Actuarial Manager, Commercial Pricing

Job ID : 7110
Category : Commercial Insurance
Brand : Definity
Regular/Temporary : Regular
Fulltime/Parttime : Full Time
Location : Waterloo, Canada
Posting Range : $87,600 - $181,000

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Economical is part of Definity, which includes some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family Insurance Solutions, and Petline Insurance. Our ambition is to be one of Canada’s leading and most innovative property and casualty insurers. We can’t do that without our people, so we embrace and encourage a culture that’s collaborative, ambitious, rewarding, and empowering.

We offer a flexible, hybrid work experience where employees work from the office and virtually depending on the type of work they are doing and who they are working with. Bring your true self and be a part of our journey. It’s better here.

Report to the Vice President, Commercial Pricing and will be accountable for leading research and development pricing initiatives, across commercial property, casualty, and automobile. You will supervise a team of technical experts to enhance commercial pricing segmentation, combining advanced statistical analysis with sound business judgement. As an analytical leader, you will also collaborate closely with Commercial Insurance business partners and have shared responsibility for delivering the business plan. As a Manager, Commercial Pricing, you may also be responsible for estimating rate adequacy, financial planning, large account pricing reviews, and other assignments as the business need arises.

What can you expect in this role?

  • Lead the development, execution and monitoring of commercial pricing segmentation strategies to achieve desired business outcomes
  • Accountable to actively promote rate adequacy with other departments and the Regions and negotiate to achieve desired results
  • Work collaboratively with the Strategic Business Units and the Regions to solve business problems of the following nature: retention, growth, profitability, competitive positioning, through the use of data and actuarial techniques
  • Lead the creation of regulatory rate filings, and negotiate with provincial regulators to secure desired structural and rate amendments as per internally agreed upon timeline
  • Participate in the corporate business planning and forecasting exercises by providing actuarial advice on parameters used to forecast business growth, retention and profitability.  This also includes assessing what future rate increases could be approved by provincial regulators.
  • Work with advanced analytics to combine creative actuarial knowledge with sound business judgment in developing sophisticated models that assist the company in meeting growth and profitability targets
  • Communicate analytical findings clearly and concisely to non-technical audiences to support key stakeholder decision making
  • Provide leadership and guidance, technical instruction and ongoing feedback to direct reports regarding performance, productivity, work quality, personal conduct and adherence to Corporate policies and procedures
  • Actively involved in recruiting and retaining experienced actuarial staff

What do you bring to the role?

  • University Degree in Actuarial Science or a relevant discipline
  • Must have successfully achieved Associateship in the Casualty Actuarial Society (ACAS)
  • Must have at least 4 years of commercial pricing experience with a preference for individuals who have experience managing a small of team analysts
  • Must have good project management skills such as communication and organizational skills and an ability to promote and supervise a team effort toward project completion
  • Professional, friendly and courteous in all interactions, whether with customers or co-workers
  • Perform well in a busy operation and remain calm under pressure

Salary range is $87,600 - $181,000.

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Interested in this role, but don't meet every requirement? We encourage you to apply! We know from experience that a candidate doesn't need 100% of the qualifications listed to bring incredible value to our team. We're actively seeking diverse backgrounds and perspectives to help us make insurance better. At Definity, inclusion, diversity, and equity aren't just "nice to have" — they're essential to our success.

What's in it for you?

  • Hybrid work schedule for most roles
  • Company share ownership program
  • Pension and savings programs, with company-matched RRSP contributions
  • Paid volunteer days and company matching on charitable donations
  • Educational resources, tuition assistance, and paid time off to study for exams
  • Focus on inclusion with employee groups, support for gender affirmation surgery, access to BIPOC counsellors, access to programs for working parents
  • Wellness and recognition programs
  • Discounts on products and services

Actual salary for the role may vary depending on work location of the successful candidate and other factors including but not limited to, skills, education, experience, working conditions and the local labour market.  In addition to base pay, eligible employees may participate in various incentive plans which are paid out at the discretion of the company and subject to individual and company performance.

Go ahead and expect a lot — you deserve it.
It's better here — but don't take our word for it. Definity was named by Great Place to Work® as one of the Best Workplaces™ in Canada for women, for youth, and for inclusion.

Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know by contacting [email protected].

Background checks
This role requires successful clearance of background checks (including criminal checks and leadership references).

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