Director, Actuarial Services
Director, Actuarial Services
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Job Description
At FSRA our vision is to ensure financial safety fairness and choice for Ontarians. As a financial services regulator were passionate about protecting consumers. Our principles-based approach means we can quickly and effectively respond to the changing needs of consumers and the industry.
Our team combines industry expertise with commitment to public service. We attract individuals who are interested in meaningful work and who measure success through outcomes not inputs.
At FSRA we invest in the personal and professional growth of our team. We offer a competitive compensation package that includes an employer-matcheddefined benefit pension plan comprehensive and competitive benefits plan a hybrid work model and flexible work arrangements. We prioritise learning and development wellbeing diversity equity inclusion and belonging and community giving.
Join FSRA and help us shape the future of regulation for generations to come!
Job Description:
FSRA has retained the services of LHH Knightsbridge for this Search. Interested applicants should submit their resume and cover letter in confidentially to: Nicholas Protti Partner LHH Knightsbridge at and/or Erica Tsui Consultant LHH Knightsbridge at
Purpose of Position
Accountable for providing leadership in the delivery of actuarial programs services or initiatives in support overall Auto/Insurance Products strategies.
Key Responsibilities
Oversees the development and implementation of actuarial programs/services/initiatives including strategies plans methods tools and processes to meet the overall strategic plans and priorities of Auto/Insurance Products (e.g. actuarial review process for rate filing applications and related requirements review/assessment of predictive models etc.).
As a member of the FSRA leadership team contributes to the FSRA strategy and development of tactics; and provides leadership in executing programs services or initiatives to deliver on the strategy.
Plans and manages the delivery of actuarial programs/services/initiatives ensuring consistency with overall Auto/Insurance Products performance measures standards and best practices and integration with overall FSRA directions.
Leads the identification development and execution of data requirements of auto insurance rate filing for actuarial review and automobile insurance statistical plans in support of the regulation of auto insurance and other insurance products while ensuring actuarial rate review systems procedures and standards are consistent with actuarial standards.
Accountable for identifying and driving government-led auto insurance product reforms.
Leads and facilitates strategic constructive conversations with industry stakeholders including senior actuarial expertise and senior management teams of property insurance companies on the interpretation of FSRA guidance. Sets expectations and outlines requirements to guide insurers in continuously achieving fair consumer outcomes from a quantitative perspective building and maintaining trusted relationships.
Designs develops and leads industry working groups in the delivery of FSRA working products such as annual review guidance benchmark development reform costing analysis and fairness assessments.
Provides actuarial expertise and advice to FSRA management and staff in response to issues and risks to achieving FSRA mandate providing evidence-based recommendations for change.
Manages the section and its staff to support an environment and culture of service excellence which respects diversity encourages all employees to work together to achieve results and contribute to a healthy rewarding and productive working environment where personal and team accountability are key to meeting the mandate of FRSA.
Accountable for building a strong team including hiring orienting and training staff determination of performance standards and conduct of performance reviews and managing employee relations matters.
Accountable for the management of the section budget including the budget for external consultants and consulting contracts.
Works with the Chief Actuary Auto Insurance Operational Risk Supervision in developing overall Actuarial Services operational plans and the development and reporting on performance metrics program effectiveness risks and impacts related to Auto/Insurance Products and overall FSRA matters.
Champions and leads critical change and a new collaborative forward thinking culture within Actuarial Services and works with others to achieve this across Auto/Insurance Products.
Promotes and drives innovation and continuous improvement throughout Actuarial Services and across FSRA related to actuarial programs services and initiatives.
Leads and/or participates on projects within Auto/Insurance Products to represent Actuarial Services interests in program/service/initiative decision making.
Works in collaboration with colleagues on department priorities for FSRA.
Acts on behalf of the Chief Actuary Auto Insurance Operational Risk Supervision.
Qualifications
Education and Experience
Degree in Actuarial Science.
Fellow of the Casualty Actuarial Society (FCAS) and Fellow of the Canadian Institute of Actuaries (FCIA).
8 10 years experience in planning and managing the delivery of actuarial programs services initiatives in a large organization including significant experience in auto insurance pricing or related areas.
Auto Insurance Pricing experience is strongly preferred.
Knowledge and Skills
In-depth knowledge of actuarial principles standards ratemaking reserving methodologies and automobile insurance governance.
Expertise in actuarial and statistical principles and methods particularly related to auto and property casualty insurance products.
Ability to apply mathematical concepts traditional actuarial models of frequency and severity standard statistical methods modeling and simulation techniques trend indexing and financial analysis.
Strong problem-solving skills to be able to manage complex situations with multiple layers and resolve to solution anticipating needs now and into the future.
Leadership skills to directly supervise all leadership positions and establish individual goals as well as build and lead high-performing teams ensuring that all team members are aligned and collaborating to achieve organizational results.
Excellent business acumen and interpersonal skills as well as the ability to work across the auto insurance sector at executive levels to influence and effect change to achieve common goals.
Strong communication skills with the ability to articulate complex concepts clearly and professionally in both verbal and written forms.
*Please note that this position will close at 11:59PM on April 25 2025*
Job Posting End Date:
06/22/2025Job postings close at 11:59pm on the date noted.
Employment Type:
RegularScheduled Weekly Hours:
36.25FSRA is committed to ensuring equity in employment. Our goal is to create a diverse inclusive workforce that reflects the communities we serve and to ensure our services and communications are accessible to all individuals. Accommodation is available under the Ontario Human Rights Code.
NOTE: ONLY QUALIFIED CANDIDATES WILL BE CONSIDERED
Required Experience:
Director
Employment Type
Full-Time
