JOB POSTINGS

Join the Ontario Mutual Automobile Plan (OMAP) team and experience the passion it takes to empower and advance our mutual insurance community! We have an excellent opportunity to join one of Waterloo Region’s top employers as a Manager, Actuarial in our Ontario Mutual Automobile Plan (OMAP) department. With this position, you will have the opportunity to join a culture that takes pride in being honest, delivering on promises and is committed to doing what is right. OMAP is a department which provides product, underwriting, actuarial, regulatory, and systems support to a group of Ontario Mutual Insurance Association (OMIA) companies that underwrite automobile insurance in Ontario and have elected to do a common filing with the Financial Services Regulatory Authority (FSRA). This group of 30 mutual insurance companies writes a combined annual automobile insurance premium base of approximately $350M. The Manager, Actuarial will report directly to the VP of the Ontario Mutual Automobile Plan (OMAP). The successful individual will be a pivotal member of the department, responsible for delivery of actuarial rate indications and statistical models supporting the Ontario Mutuals’ shared automobile insurance product. Auxiliary responsibilities include communicating proposed changes with business partners, providing input on product, underwriting rules, and growth strategy, and keeping updated on a changing regulatory and competitive market environment. This position offers a hybrid work schedule. In-office frequency is usually 2-3 days per month. The Role: The successful candidate can expect to:

• Train and develop actuarial analysts, conduct performance reviews, and provide coaching
• Complete rate filings with the regulator (complete actuarial rate indications [including determination of loss trends, premium trends, on-leveling, loss development factors, and sensitivity testing], justify rate change proposals, complete filing requirements in ARCTICS and respond to questions from the regulator)
• Perform exploratory data analysis and use analytics software to make predictive models and monitor performance on auto pricing and related KPIs (closing rates, retention, telematics, etc…)
• Clearly communicate proposed changes to business partners, and answer colleague and stakeholder questions to ensure the intent of changes is properly understood
• Provide input on product, underwriting rules and growth strategy
• Keep updated on a changing regulatory and competitive environment

Your Skills and Qualifications:

• A degree in actuarial science, statistics, or another related field
• FCAS or near-FCAS designation. Experienced ACAS candidates may also be considered.
• At least 5 years’ experience in an actuarial role, including at least 2 years of experience in auto pricing
• Prior experience completing auto rate filings with FSRA, or other provincial regulators
• Expert proficiency using excel spreadsheets and working knowledge of business intelligence tools
• Experienced in a variety of data processing and programming languages, primarily R and including any of SQL, VBA, C-based languages, Python, etc.
• You possess strong communication and relationship management skills, including presenting data to non-technical audiences and presenting proposals and results to executive audiences

Join Our Team! Recognized as one of Waterloo Area’s Top Employers 2024 as well as one of Canada’s Greenest Employers 2024, at Farm Mutual Re we are committed to inclusion for all and cultivating belonging where everyone can be their authentic and best selves. Operating since 1959, Farm Mutual Re is a general reinsurer, sharing in the property, automobile, liability, and other risks originally accepted by insurance companies operating principally in Canada. We’re passionate about empowering and supporting our employees and business partners. Our relationships are the foundation that helps us advance the mutual insurance community. We take pride in giving back to our community and the environment. We hold ourselves accountable for the promises we make to our members, employees, and valued business partners. Our office is in Cambridge, Ontario off the 401 in a state-of-the-art, environmentally friendly building. Our employees enjoy perks including complimentary access to an on-site gym, a variety of fitness classes and wellness sessions, as well as the flexibility to work remotely as we embrace the modern hybrid work environment. Our culture is supportive of achieving a balanced and healthy lifestyle. In addition to a great working environment, we invest in our employees continued professional development, offer a competitive salary, employer-paid benefits, pension plan and more. How to Apply: Don’t miss this opportunity to join our team. Visit our website and complete our Employment Application found on our Careers page. In accordance with our company values, Farm Mutual Re is committed to creating an equitable, diverse, and inclusive work environment for all as well as to providing accommodations and achieving a barrier-free workplace. Should you require an accommodation to participate in our recruitment process, please contact recruitment@farmmutualre.com.

Work Location:
Toronto, Ontario, Canada

Scheduled Weekly Hours:
36.25

Time Type
Full time

Time Left To Apply
End Date: April 25, 2025

At FSRA, our vision is to ensure financial safety, fairness, and choice for Ontarians. As a financial services regulator, we’re passionate about protecting consumers. Our principles-based approach means we can quickly and effectively respond to the changing needs of consumers and the industry.

Our team combines industry expertise with commitment to public service. We attract individuals who are interested in meaningful work and who measure success through outcomes, not inputs.

