Actuarial Manager – Insurance - Ontario, Canada - VOLKSWAGEN Group

Description

Role Summary:

The role of the Actuarial Lead - Insurance is responsible for providing all actuarial inputs for income recognition for actual and forecast models. He/she will be responsible for providing Regular updates on Loss curves vs. priced. Perform comparison of actual to priced loss ratios on a quarterly basis. Understand and support the IFRS 17 changes related to Insurance products.

Role Responsibilities:

• Support the implementation of IFRS 17 for the insurance products.(30%)

• Understand and provide effective challenge on Pricing and Reserve calculation for Auto Insurance products.(20%)

• Collaborate with the Risk Management Planning and Reporting Group, Accounting and senior management in establishing adequate loss provisions for Insurance products.(10%)

• Engage with CFO, VP of Finance and Chief Risk Officer, Accounting, Risk Management, Brand executives and external auditors to gain acceptance on the loss and reserve forecasts. Provide technical and operational support to auditors to ensure successful audit close.(10%)

• Be able to extract data from data warehouse for Insurance products and perform analysis on upcoming issues/trends.(10%)

• Providing all actuarial inputs for income recognition for actual and forecast models .(10%)

• Regular updates on Loss curves vs. priced. Perform comparison of actual to priced loss ratios(10%)

Experience:

Required

• 7 years minimum

• At least 5 years working as an actuary in the Insurance industry
Desired: 3 years working in Auto Insurance Industry with knowledge of Auto Insurance products.

Education:

Required –

• Bachelor's Degree in a quantitative discipline: Statistics, Mathematics, Economics, Operations Research.

General Skills:

• Ability to conduct large scale projects and research through all stages: concept formulation, definition of metrics, determination of appropriate methodology, research evaluation and final research report

• Specialized ability to communicate highly technical subjects to the senior executives and others who have limited background in mathematics or statistics

• Analytical and conceptual thinking – ability to understand business problems and develop data-driven solutions

Specialized Skills:

Required

• Support a robust pricing and/or reserving review process for insurance business, including both standard actuarial techniques and advanced modeling

• Develop indications and communicate them to Actuarial Management and Senior Leadership

• Work collaboratively as a part of the broader Pricing and/or Reserving process

Work Flexibility:

Volkswagen Financial Services is committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, family status, gender identity, gender expression, national origin, age, disability or any other characteristic protected by federal, or local laws. Volkswagen Financial Services is committed to accommodating applicants and employees with disabilities. Should you require an accommodation during the recruitment and selection process please advise in advance.