The Manager, Indemnity Control will lead the design and implementation of a case reserving controls framework, which includes executing a series of standard case reserving controls to ensure case reserves are appropriately established and managed by claims handlers.
Because a changing industry calls for a new way of doing things. An ambitious, innovative and fast-paced company, we offer exceptional training and development programs, competitive pay, great benefits, company-matched RRSPs, and paid volunteer days — all within an engaging, fun, and collaborative work environment.
Founded more than 145 years ago, Economical is one of Canada’s leading property and casualty insurance companies. We rely on our national network of more than 800 independent brokers to sell a range of car, home, business, and farm insurance solutions. With Sonnet and Petline, we’re extending our reach through the direct-to-customer channel. With more than 2,400 active employees across the country and a commitment to rethinking the insurance experience, we’re poised for great things.
We’re now adding to our high-performance team to take us into the future. Let’s rethink insurance, together.
In this role, you will:
- develop a case reserving controls framework and implement the associated processes and controls to identify, analyze, manage, monitor, and report key issues to the new Case Reserving Committee (Claims VPs and Executives)
- promote a strong risk and control environment by providing subject matter expertise in risk management, regulatory and legal compliance, guidelines, processes and controls for key strategic initiatives and daily operations
- contribute to risk management by identifying, assessing, mitigating, governing and reporting on key risks in Personal Lines and Claims
- provide input in policy development
- lead a team of professionally designated staff (Audit and Risk) and technical Claims staff
- Work with IT, Claims leaders, Actuarial, Business Intelligence, Advanced Analytics and Risk on: defining and agreeing on key case reserving controls, managing data on IT projects and other requirements (MIBI tools, data access and quality checks)
- Develop framework, processes and controls to ensure key deviations are identified, evaluated, actioned, tracked and reported
- Develop recommendations for gap closure and continuous improvement
- Investigate, report and present findings, trends and analyses to Claims Senior Leadership Team, Risk Committee and Case Reserving Committee on a monthly and quarterly basis
- Add data analytics and predictive modelling into various case reserving controls with notification to Claims handlers and leaders
- Drive stronger insights and predictors to make control testing more efficient and effective
- Lead, establish and manage a Case Reserving Committee and standard reporting materials (e.g. presentation pack)
- Implement any new requirements, controls and close action items as needed, including assisting with new regulatory requirements, process mapping/documentation, framework updates and/or development
- Monitor emerging best practices in risk management, audit and control to improve the ability to identify, assess, mitigate, govern and report on risk and control
- Develop techniques to make control testing more efficient and effective
Your Skills and Experience
- One or combination of: CIP, CPA, CIA, Risk Management
- 8+ years of experience within one or more financial service industries, with significant exposure to audit, risk management, regulatory compliance and internal controls
- Strong understanding of business operations and related legislative, regulatory and associated internal policy and procedural requirements
- Excellent written and verbal communication skills with the ability to build strong relationships externally and internally with all levels to help foster a positive compliance culture
- Ability to build teams, frameworks and processes
- Must possess an understanding of P&C insurance products, distribution and compliance environment
- Proficient in Excel, Powerpoint and Word
- Strong organizational and problem-solving skills with the ability to gather information, analyze critically and cut through complexities to arrive at workable solutions
- Strong personal integrity
At Economical, we all work together to come up with big ideas — then bring them to life. We focus on our customers first, we bring our best, and we’re stronger together. If you’ve got the passion and the desire to help us reinvent insurance, let’s talk.
HOW TO APPLY
To complete the online application process, you’ll need to upload your resume before you apply for the role you’re interested in. Please note that only one document can be uploaded, so be sure to combine your resume and cover letter.
We are committed to providing an inclusive work environment that welcomes diversity and supports accessibility across the organization. If you require accommodation at any time during the recruitment process, please let us know by contacting: email@example.com.
Visit economical.com to learn more about us and what we’re up to.
Economical Insurance includes the following companies: Economical Mutual Insurance Company, The Missisquoi Insurance Company, Perth Insurance Company, Waterloo Insurance Company, Family Insurance Solutions Inc., Sonnet Insurance Company, Petline Insurance Company.