10K Challenge: Director, Reserving - Corporate Actuarial

Job Code: 8648
Location: Waterloo, ON
Department: Corporate Actuarial
# of openings: 1
Job Type: Full Time
Closing Date:


10K Challenge: Any candidates who apply by April 30th and are hired before December 31st 2019, would be eligible for a $10,000 signing bonus!



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.

** This role would be available to candidates located in Waterloo or Toronto **

In this role, you will:

  • oversee the timely and accurate completion of analyses associated with loss reserving, profitability analyses and both internal and external financial reporting, including processes related to monthly/quarterly financial reporting and regulatory reporting
  • participate in the design and development of a new reserving process
  • interact and provide assistance to the strategic risk, planning and special projects teams within Corporate Actuarial
  • act as a primary contact with other departments (Finance, Personal Insurance, Commercial Insurance, Sonnet, Claims, ERM), auditors (both Internal/external) and external consultants

Your Responsibilities

  • 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 Readiness, Mergers/Acquisitions and corporate restructuring activities, including developing and/or enhancing applicable corporate policies
  • Oversee actuarial processes related to loss reserving and internal/external financial reporting, including data collection and regulatory/rating agency reporting
  • Communicate analysis results to senior management teams including PI, CI and Sonnet 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

Your Skills and Experience

  • 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 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

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.

We’re looking for candidates who are on top of their game. Find out what it’s like to work at Economical: https://youtu.be/C2mu-vLY_0Q


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: hrsharedservices@economical.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.

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