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. With strong roots that date back to 1871, Definity has grown to become a digital leader in the insurance industry. We’re proud to help our clients and communities adapt and thrive in a world of constant change.
Our promise to you: It’s better here. Why? Because we CARE, and we provide an employee experience that’s collaborative, ambitious, rewarding, and empowering.
Our ambition is to be one of Canada’s leading and most innovative P&C insurers. Come be a part of our journey, and love what you do.
Role Location: Toronto, Waterloo or Montreal - Hybrid
- Reporting to the Manager – Strategic Risk, Corporate Actuarial, the successful candidate will be primarily responsible for Financial Condition Testing (FCT), Capital modelling / monitoring, and supporting other strategic initiatives such as M&A activities. Risk Management activities such as catastrophe modelling / monitoring, incorporating impacts of climate change into day-to-day work, and supporting other departments such as Enterprise Risk Management (ERM), Finance, Claims, Pricing, Reinsurance will be secondary responsibilities of the candidate.
- The internal title of this position is Senior Actuarial Analyst
What can you expect in this role?
- Work collaboratively with other Actuarial teams such as Reserving, Planning, Pricing, and Analytics to solve complex problems, and provide recommendations to management
- Support the overhaul of the FCT and other Capital modelling/monitoring processes & help transition Capital processes to the IFRS 17 accounting standard
- Assist with the strategic goals of the company such as M&A activity, limiting catastrophe risk, and assessing viability of business decisions from a Capital standpoint
- Work closely with external departments such as Finance, Claims, Reinsurance and ERM on various projects
- Support work on climate change initiatives from a Risk Management, and Capital perspective
- Identify opportunities for process efficiencies, and recommend changes
- Support leader in coaching and counselling of junior team members
What do you bring to the role?
- University degree in any one of the following programs: Actuarial Sciences, Mathematics, or Statistics
- At least 4 Casualty Actuarial Society (CAS) exams passed
- At least 3 years of relevant full-time Actuarial experience. Knowledge of Capital modelling, FCT, & IFRS 17 would be an asset.
- Excellent communication, organizational skills, and being detail oriented
- Team player, adaptable to a changing and fast-paced environment, and having a keen analytical mindset
- Strong technical skills in SAS, VBA or exposure to tools like Tableau
We also take potential into consideration. If you don’t have this exact experience, but you know you have what it takes, be sure to give us more insight through your application and cover letter.
Go ahead and expect a lot — you deserve it, and we’ve got it:
- 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
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]
This role requires successful clearance of a background check (including criminal checks and leadership references).