Actuarial Associate - Toronto, Canada - BMO Financial Group
Description
60 Yonge Street Toronto Ontario,M5E 1H5
Executes the calculations and analysis required for regulatory and management reporting and provides support to the actuarial production of work.
- Develops solutions and makes recommendations based on an understanding of the business strategy and stakeholder needs.
- Provides advice and guidance to assigned business/group on implementation of solutions.
- Conducts independent analysis and assessment to resolve strategic issues.
- Builds effective relationships with internal/external stakeholders.
- Ensures alignment between stakeholders.
- Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
- Provides input into the planning and implementation of operational programs.
- Leads/participates in the design, implementation and management of core business/group processes.
- Identifies business needs, designs/develops tools and training programs; may include delivery of training to audiences.
- Assists with the calculations required for the opinion on the various Appointed Actuary legal responsibilities.
- Checks and reviews various outputs from models used as the basis for the Appointed Actuary's opinion. Opinions are required for the value of actuarial liabilities held on the Balance Sheet, annual opinion on the ongoing solvency of BMO Insurance (DCAT Reports), quarterly regulatory capital calculations, and annual Participating Policyholder Bonus recommendations. All opinions are under detailed scrutiny by OSFI, BMO Insurance Boards of Directors, internal and external auditors.
- Reviews and analyzes actuarial issues for presentation to the Appointed Actuary for signoff. Includes review of new product initiatives, review of economic capital calculations, review of financial business plans and additional actuarial support for risk, legal, policyholder services and other areas.
- Focus is primarily on business/group within BMO; may have broader, enterprisewide focus.
- Exercises judgment to identify, diagnose, and solve problems within given rules.
- Works independently on a range of complex tasks, which may include unique situations.
- Broader work or accountabilities may be assigned as needed.
Qualifications:
- Typically between 6 years of relevant experience and postsecondary degree in related field of study or an equivalent combination of education and experience.
- ASA designation.
- Strong knowledge of various systems (Ingenium, Excel, Access).
- Previous hands on experience with AXIS preferred.
- Strong understanding of IFRS 1
- Minimum of 2+ years' experience.
- Working understanding of Corporate Reporting Process (Valuation, Projections) and/or pricing analysis methodology & reporting.
- Working product knowledge of Traditional, Term, and Universal Life products.
- Technical proficiency gained through education and/or business experience.
- Verbal & written communication skills
- Indepth.
- Collaboration & team skills
- Indepth.
- Analytical and problem solving skills
- Indepth.
- Influence skills
- Indepth.
- Data driven decision making
- Indepth.
We're here to help
At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.
As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact.
We'll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs.
From in-depth training and coaching, to manager support and network-building opportunities, we'll help you gain valuable experience, and broaden your skillset.
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