Foresters Financial is seeking an Actuarial Analyst to join their Corporate Actuarial team. The role involves supporting IFRS17 reporting activities, preparing the Appointed Actuary Report, and developing process improvements in a dynamic environment while gaining exposure to various actuarial disciplines.
Responsibilities
- Support quarterly IFRS17 reporting activities, including but not limited to, liability data and asset data loading, valuation assumption changes, Risk Integrity reporting project setup and processing, MD&A earning analysis, and OSFI life returns filing
- Support the preparation of the annual Appointed Actuary Report (AAR) for both the enterprise and the Canadian insurance subsidiary
- Support basis changes work, implementation of model including New Business implementation, and process improvements to drive ongoing value from department reporting and analysis
- Support the communication of information with auditors, regulators and external consultants on key deliverables related to IFRS 17
- Support implementation of model and process improvements to drive ongoing value from department reporting and analysis
- Maintain appropriate actuarial process documentation consistent with professional actuarial standards and in compliance with all applicable legislation
- Keep up to date with current and future financial reporting changes and the corresponding evolution of industry standards. Identify and monitor emerging regulatory and supervisory developments and assess implications by providing actuarial expertise
- Keep developing collaborative working relationships with key stakeholders within Corporate Actuarial, Product Actuarial, Finance, IT and Capital management, Business Planning and Strategy teams
Skills
- Bachelor's degree in mathematics, science, business, economics, or another relevant field
- One (1) year of actuarial experience in a life or health insurance company an asset
- Experience working with various analytic systems. This would include databases (e.g. SQL server management studio), Microsoft Office software (e.g. Excel, Access) and modeling systems (e.g. Moody's AXIS)
- Strong time management skills and ability to multi-task and respond to evolving organizational needs
- Innovative thinker and problem solver
- Currently writing Society of Actuaries exams with the intention of achieving the FSA & FCIA designations
- Knowledge of the financial services industry and financial products: life insurance, annuities, segregated funds, mutual funds for both Canada and the U.S
- Knowledge of Canadian and U.S. valuation and solvency regimes
- Knowledge of professional standards, laws, regulations and guidance issued by the Canadian Institute of Actuaries, the Society of Actuaries and the American Academy of Actuaries, including standards of practice and professional standards
- Must have the ability to present ideas and negotiate through effective communication across multiple disciplines and at all levels, both internally and externally
- Highly self-motivated to research issues independently
- Excellent report writing and communications skills
Benefits
- Discretionary variable incentive plan
Company Overview
Foresters Financial is redefining the life insurance and individual savings industry across the U.S., Canada and UK by enriching the lives, communities, and overall well-being of its members. It was founded in 1874, and is headquartered in Buffalo, New York, USA, with a workforce of 1001-5000 employees. Its website is http://www.foresters.com/.