Associate Director - Actuary, Traditional and Universal Life Insurance

What is the opportunity?

As part of the Group Risk Management Team (GRM), the Associate Director will perform month end valuation for Traditional Life and Universal Life products, as well as perform Earnings by source analysis to explain key driver of results. In addition, the ideal candidate will perform actuarial experience study and make recommendations to management for Traditional Life and Universal Life products. The role also involves mentoring and developing staff.

What will you do?

• Performing IFRS17 month-end valuation for Traditional Life and Universal Life products, as well as perform Earnings by source analysis to explain key driver of results.
• Contributing to IFRS17 actuarial financial reporting to ensure effective completion of all annual, quarterly, and monthly actuarial processes including Appointed Actuary Report. In addition, provide the business and other functional partners with implications of emerging financial results and related metrics for mortality, policyholder behavior, and core investment income etc., drivers.
• Performing annual mortality and other experience studies and make recommendations to management for Traditional Life and Universal Life products.
• Monitoring economic and regulatory environments, as well as industry and organizational results; applying these to the development of strategies for meeting current and future business needs.
• Supervising product development, pricing, and reinsurance decisions for complex or high-impact products from an actuarial perspective.
• Directing the use of actuary tools and models for ensuring actuary outcomes comply with established standards.
• Working closely with the business and other functional partners on strategic projects and tactical actions
• Show ability to lead team including talent development, providing guidance, and delegating resources/tasks to manage workload.

What do you need to succeed?

• Fellow of the Society of Actuaries and/or Canadian Institute of Actuaries or equivalent foreign designation.
• 5 to 10 years of experience within the life (re)insurance industry.
• Bachelor's degree (or above) in Actuarial Science or related field with demonstrated record of academic excellence.
• Working experience in IFRS17 is an asset.
• Experience in Traditional Life and Universal Life product lines is an asset.
• Sound Knowledge of life insurance standards of practice, reserving principles, insurance accounting under IFRS17, product design and administration, capital regime, and regulatory compliance guidelines.
• Strong analytical and problem-solving skills, with the ability to be an innovative thinker and understand the "big picture".
• High energy, results-oriented self-starter, and always challenge the status quo.
• Ability to communicate clearly and concisely with both technical and non-technical audience.
• Strong working knowledge on GGY AXIS. Experience with SQL 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.

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• A world-class training program in financial services
• Flexible work/life balance options
• Opportunities to do challenging work

Job Skills

Additional Job Details

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.