At FSRA, we invest in the personal and professional growth of our team. We offer a competitive compensation package that includes an employer-matched defined benefit pension plan, comprehensive and competitive benefits plan, a hybrid work model and flexible work arrangements. We prioritize learning and development, well being, diversity, equity, inclusion and belonging, and community giving.

Join FSRA and help us shape the future of regulation for generations to come!

Job Description:

Purpose of Position

Accountable for providing leadership in the delivery of actuarial programs, services or initiatives in support overall Auto/Insurance Products strategies.

Key Responsibilities

• Oversees the development and implementation of actuarial programs/services/initiatives, including strategies, plans, methods, tools, and processes to meet the overall strategic plans and priorities of Auto/Insurance Products (e.g., actuarial review process for rate filing applications and related requirements, review/assessment of predictive models, etc.).
• As a member of the FSRA leadership team, contributes to the FSRA strategy and development of tactics; and provides leadership in executing programs, services or initiatives to deliver on the strategy.
• Plans and manages the delivery of actuarial programs/services/initiatives, ensuring consistency with overall Auto/Insurance Products performance measures, standards, and best practices and integration with overall FSRA directions.
• Leads the identification, development, and execution of data requirements of auto insurance rate filing for actuarial review and automobile insurance statistical plans in support of the regulation of auto insurance and other insurance products while ensuring actuarial rate review systems, procedures, and standards are consistent with actuarial standards.
• Accountable for identifying and driving government-led auto insurance product reforms.
• Leads and facilitates strategic, constructive conversations with industry stakeholders, including senior actuarial expertise and senior management teams of property insurance companies, on the interpretation of FSRA guidance. Sets expectations and outlines requirements to guide insurers in continuously achieving fair consumer outcomes from a quantitative perspective, building and maintaining trusted relationships.
• Designs, develops, and leads industry working groups in the delivery of FSRA working products such as annual review guidance, benchmark development, reform costing analysis, and fairness assessments.
• Provides actuarial expertise and advice to FSRA management and staff in response to issues and risks to achieving FSRA mandate, providing evidence-based recommendations for change.
• Manages the section and its staff to support an environment and culture of service excellence which respects diversity, encourages all employees to work together to achieve results and contribute to a healthy, rewarding and productive working environment where personal and team accountability are key to meeting the mandate of FRSA.
• Accountable for building a strong team including hiring, orienting and training staff, determination of performance standards and conduct of performance reviews, and managing employee relations matters.
• Accountable for the management of the section budget including the budget for external consultants and consulting contracts.
• Works with the Chief Actuary, Auto Insurance Operational Risk Supervision in developing overall Actuarial Services operational plans and the development and reporting on performance metrics, program effectiveness, risks and impacts related to Auto/Insurance Products and overall FSRA matters.
• Champions and leads critical change and a new collaborative, forward thinking culture within Actuarial Services, and works with others to achieve this across Auto/Insurance Products.
• Promotes and drives innovation and continuous improvement throughout Actuarial Services and across FSRA related to actuarial programs, services and initiatives.
• Leads and/or participates on projects within Auto/Insurance Products to represent Actuarial Services interests in program/service/initiative decision making.
• Works in collaboration with colleagues on department priorities for FSRA.
• Acts on behalf of the Chief Actuary, Auto Insurance Operational Risk Supervision.

Qualifications

Education and Experience

• Degree in Actuarial Science.
• Fellow of the Casualty Actuarial Society (FCAS) and Fellow of the Canadian Institute of Actuaries (FCIA).
• 8 – 10 years’ experience in planning and managing the delivery of actuarial programs, services, initiatives in a large organization, including significant experience in auto insurance pricing or related areas.
• Auto Insurance Pricing experience is strongly preferred.
• Knowledge and Skills
• In-depth knowledge of actuarial principles, standards, ratemaking, reserving methodologies, and automobile insurance governance.
• Expertise in actuarial and statistical principles and methods, particularly related to auto and property casualty insurance products.
• Ability to apply mathematical concepts, traditional actuarial models of frequency and severity, standard statistical methods, modeling and simulation techniques, trend, indexing, and financial analysis.
• Strong problem-solving skills, to be able to manage complex situations with multiple layers and resolve to solution anticipating needs now and into the future.
• Leadership skills to directly supervise all leadership positions and establish individual goals as well as build and lead high-performing teams, ensuring that all team members are aligned and collaborating to achieve organizational results.
• Excellent business acumen and interpersonal skills as well as the ability to work across the auto insurance sector at executive levels to influence and effect change to achieve common goals.
• Strong communication skills, with the ability to articulate complex concepts clearly and professionally in both verbal and written forms.

Job Posting End Date:
03/07/2025
Job postings close at 11:59pm on the date noted.

Employment Type:
Regular

FSRA is committed to ensuring equity in employment. Our goal is to create a diverse, inclusive workforce that reflects the communities we serve and to ensure our services and communications are accessible to all individuals. Accommodation is available under the Ontario Human Rights Code.

