementation of actuarial models, standards and methodologies to support policies initiatives related to the control of automobile insurance costs in Ontario.        

 

Additional duties will include:

  • Reviewing automobile rate filing applications by insurers, including rate level adequacy, ratemaking processes, modeling procedures, and segmentation analysis.
  • Overseeing production of CLEAR rate group tables, reviewing the existing table generation process, and developing suggestions for improvement.
  • Communicating and interacting with insurers and industry stakeholders regarding rate filing practices.
  • Preparing and performing internal presentations regarding work processes and developments.
  • Providing expert actuarial advice on the development and management of statistical information to support deliberations and decisions of the Board of Directors and committees of the General Insurance Statistical Agency, an independent inter-jurisdictional automobile insurance agency.
  • Leading consultations and projects for the collection, actuarial analysis and reporting of statistical data from the auto insurance industry including the study of the behavior effect of Ontario automobile insurance stakeholders on insurance costs. 
  • Providing expert and professional actuarial advice to FSRA senior management related to actuarial methods and standards and trends/issues in the Ontario auto insurance industry which impact FSRA policy including  anti-fraud and insurance regulatory actions based on actuarial analyses and model results. 
  • Conducting research and advice on changes to solvency risk standards and risk factors developed by financial institutions.
  • Providing technical leadership to actuarial staff on methodologies for the accurate review and analysis of auto insurance and insurance fraud data and the application of varied actuarial models for the development of assumptions and policy recommendations. 
  • Leading projects related to the development, analysis and implementation of FSRA actuarial policies, procedures, processes, systems and standards. 

 

QUALIFICATIONS

Mandatory Requirement:

Fellow of the Canadian Institute of Actuaries and a Fellow of the Casualty Actuarial Society

 

Specialized Knowledge and Experience

  • Demonstrated knowledge of actuarial and statistical analysis principles and methods involving property and casualty insurance and proven experience in managing a large-scale actuarial database Ontario Auto Insurance Ratemaking.
  • Demonstrated knowledge of risk management to insurance operations and in regulatory framework through successful completion of Certified Enterprise Risk Analysts (CERA) in OAS or SOA.
  • Demonstrated knowledge of the purpose and application of statistical plans in rate making, reserving principles, financial review and statutory statements, automobile insurance classifications, insurer/profitability and solvency tests.
  • Demonstrated knowledge of current auto insurance emerging issues and trends to advise senior management on auto insurance regulatory and anti-fraud matters.

 

Skills

  • Proven leadership and project management skills to lead rate filing reviews and actuarial projects and initiatives, which are often large-scale, complex and high profile and to provide technical leadership to unit actuarial staff.
  • Proven judgement and communication skills to present results to a non-technical audience.
  • Proven verbal communication, presentation and consultation skills to lead consultations with representatives in the auto insurance industry, actuaries and to provide authoritative briefings, advice and recommendations to FSRA senior management.

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