Actuarial Associate
Actuarial Associate
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1 Vacancy
Job Description
Job Summary
Join our dynamic Actuarial Modeling team and play a key role in the development and maintenance of sophisticated actuarial models. This is an excellent opportunity to grow your actuarial modeling skills and contribute meaningfully to a leading organization.
Job Description
What is the opportunity
As an Actuarial Associate you will be central to the development and maintenance of actuarial models that underpin the calculation of actuarial reserves for our various product lines directly feeding into our IFRS17 financial results.
This role also has accountabilities for building new valuation models improving modeling methodologies as well as maintaining and updating existing actuarial models.
What will you do
- Perform IFRS17 month-end valuations using actuarial models for various product lines ensuring accuracy and timeliness. This involves data processing for monthly inputs to the actuarial models performing model runs and preliminary analysis of the results.
- Develop test and maintain actuarial models using GGY Axis.
- Collaborate with portfolio teams to understand their needs and incorporate relevant assumptions and implement changes into the actuarial models.
- Document model methodologies assumptions and results clearly and comprehensively.
- Contribute to the ongoing development of best practices within the actuarial modeling team.
- Support and facilitate model reviews conducted by Enterprise Model Risk team including preparing documentation and explanations.
- Accountable for the change management process that maintains model integrity
Must Haves:
- Bachelors degree (or greater) majoring in Actuarial Science or Business. Other relevant Majors (e.g. Economics Mathematics or Statistics) are acceptable if accompanied with demonstrated knowledge of Actuarial concepts.
- In pursuit of FSA/FCIA designations
- Strong analytical and communication skills for carrying out responsibilities
- Strong technical skills in GGY AXIS R MS Excel and MS Access (SQL)
- Knowledge of IFRS17 modeling standards and process controls.
- 2 to 4 years of related actuarial work experience
- Solid understanding of actuarial principles practices and modeling logics for valuation and liability projections
- Excellent problem-solving skills for identifying and recommending enhancements to existing models and methodologies
- Knowledge of life insurance standards of practice and reserving principles
Nice-to-Have:
- Knowledge of Tableau SQL and Python
- Prior working knowledge of modeling Universal Life and Segregated fund (variable annuities) products
Whats in it for you
- A Total Rewards program that includes flexible benefits work/life balance and career development programs and investment and retirement savings plans
- Competitive pay and high-earning potential
- All the tools training and team support you need to grow your business and career
- Flexible work/life balance options
- Sophisticated RBCI software tools to boost your productivity and grow your business
Job Skills
Actuarial Modeling Actuarial Services Critical Thinking Industry Knowledge Insurance Finance and Actuarial Concepts Multi-Level Communication Probability Theory Risk Analysis Management Risk Management System ApplicationsAdditional Job Details
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Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above
Inclusion and Equal Opportunity Employment
At RBC we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best effectively collaborate drive innovation and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect belonging and opportunity for all.
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Required Experience:
IC
Employment Type
Full-Time
