10K Challenge Future Opportunity: VP, Actuarial Services

Job Code: 8804
Location: Toronto, ON
Department: Personal Insurance
# of openings: 1
Job Type: Full Time
Closing Date: 30/04/19


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.

In this role, you will:

  • act as the primary contact for internal and external stakeholders designated to work on various strategic projects, such as demutualization, corporate acquisitions or pricing initiatives
  • maintain working relationships and interact closely at a strategic level with numerous business groups such as Finance, Enterprise Risk Management, Legal and Underwriting
  • lead a team managing data and analyses for various reinsurance requests, such as earthquake modelling, commutations and analysis of reinsurance programs
  • directing analyses of company and industry experience to promote rate adequacy and leverage complex commercial automobile and property rating structures across all provinces in which our group of companies writes business
  • oversee and support strategic projects that affect reserving, planning, reinsurance or those that require actuarial expertise and input

Your Responsibilities

  • Provide direction and support on matters relating to corporate planning, policy liabilities, reinsurance programs, expense allocation and pricing;
  • Ensure legal compliance by maintaining a thorough knowledge of pertinent accounting and regulatory requirements related to financial solvency and pertinent rating regulatory requirements to direct strategy in dealing with or negotiating with provincial regulators;
  • Guide the creation and development of actuarial policies, programs and procedures
  • Continually meet objectives through the effective acquisition, organization, development and use of the division’s resources
  • Work with the Manager, Projects  and external participants to assess key risks, opportunities and deliverables needed for various special projects
  • Identify key deliverables and resource requirements and/or constraints
  • Clearly and effectively communicate key concepts, findings and issues related to special projects
  • Provide leadership, guidance, oversight and ongoing feedback to direct reports regarding performance, productivity, work quality, personal conduct and adherence to corporate policies and procedures

Your Skills and Experience

  • University degree in Actuarial Sciences or a relevant discipline
  • Must be a Fellow of the Casualty Actuarial Society (FCAS) or Fellow of an international actuarial organization recognized by the CAS
  • 7+ years of relevant full-time actuarial experience with significant experience in areas such as reserving, planning, financial modelling, risk management or pricing
  • Experience with mergers and acquisitions would be an asset
  • Previous project management experience and an ability to promote and supervise a team effort toward project completion
  • Strong understanding of actuarial concepts as they relate to loss reserving, valuation and DCAT
  • Programming and design experience in various forms of data manipulation, analytical and stochastic modelling software
  • Proficient in  Microsoft Office (Excel, Access), Visual Basic, APL, SAS, ResQ, @Risk and Remetrica/IGLOO
  • Excellent statistical, analytical and problem solving skills
  • Strong verbal and written communication skills

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.


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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