Senior Manager, Actuarial - Life & Health

Work Location:

Hours:

Line of Business:

Pay Details:

TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidates skills and experience job-related knowledge geographic location and other specific business and organizational needs.

As a candidate you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Job Description:

Department Overview:

TD Insurance (TDI) is part of TD Bank Group one of Canadas largest financial institutions. TDI helps protect clients from the accidents of life with a wide range of products including credit protection life health travel home and auto insurance. With more than three million clients TDI authorized products and services are available online over the phone and through a network of more than 1000 TD Canada Trust branches.
In Canada we have two lines of business General Insurance and Life and Health Insurance (LH). Our General Insurance business is one of the top Home and Auto insurance groups in Canada and the national leader in group insurance and affinity marketing. Our LH business is the number one provider of critical illness insurance and direct life and health insurance in Canada.

The LH business is supported by a Corporate and Valuation Actuarial team comprising of 6 team members led by an Associate Vice President (AVP) and Appointed Actuary TD Insurance Risk Management.

Job Description / Accountabilities:

Reporting to the AVP Appointed Actuary TD Insurance Risk Management the Senior Manager IFRS 17 Valuation serves as a key actuarial lead for on-going actuarial modelling enhancements for the Life & Health corporate and valuation actuarial teams supporting TD Insurance. The role will also support the AVP on various deliverables of the group as required for the Appointed Actuarial Report FCT EWST LICAT ORSA or other process and control improvements.

Role Overview Senior Manager IFRS 17 Valuation:

This position with support of financial analysts on her/his team and collaboration with cross-functional teams will provide:

• Understanding of IFRS 17 accounting standard successful candidate will demonstrate a thorough understanding of IFRS 17 Insurance Contracts (IFRS 17) in the context of Actuarial modelling implications and be able to effectively work cross-functionally with Finance on IFRS 17 actuarial disclosures in relation to TDs Life & Health business for both TD Life Insurance Company and TD Re (Barbados) level. There is an expectation of a deep understanding of the standard interpretation and industry application that will allow for development of actuarial model changes and quantification of profit/loss impacts capital impacts and operational impacts to TD Life & Health in comparison to peers.

• IFRS 17 actuarial modelling The successful candidate will utilize her/his knowledge to update actuarial models including reinsurance working through data flow changes with the IFRS 17 tool. Work in collaboration with the BAU Corporate Actuarial team lead and weigh in on updates to process and control documentation as required.

• IFRS 17 and new products As the L&H business evolves the senior manager will work with the L&H business and rest of the Corporate and Valuation Actuarial teams to integrate any new products product changes new reinsurance arrangements into the IFRS 17 accounting and related revised capital frameworks.

• IFRS 17 Project Governance and Education The senior manager will assist the Appointed Actuary and project team with presentations to stakeholders and governance committees within TD Insurance and TDBG as well as relevant external stakeholders taking into account the implications of IFRS 17 on TDI L&H from a conceptual and quantitative perspective (e.g. insurance liability profit and loss capital perspectives). Additionally the senior manager will work together with others as required to develop presentations for such purposes.

• Special Projects and Continuous Improvement- Lead the team in the development and evolution of the valuation LICAT and FCT model including any implementation of new products. Support the corporate and valuation actuarial team of the L&H business with process and control improvement initiatives and action items and other efficiency projects such as improvement to data flows and modelling.

• Corporate Actuarial The Senior Manager will support the AVP in collaboration with the rest of the team in support of the Appointed Actuarys corporate actuarial deliverables including support for the Appointed Actuarial Report FCT ORSA experience studies etc.

Additional Skills Required:

Communication:

• Ability to communicate effectively in English both verbally and in writing. French is an asset.
• Highly adaptable in having discussions with different stakeholders in terms of expertise providing training at differing levels of detail based on seniority.
• Ability to work effectively during periods of stress.
• Ability to make good decisions quickly when the situation so requires.

Analytical Skills:

• Stands out for her/his judgment and analytical mind.
• Has strong problem-solving skills.
• Skilled at anticipating the results of an analysis or a report.
• Recognized for his/her thoroughness and the quality of his/her work.
• Practical experience with Moodys AXIS software and SAS VBA R SQL and Tableau

Management and team-work:

• Ability to constructively challenge and motivate team and cross-functional/group stakeholders
• Projects a professional image and acts accordingly.
• Ability to work collaboratively in teams and with cross-functional stakeholders as well as autonomously. Shows initiative and creativity in his/her work.
• Ability to delegate and manage contract/consulting resources as required to optimize delivery.

Professional Guidelines:

• Undergraduate degree in actuarial science or other quantitative area of study

• Corporate actuarial / valuation experience

• Experience with GGY AXIS (and SAS is an asset)

• Acquired Fellowship with the Society of Actuaries and Canadian Institute of Actuaries (FSA and FCIA).

• Minimum 7 years of Life & Health Insurance actuarial experience.

• Experienced with the CIAs Standards of Practice and relevant insurance legislation and regulation.

• Up to date with respect to the CIAs Continuing Professional Development requirement.

Who We Are:

TD is one of the worlds leading global financial institutions and is the fifth largest bank in North America by branches/stores. Every day we deliver legendary customer experiences to over 27 million households and businesses in Canada the United States and around the world. More than 95000 TD colleagues bring their skills talent and creativity to the Bank those we serve and the economies we support. We are guided by our vision to Be the Better Bank and our purpose to enrich the lives of our customers communities and colleagues.

TD is deeply committed to being a leader in customer experience that is why we believe that all colleagues no matter where they work are customer facing. As we build our business and deliver on our strategy we are innovating to enhance the customer experience and build capabilities to shape the future of banking. Whether youve got years of banking experience or are just starting your career in financial services we can help you realize your potential. Through regular leadership and development conversations to mentorship and training programs were here to support you towards your goals. As an organization we keep growing and so will you.

Our Total Rewards Package
Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial physical and mental well-being goals. Total Rewards at TD includes a base salary variable compensation and several other key plans such as health and well-being benefits savings and retirement programs paid time off banking benefits and discounts career development and reward and recognition programs. Learn more

Additional Information:
Were delighted that youre considering building a career with TD. Through regular development conversations training programs and a competitive benefits plan were committed to providing the support our colleagues need to thrive both at work and at home.

Please be advised that this job opportunity is subject to provincial regulation for employment purposes. It is imperative to acknowledge that each province or territory within the jurisdiction of Canada may have its own set of regulations requirements.

Colleague Development
If youre interested in a specific career path or are looking to build certain skills we want to help you succeed. Youll have regular career development and performance conversations with your manager as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities. Whether you have a passion for helping customers and want to expand your experience or you want to coach and inspire your colleagues there are many different career paths within our organization at TD and were committed to helping you identify opportunities that support your goals.

Training & Onboarding
We will provide training and onboarding sessions to ensure that youve got everything you need to succeed in your new role.

Interview Process
Well reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.

Accommodation
Your accessibility is important to us. Please let us know if youd like accommodations (including accessible meeting rooms captioning for virtual interviews etc.) to help us remove barriers so that you can participate throughout the interview process.

We look forward to hearing from you!

Language Requirement (Quebec only):