Manager Actuarial, Insurance Risk Management (4489)

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

TDI Insurance Risk Management (IRM) is accountable for the IRM program across TD Insurance relying on key activities and deliverables embedded within the accountabilities of business process risk and control owners (first line). They are also accountable for ensuring alignment of IRM with TDI business priorities capacity and expertise to ensure a shared focus on common IRM objectives.

TDI IRM is accountable for the alignment of TDI with TDs Insurance Risk Policy by performing independent reviews of actuarial reserves pricing analyses and reinsurance strategy. This also requires the challenge of various business initiatives from an insurance risk perspective the production of reports and dashboards to be presented to different risk committees as well as the production of the ORSA report. TDI Insurance Risk Management aims to perform risk-based challenges that are efficient thorough and well documented.

Job Description

The Manager Insurance risk Life & Health (LH) contributes to the success of the TDI Insurance Risk Management team by leading the independent review of the corporate actuarial valuation and pricing analyses leading the production of the LH ORSA report and providing second line oversight on Change Assessment (CA). The Manager also oversees the development of insurance risk analytics and tools and leading risk indicators.

Reporting directly to the Senior Manager Insurance Risk Management:

Key Responsibilities

• Lead the strategy and execution of the risk-based actuarial challenge program for TDI LH and TD Reinsurance Barbados (TDRB) including but not limited to:
  • Independent annual review of the LH Corporate Actuarial valuation
  • Independent annual review of the LH Pricing analyses
  • Reviews of the methodologies and assumptions underlying the actuarial estimation processes
  • Independent oversight of reinsurance treaty renewals and amendments
  • Documentation and communication of findings and recommendations to management and executive stakeholders
  • Delivering a program that operates in partnership with the business to add value and enable timely risk taking
• Support the execution of capital adequacy assessment processes for LH and TDRB including but not limited to:
  • Ownership of the end-to-end Own Risk Solvency Assessment (ORSA) process including the production of the LH ORSA Report the assessment of risks and recommended internal capital targets
  • Oversight on TDRB capital management framework and Solvency II capital ratios
  • Ensuring compliance with relevant regulatory guidelines
• Support the Model Oversight program for TDI LH and TDRB including but not limited to:
  • Review and challenge the insurance assumptions within model risk documentation;
  • Report to TD Model Risk Management/Model Validation (TD MRM/MV) on the insurance assumptions challenge review and highlight any insurance risks aspects;
  • Support TD MRM/MV throughout the validation process;
  • Review of TD MRM/MV validation report;
  • Ensures TDI is compliant with the TD Model Risk Policy and Model Risk Policy Framework
• Responsible for the Insurance risk and Model risk oversight for the Change Assessment process (CA) performing the challenges of TDI LH initiatives affecting the premiums claims reserving reinsurance product and business plan
• Collaborate on the development of new policies and provide support and quality review of existing policies
• Lead the development of risk analytics and tools that allow for risk trend identification to challenge the business assessment and management of Insurance Risk
• Design enhanced insurance risk reporting that leverages risk analytics analyze and interpret the output and provide commentary insights to management executive stakeholders and risk partners.
• Contribute to team development of skills and capabilities through mentorship of others by sharing knowledge and experiences and leveraging best practices.
• Provide life & health actuarial subject matter expertise in challenging the identification of insurance risk through various risk management programs
• Actively manage good business relationships within and across various business lines corporate and/or control functions and ensure alignment with enterprise and/or regulatory requirements
• Keep abreast of emerging issues trends and evolving regulatory requirements and assess potential impacts
• Maintain a culture of risk management and controls supported by effective processes in alignment with risk appetite

Job Requirements

• Minimum of 7 years of actuarial experience in the life and health insurance field
• Fellowship with the Society of Actuaries and Canadian Institute of Actuaries or equivalent
• Diversified actuarial experience at an insurance company in risk management pricing reserving or reinsurance
• Excellent communication and presentation skills
• Skill in mentoring/coaching others
• Experience with Moodys AXIS is considered an asset
• Ability to operate in an evolving often ambiguous environment
• Strong problem-solving skills and the ability to proactively identify risks/issues and recommend solutions
• Recognized for their thoroughness and the quality in their work
• Self-motivated and persistent demonstrating initiative and creativity in their work
• The ability to challenge status quo and to influence change

Who We Are:

As part of TD Bank Group one of Canadas largest financial institutions at TD Insurance we care for Canadian families making it easy to get the best advice protection and support in their moments of need always.

TD Insurance offers a wide range of products including General Insurance and Life and Health. Everyday we strive to make every interaction product and experience remarkably human and refreshingly simple for more than four million customers who count on us.

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.

If youre passionate about helping clients and building deep lasting relationships TD offers diverse career paths where you can grow your expertise and make a meaningful impact.

Were committed to your success and foster a respectful workplace where diverse perspectives are valued everyone has fair opportunities to grow and you can unlock your full potential to achieve your career goals. Here at TD we hire and develop the best.

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):