Actuarial Analyst Iii - Toronto, Canada - TD Bank

TD Bank

Verified Company

Toronto, Canada

1 week ago

Posted by:

Sophia Lee

beBee Recruiter

Description

400232BR

Insurance

Toronto, ON

February 21, 2023

Company Overview

Department Overview

TD Insurance is part of TD Bank Group, one of Canada's largest financial institutions.

TD Insurance helps protect clients from the 'accidents of life' with a wide range of products including credit protection, life, health, travel, home and auto insurance.

With more than three million clients, TD Insurance authorized products and services are available online, over the phone, and through a network of more than 1,000 TD Canada Trust branches.

In Canada, we have two lines of business, General Insurance and Life and Health.

Our General Insurance business is one of the top home and auto insurance groups in Canada and the national leader in group insurance and affinity marketing.

Our Life and Health business is the number one provider of critical illness insurance and direct life and health insurance in Canada.

At TD Insurance, we are committed to fostering an inclusive, accessible environment.

With a Canada-wide workforce of over 4,000 employees and offices in Atlantic Canada, Quebec, Ontario and Alberta, our company is always growing and can help you to grow.

TD Insurance offers a stable and dynamic work environment where talent is appreciated and professional development is taken seriously. More than just a job, we offer rewarding careers.

Job Description:

GI Pricing oversees the overall pricing strategy of general insurance products that aligns with TD Insurance's business objectives in compliance with jurisdictional premium regulations.

Pricing is a determining component of our home and auto insurance products that cater to direct and affinity markets.

Reporting to the Pricing Manager, the Senior Actuarial Analyst plays a key role in the end-to-end development of pricing strategies and rate changes.

The Senior Analyst contributes to the on-going and future success of the company may it be through the establishment of pricing strategies for all products and all insurers for a given region, the development of models, methodologies and tools, the monitoring and measurement of rate levels and effectiveness though rate-indication activities, and/or the execution of planned pricing and business initiatives utilizing best governance practices.

Responsibilities

Develop pricing strategies by market and product to reach growth and profitability objectives:
Supervise analysis performed by analysts to develop detailed pricing strategies for each market and product based on actual claim experience and the organization's competitive positioning.
Generate ideas in the development of strategies to accelerate profitable growth and supervise and execute their implementation:
Optimization of our cession strategies to the Risk Sharing Pools;
Pricing strategies that will create a competitive advantage;
Initiatives to improve our customer segmentation in order to reach objectives, taking into consideration competitive and regulatory constraints;
Identify aboveaverage profitability customer segments for the purpose of targeted marketing efforts;
Development of models for evaluation and measurement of customers' price elasticity and behaviors.
Provide support to obtain necessary approvals from regulatory boards;
Prepare rate change documents according to mandated standards as required by rating boards for pricing changes ;
Answer questions received from regulators during the revision process;
Support negotiations with regulatory instances to obtain rate change approvals.
Support the implementation of approved rate changes;
Ensure that appropriate measures are in place to confirm the accurate pricing of all issued policies (compliance and reputational risks).
Support and supervise analysts within the team
Establish and maintain relationships with our partners and liaise with internal and external stakeholders
Support our business partners for pricing related issues

Requirements:

What can you bring to TD? Tell us about your most relevant experience, credentials and knowledge for this role, as well as these requirements and desired attributes:

University degree
Five (5) or more years of related experience
Working towards a Fellowship
Ability to analyze, research, organize and prioritize work while meeting multiple deadlines
Ability to collaborate and build positive relationships
Ability to communicate well in writing and speaking

Additional Information

Over five years of actuarial experience in Property & Casualty
Bachelor degree in Actuarial Sciences or related field
Fellow of the Casualty Actuarial Society (FCAS) designation obtained or in the process of being awarded
Excellent knowledge of Excel
Knowledge of SAS programming language
Predictive modeling is a large asset
Leadership and strong aptitude for team work
Ability to develop and empower top talent
Customercentric
Ability to communicate effectively in French and English, both verball