Associate Director

Job Description

What is the opportunity?

In this 14-month contract role, the Associate Director, Longevity Reinsurance will be responsible for leading the actuarial and risk management functions for the Longevity Reinsurance product line through timely and effective financial reporting, valuation of policy liabilities,  and risk management. The role also involve mentoring and developing staff in Canada.

What will you do?

  • Oversee actuarial financial reporting to ensure effective completion of all annual, quarterly and monthly actuarial processes; including but not limited to: valuation, AA Report, and income forecast. In addition, provide the business with implications of emerging financial results and related metrics, particularly earning by sources (EBS), for mortality, mortality improvement, expense and economic drivers.
  • Lead interest rate swap testing including: developing liability cash flows, preparing sensitivity testing, and determining valuation interest rates and reserve impacts
  • Lead the completion of annual and quarterly in-force extract data updates, including analysis of inforce extract file, identifying new treaties and plans, setting up GGY AXIS tables, preparing reconciliations and movement analysis, and assessing reserve impacts
  • Lead the valuation modelling with maintaining and updating GGY AXIS valuation models for monthly reporting, assumption updates, model enhancements and coordination with regression testing.
  • Work closely with the business and other functional partners on strategic projects (e.g. LICAT and IFRS 17) and tactical actions including business planning and forecasting.
  • Lead annual mortality and other experience studies to identify and interpret emerging trends, and propose new assumptions for valuation and actionable items to facilitate sustainable profitability for the business.
  • Lead risk governance and oversight, support annual update of risk appetite and delegated authority, and ensure top and emerging risks remain within risk appetite through frequent monitoring.

 

Must-have

  • Fellow of the Society of Actuaries and Canadian Institute of Actuaries
  • At least 10 years of experience within the life insurance industry
  • Leadership skills to engage team and communication skills to drive action
  • Strong analytical and technical skills
  • Knowledge of life insurance standards of practice, reserving principles, insurance accounting, product design and administration, pricing framework, capital regime, and regulatory compliance guidelines and IFRS 17
  • Ability to juggle multiple priorities, deal with ambiguity and work under pressure

 

Nice to have

  • Experience in longevity reinsurance product lines is an asset

 

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

  • Ability to make a difference and lasting impact
  • Work in a dynamic, collaborative, progressive, and high-performing team
  • Opportunities to take on progressively greater accountabilities

 

Application Deadline: 2022-08-18-07:00

Reference
VAC-7883
Employer
Royal Bank of Canada
Hours
Employment Type
Salary and benefits
Salary and benefits info not provided.
Salary
Salary negotiable
Your Career Level
Mid Career
Years Experience
At least Ten (10) years'
Your Education Level
Not Specified
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