Actuarial Associate, Summer 2023 - Toronto, Canada - BMO Financial Group

BMO Financial Group
BMO Financial Group
Verified Company
Toronto, Canada

1 week ago

Sophia Lee

Posted by:

Sophia Lee

beBee Recruiter
Description
60 Yonge Street Toronto Ontario,M5E 1H5


As a co-op/intern student at BMO, you will have the opportunity to be heard, keep growing and make a difference. **You will be part of our campus program to gain the skills and knowledge needed to take on roles similar to the description listed below.


Our student experience is designed to integrate you to the BMO team from day one by adding value in the work you do.

You will have the opportunity to participate in programs such as the Women in Technology Mentorship Program, BMO First Friend peer assignment, BMO Social Squad student-led activities, BMO U corporate learning platform and access to various Employee Resource Groups to further develop your network within BMO.


Prices insurance products with up-to-date pricing assumptions, performing cash flow testing for assigned insurance products and using the required actuarial technology.

Monitors lapse, mortality/morbidity experience on an on-going basis and provides reporting on the profitability of new products and/or product enhancements.

Provides actuarial services expertise and advisory support for all insurance products of BMO Life Assurance - from direct marketing, Life insurance through agency operations, structured settlements and group annuity contracts (known as terminal funding), SPIAs, segregated funds and other retirement and investment products.


  • Analyzes, evaluates and compares competitor insurance products for the high net worth market and other markets.
  • Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
  • Builds effective relationships with internal/external stakeholders.
  • Ensures alignment between stakeholders.
  • Analyzes company data to provide management reporting on insurance industry and internal business trends.
  • Creates and validates Excel spreadsheets to accurately reflect product values, marketing concepts and company profitability on a monthly basis, including analysis and commentary.
  • Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
  • Provides input for continuous improvement of processes and procedures to support more effective operations.
  • Provides input into the planning and implementation of operational programs.
  • Provides sales support and business expertise in the production of insurance quotes for high net worth clients and other clients upon request.
  • Performs required illustrations based on defined parameters using business judgment and makes appropriate referrals for illustrations of higher complexity and large policy over product's maximum issue limit.
  • Provides business and technical expertise when required for management reporting, special projects and technology issues.
  • Provides input into product design using actuarial experience and competitive & industry knowledge, including presenting counter proposals as required for new and existing products.
  • Provides an ongoing competitive analysis of BMO insurance products and identifies opportunities for business growth.
  • Coordinates provision of management information, according to established needs and timelines, for use in internal and external audits and for general management information.
  • Reviews progress to plans, and participates in the implementation of actions necessary to correct internal and external issues.
  • Focus may be on a business/group.
  • Thinks creatively and proposes new solutions.
  • Exercises judgment to identify, diagnose, and solve problems within given rules.
  • Works mostly independently.
  • Broader work or accountabilities may be assigned as needed.

Qualifications:


  • Currently enrolled in an actuarial science or mathematics degree program.
  • Combination of excellent analytical and mathematical skills with strong work ethic.
  • Strong software skills in MS Excel and MS Access database.
  • Knowledge of life insurance products is an asset.
  • Specialized knowledge from education and/or business experience.
  • Verbal & written communication skills
  • Indepth.
  • Collaboration & team skills
  • Indepth.
  • Analytical and problem solving skills
  • Indepth.


  • Influence skills

  • 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 strive to help you make an impact from day one - for yourself and our customers.

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 b
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