Director, Reserving

Definity is the parent company to 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.

The Director, Reserving oversees the timely and accurate completion of analyses associated with reserving, segment reviews/analyses, and both internal and external financial reporting, including processes related to monthly/quarterly financial reporting and regulatory reporting. This role participates in the design and development of changes to assist in maturing reserving processes. This role interacts with and provides assistance to the Strategic Risk, Planning and Special projects teams within Corporate Actuarial. This role’s primary focus is on Personal Insurance and acts as a primary contact for Personal Insurance related reserving issues with other business support departments (Finance, Claims, ERM, IT), auditors (both Internal/external) and external consultants.

What can you expect in this role?

• Provide direction for Corporate Actuarial reserving team to align with the strategic and business needs of Economical by aligning processes and analyses to support Public Company Reporting requirements, Mergers/Acquisitions and corporate restructuring activities, including developing and/or enhancing applicable corporate policies, with a primary focus on Personal Insurance;
• Oversee actuarial processes related to loss reserving and internal/external financial reporting, including data collection and regulatory/rating agency reporting as relates to Personal Insurance;
• Communicate analysis results to senior management teams including Finance, Personal Insurance and Claims as appropriate
• Recommend and implement enhancements to the reserving and projection process to improve process efficiencies and model parameterization, improve the ability to quickly translate actuarial analysis results into useful management information, and leverage analyses, tools and information across department functions
• Ensure that all analyses, reports and documentation are compliant with internal company policies, regulatory requirements and professional standards of practice
• 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
• Hire/recruit, develop and retain skilled staff
   

What do you bring to this role?

• University degree in Actuarial Sciences or a relevant discipline
• Must be a Fellow of the Casualty Actuarial Society or Fellow of an international actuarial organization equivalently recognized by the Casualty Actuarial Society
• Must be a Fellow of the Canadian Institute of Actuaries, or be eligible to become such;
• Must have at least 6 years of relevant reserving experience
• Very strong leadership, communication and project management skills to successfully promote and supervise a team effort toward project completion
• Able to perform well in a busy operation and remain calm under pressure
• Team player, adaptable to a changing and fast-paced environment

Salary Range is: $97,000 - $178,800

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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