Actuarial Risk Manager
- Brookfield Asset Management
- Downtown Toronto
- Base + Annual Bonus
- Financial – Investment
- Practice Area
- Enterprise Risk Management
- Actuarial designation
- Actuary – FCIA
Brookfield Asset Management
Brookfield Asset Management is a global alternative asset manager with over $600 billion in assets under management. We have over a 100-year history of owning and operating assets with a focus on property, renewable energy, infrastructure and private equity. Our assets are held through a growing portfolio of private funds and public, listed entities. Brookfield is publicly listed on the NYSE and TSX. For more information, please visit our web site at www.brookfield.com.
Brookfield Asset Management Reinsurance Partners
Brookfield Asset Management Reinsurance Partners Ltd. (BAM Re) is a newly established division of Brookfield, which has been established by Brookfield to own and operate a leading reinsurance business focused on providing capital-based solutions to insurance companies and their stakeholders. BAM Re will act as a strong, long-term partner to the sector, with ambitions of becoming the leading partner of choice for insurance companies in North America, the U.K and Europe. The group’s main activities will focus on delivering a wide variety of capital solutions to insurance companies and other industry participants in the life and annuity space, including reinsurance and other capital-oriented solutions.
BAM Re’s Risk Function is responsible for enterprise risk and balance sheet management for the Company. The Risk Manager – Insurance will report to BAM Re’s Chief Risk Officer and be responsible for supporting the Risk team in overseeing company-wide liability risks, focusing on assessing, monitoring, stress testing and reporting on all components of liability and actuarial risk arising from the company’s transactional and balance sheet activities.
- Monitoring and reviewing company-wide liability assumptions including longevity and mortality, lapsation, guarantees and other policyholder risks, working closely with operating company actuarial teams
- Ensure accurate and timely reporting of insurance risks to senior management on a daily, weekly and quarterly basis including valuation and stress testing using Axis in accordance with applicable regulatory and accounting practices
- Critically evaluate, develop and implement refinements to risk models for insurance risk reporting including reporting packages for management to review investment model outputs, sensitivities and results.
- Review transactions that are presented to Investment Committee and provide an overview of insurance risks and mitigants.
- Oversee ALM and liability duration, convexity and indexation exposures including the use of hedges to mitigate index risk
- Continually challenge and ensure insurance risk profile stays within agreed risk appetite through the establishment, review and monitoring of risk limits.
- Assist the broader Risk function in ad hoc projects and analysis.
- Post-secondary degree in Actuarial Science, Statistics, Mathematics, Economics, Finance or equivalent
- Completed or close to completing the Fellow of the Society of Actuaries (FSA) and the Fellow of the Canadian institute of Actuaries (FCIA) designations
- At least 5 years of progressive work experience in insurance
- Solid knowledge of life and annuity products
- In-depth experience using the AXIS actuarial system
- Experience using Microsoft Excel and VBA for Excel
- Strong oral and written communication skills
- Able to work on multiple tasks effectively and efficiently
- Motivated and resourceful to work as part of a small, dedicated team