Manager Actuarial Services - Toronto, Canada - Workplace Safety and Insurance Board

Workplace Safety and Insurance Board

Verified Company

Toronto, Canada

1 week ago

Posted by:

Sophia Lee

beBee Recruiter

Description

As a member of the actuarial management team, lead and manage a team of actuarial staff, in delivering reliable, accurate, comprehensive and timely actuarial services to internal and external clients.

Core actuarial services includes valuation of benefit liabilities, funding, financial forecasting, premium rate setting, administration rate setting, benefit costing, experience studies and determining/administering the experience rating programs.

Provide sound actuarial advice to WSIB Actuarial Senior Management (Executive Director & Chief Actuary) by providing actuarial models that are accurate and reliable.

Develop and maintain communication linkages and relationships with business partners.

Major Responsibilities:

Direct, review and provide technical expertise on actuarial work performed by the staff

This includes:

Providing advice and guidance on the methods, models and assumptions used
Analyzing and validating the results of work produced by project teams for reasonableness and accuracy,
Ensuring timelines are met especially for quarterly and annual reporting

Key functions include:

Valuation of Benefit Liabilities (Schedule 1 & 2)
Financial implications on Experience Rating Programs (CAD7, NEER, MAP, SG)
Schedule 1 Premium Rates and Schedule 2 Administration Rate setting
Funding and Financial Forecasting
Preparing reports and recommendations for WSIB Actuarial Senior Management.
Keeping abreast of changes in Actuarial Practices and WSIB policies that may impact the delivery of actuarial services.
Presenting actuarial estimates to external stakeholders such as employers, auditors, and other actuaries. Actuarial studies and findings are routinely presented and explained to both internal and external stakeholders.
Participating in meetings, presentations and information sessions with internal and external clients.
Lead or Participate in the design, review, validate and report on experience studies, costing of legislative changes and special projects. Experience studies are used to validate or set assumptions for actuarial models.

Studies and special projects includes:

Mortality studies, termination studies, occupational disease studies, health care studies, future administration cost studies and economic Studies
Preparation for presentations to WSIB BoD, senior management, Ontario government or other external actuaries or employers.
Special projects (Modeling changes, Earnings by Source, New Pricing or Funding systems/methods, New Accounting Standards)
Costing includes changes in administrative and legislative practices and policies

Plan, manage and develop actuarial staff, which includes:

Annual/monthly planning of projects and priorities
Identifying resource requirements
Allocating work efficiently and effectively
Recruiting
Establishing performance objectives and conducting performance reviews
Maintaining competitive actuarial development plans and approving staff expenses and study times

Develop and maintain communication linkages and relationships with different stakeholders:

Internally with business partners and other levels of management in different areas such as: Operations, Strategy, Chief Statistician Office, Communications, Business Technologies and Finance. Externally with employer stakeholders, injured worker stakeholders, auditors and actuarial consultants
Maintains membership and participate in actuarial associations to ensure the most uptodate techniques and methodologies are employed at the WSIB
Liaise with other Workers' Compensation Boards, government agencies, stakeholders, health and safety organizations, industry groups and organizations to be conversant with developments and issues affecting workers' compensation

Job Requirements:

1.

Education:

University Degree in Actuarial, Finance, Investment or related field.

2.

Experience:

5+ years actuarial practice in the insurance industry or similar organization
Management or Project Lead experience of at least 2 to 5 years.

3.

Technical or Professional Qualifications or Certifications / Designations:

Fellowship from Society of Actuaries/Canadian Institute of Actuary or
Associate of Canadian Institute of Actuary / Casualty Society (or equivalent Actuarial credential) plus WCB experience (15+ yrs)

Our commitment to equity, diversity and inclusion
We respect and value the diversity of our people. We strive to create an environment where employees can be themselves and where our differences are celebrated.

The WSIB is committed to being accessible and inclusive, and following barrier-free and accessible employment practices in compliance with the Accessibility for Ontarians with Disabilities Act (AODA).

Should you require accommodation through any stage of the recruitment process, please let us know when we contact you and we will work with you to meet your needs.

Disclosing conflicts of interest
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