Senior Actuarial Specialist, P&C Products and Solutions
Purpose of Position
Accountable for providing strategic and actuarial expertise, advice and recommendations in the development, review and implementation of the overall actuarial projects strategy for the effective regulation of the automobile industry in Ontario.
- Leads the delivery of P&C product solutions on a wide range of actuarial projects with focus on ratemaking, reserving, financial reporting, and regulatory benchmark, and other emerging topics in P&C sector.
- Supports other program areas within FSRA, including Policy, Legal, Prudential and Market Conduct, in the development of FRSA’s principles based and outcome focused regulation approach for the effective supervision of P&C insurance sector.
- Supervises and overseeing the transformation of P&C product solutions as a result of the introduction of IFRS17 and other emerging issues in P&C sector.
- Supervises and oversees big data analytics and advanced modeling techniques used in P&C sector in the area of ratemaking and beyond ratemaking, leading the development of data and modeling governance and expectation for FSRA’s regulated entities by collaboratively working with Risk Classification, Products and Expenses team.
- Supports and coaches other team members with the latest actuarial techniques and industry business insight for the goal of achieving effective performing team.
- By utilizing actuarial knowledge and business and project experience, leads the conceptualization, development, implementation, evaluation and negotiation of strategies and directions to drive FSRA’s P&C sector policy agenda, legislative/regulatory framework and reforms.
- Acting as FSRA’s P&C expert, including in the areas of insurance regulation, benchmarks, legislation, policy and programs.
- Plans, manages and provides actuarial expertise and acts as a special advisor in the development, implementation and revision of FSRA P&C sector’s legislation, policies, processes to support reforming rates and underwriting regulation in Ontario.
Education and Experience
- Bachelor’s degree in Statistics, Mathematics, Actuarial Science or Data Science, or related field.
- Associate of the Casualty Actuarial Society and/or the Canadian Institute of Actuaries, or with evidence of strong initiative of pursuing these actuarial credentials.
- Prior experience in Statistics, Mathematics, Actuarial Science, Data Science, or Modeling is an asset.
- Prior experience in project management and delivery of business solutions is an asset.
- Minimum of 5 years of demonstrated senior level sector experience and competencies relevant to the purpose of the role, regulatory experience a strong asset.
Knowledge and Skills
- Knowledge of actuarial standards, principles, and practices as well as knowledge of P&C insurance products, reserving, modeling, or financial reporting
- Understanding of FSRA’s mandate, business plan and principles risk-based approach to auto insurance regulation to act as FSRA’s senior actuarial specialist in P&C product solutions.
- Proven leadership skills to establish/lead P&C projects, and effective communication and engagement with internal and external stakeholders.
- Proven relationship management and consensus building skills to develop and maintain key stakeholder relationships and partnerships.
- Written and verbal communications skills to convey technical matters in a comprehensive and easy-to-understand manner.
- Standard actuarial and other business and statistical software, including computer systems for specialized data and financial analysis.