Description
The Appointed Actuary of Royal Bank of Canada Insurance Company Ltd (RBCICL) will be responsible for the support and enabled success of the International Insurance Business through the timely, sound, reliable, appropriate and transparent valuation of the liabilities under Canadian and IFRS 17 standards of practice; the identification, measurement, reporting and mitigation of significant risk events for risk appetite and management; and the collaboration with other business management in achieving company goals and providing actuarial services and support as required.
This position also serves as an advisor to senior management with valuation and reporting responsibilities for the longevity reinsurance, life retrocession, creditor reinsurance and other product lines. The role is a good fit for a senior actuary who has a keen interest and drive to move to support the growth and profitability of RBCICL.
Responsibilities
- Accountable for liability and financial reporting with work to be performed per actuarial standards of practice and regulatory requirements
- Strategic management of risks to protect RBCICL from unacceptable losses or undesirable outcomes with respect to earnings volatility, capital adequacy or liquidity, while supporting and enabling its business strategy
- Financial management through actuarial portfolio performance reviews, analysis of earnings and input into business plans and forecasts
- Support regulatory changes, for example AM Best/S&P capital requirements and IFRS 17
- Develop and mentor staff in several locations
Requirements
- Fellow of the Canadian Institute of Actuaries and Society of Actuaries
- At least 10 years of Canadian actuarial experience in valuation and financial reporting
- At least 20 years of experience within the life insurance industry
- Experience in longevity reinsurance is essential. Life retrocession and creditor reinsurance product lines is an asset
- Leadership skills to engage team and communication skills to drive action
- Strong analytical and technical skills to build the foundation for carrying out accountabilities
- Knowledge of life insurance standards of practice, reserving principles, insurance accounting, product design and
- Ability to juggle multiple priorities, deal with ambiguity and work under pressure
Benefits
- A competitive compensation package including salary and pension
- Health insurance and comprehensive benefits
- 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