NOTE: ONLY QUALIFIED CANDIDATES WILL BE CONSIDERED

Work Location:

Montréal, Quebec, Canada

Hours:

35

Line of Business:

Data & Analytics

Pay Details:

$74,500 – $111,700 CAD

This role is temporarily eligible for a pay premium above the posted salary range that is reassessed annually. You are encouraged to have an open dialogue with your recruiter who can provide more specific pay details for this role.

TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate’s skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs.

As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Job Description

Part of the Corporate Actuarial department, the Project Development & Optimization team participates in various projects with respect to the liability valuation, strategic planning, capital and risk management team for General Insurance.

The Corporate Actuarial – Project Development & Optimization team is tasked with:

• Supporting the other teams by investigating new actuarial techniques used to determine reserves, capital and financial projections
• Developing new tools, testing new features of existing tools, participating in the deployment of these tools, ensuring sufficient control are in place and maintaining tools
• Periodically reviewing current processes, enhancing and optimizing them
• Participating in various analyses, such as profitability analysis of different segments of TD insurance portfolio or impact analysis of economic factors on future reserves
• Actively collaborating with different stakeholders within the company, such as Finance, Pricing, Reinsurance, Claims Operations and Analytics & Modelling

In the role, the candidate will have to:

• Enhance current processes to maximize efficiency
• Partake in development and implementation of reusable tools
• Assimilate research papers and demonstrate applicability to business use
• Explain highly complex problems in a concise manner
• Efficiently communicate information to colleagues and stakeholders
• Develop detailed execution plan, manage stakeholder deliverables and rigorously track the progress of multiple projects
• Coach, develop and inspire colleagues toward reaching new goals and becoming tomorrow’s leader

Analytical/Technical Skills:

• Stands out for their judgment and analytical mind
• Has strong problem-solving skills
• Skilled at anticipating the results of an analysis or a report
• Recognized for their thoroughness and the quality of their work
• Shows initiative, creativity and critical thinking in their work
• Advanced knowledge in programming languages (e.g., R, Python, SQL, VBA or other)
• Ease to learn new programing languages, software and concepts
• Strong knowledge of financial statements, the insurance industry and risk management concepts is an asset

Soft Skills:

• Ability to communicate effectively in English, both verbally and in writing
• Highly adaptable for having discussions with different stakeholders in terms of expertise, training and hierarchical position
• Ability to work effectively during periods of stress
• Ability to collaborate and build positive relationships with business partners
• Autonomous and perseverant

Professional Requirements:

• Bachelor’s degree in Actuarial science, or other quantitative area of study
• Acquired or working towards Associateship with the Casualty Actuarial Society, Canadian Institute of Actuaries or equivalent
• Minimum 5 years of Property & Casualty actuarial experience
• Experience in Corporate Actuarial is an asset

Additional Information

Bilingualism (Eng./Fr.) is considered a strong asset for this role.

Who We Are:

As part of TD Bank Group, one of Canada’s largest financial institutions, at TD Insurance, we care for Canadian families, making it easy to get the best advice, protection, and support in their moments of need, always.

TD Insurance offers a wide range of products, including General Insurance and Life and Health. More than four million customers count on us.

As the largest direct to consumer insurer in Canada, we are always innovating and providing exciting and rewarding career opportunities for our Canada-wide workforce.

Our Total Rewards Package

Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical, and mental well-being goals. Total Rewards at TD includes a base salary, variable compensation, and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off, banking benefits and discounts, career development, and reward and recognition programs. Learn more

Additional Information:

We’re delighted that you’re considering building a career with TD. Through regular development conversations, training programs, and a competitive benefits plan, we’re committed to providing the support our colleagues need to thrive both at work and at home.

Please be advised that this job opportunity is subject to provincial regulation for employment purposes. It is imperative to acknowledge that each province or territory within the jurisdiction of Canada may have its own set of regulations, requirements.

Colleague Development

If you’re interested in a specific career path or are looking to build certain skills, we want to help you succeed. You’ll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities. Whether you have a passion for helping customers and want to expand your experience, or you want to coach and inspire your colleagues, there are many different career paths within our organization at TD – and we’re committed to helping you identify opportunities that support your goals.

Training & Onboarding

We will provide training and onboarding sessions to ensure that you’ve got everything you need to succeed in your new role.

Interview Process 

We’ll reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.

Accommodation

Your accessibility is important to us. Please let us know if you’d like accommodations (including accessible meeting rooms, captioning for virtual interviews, etc.) to help us remove barriers so that you can participate throughout the interview process.

We look forward to hearing from you!

Language Requirement (Quebec only):

Maîtrise d’une langue autre que le français pour offrir du soutien ou traiter avec des employés ou des collègues qui ont besoin de services et de soutien dans une langue autre que le français.