VP, Chief Actuary & Risk Management (Life Insurance)

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Date: May 9, 2025

Location: North York - Toronto, ON (Hybr, CA Montreal, QC (Hybrid), CA Calgary, AB (Hybrid), CA Kitchener, ON (Hybrid), CA Winnipeg, MB (Hybrid), CA

Company: Wawanesa Insurance

Job ID: 9240 


Working Business Language: English. This role is considered a head-office role and will be required to communicate with internal and external stakeholders across Canada where the primary business language for this role is English. As such, the successful candidate must be fully proficient in English. 
 

 

About Us
At Wawanesa, we’re proud to offer a hybrid work environment that offers flexibility to our employees in balancing in-office (3 days per week per week in a Wawanesa office) and remote work. You may work from any of the following locations: Winnipeg, MB; Calgary, AB; Toronto, ON; Kitchener, ON; Montreal, QC.
 

The Wawanesa Mutual Insurance Company is one of Canada’s largest mutual insurers, with over $3.5 billion in annual revenue and assets of $10 billion. Wawanesa Mutual is the parent company of Wawanesa Life, which has provided life insurance products and services throughout Canada for the last 64 years, and Western Financial Group, which distributes personal and business insurance. Wawanesa proudly serves more than 1.7 million members in Canada. The company actively gives back to organizations that strengthen communities, donating more than $3.5 million annually to charitable organizations, including over $2 million annually in support of people on the front lines of climate change. 

Job Overview

We are seeking an experienced VP, Chief Actuary & Risk Management, to act as our life Appointed Actuary and oversee our Life risk program ensuring compliance with regulatory frameworks and strategic alignment. This Appointed Actuary role includes reporting, capital management, ALM, IFRS 17 and the review and effective challenge of all pricing proposals. 

 

Applications will be accepted until June 1, 2025. 

 

 

Key Responsibilities 

  • Act as Appointed Actuary for Wawanesa’s life company 
  • Lead the life risk program, oversee risk-taking activities and ensure adherence to our risk management policies and frameworks.  Work with the enterprise CRO to ensure life risk management programs are consistent with the enterprise risk management framework. 
  • Participate as a member of the Wawanesa Life Company’s Executive Leadership Team to drive the business forward. 
  • Accountable for presenting to multiple board committees as the Appointed Actuary including Audit and Risk. 
  • Maintain the company’s risk appetite framework, including risk appetite statements. 
  • Oversee the quarterly production of regulatory capital (LICAT) and ensure compliance with industry standards. 
  • Manage a team of actuarial professionals responsible for financial results, ORSA, FCT, and Appointed Actuary reports. 
  • Stay updated on IFRS 17, LICAT, and industry trends affecting the Canadian insurance sector. 
  • Provide strategic insights on capital management, ALM, and pricing proposals. 
  • Report to Executive Leadership Team and the Board on risk appetite and financial projections. 
  • Lead the development and analysis of financial projections, including the 5-year business plan. 

Qualifications

  • Minimum 15 years of experience in the Canadian life insurance industry with experience as an Appointed Actuary. 
  • Fellow of the Canadian Institute of Actuaries (FCIA) & Fellow of the Society of Actuaries (FSA). 
  • Strong technical expertise in reserving, forecasting, capital management, valuation, ALM & Modelling and IFRS 17.  
  • Experience in enterprise risk management would be considered an asset.  
  • Proven ability to lead and motivate teams in a fast-paced environment. 
  • Excellent interpersonal and communication skills, with the ability to convey complex technical issues. 
  • Ability to manage multiple tasks with a high degree of accuracy 

 

#LI-AF1 #LI-Hybrid


Wawanesa is proud to be one of Manitoba’s Top Employers, a Kincentric Best Employer in Canada and a Forbes Best Employer in Canada recognizing an exceptional place to work!


Diversity Equity, Inclusion & Belonging
At Wawanesa, we are committed to Diversity, Equity, Inclusion and Belonging (DEIB) and believe that our strength lies in the diversity of our people – this is supported by having a representative workforce.

We welcome applications from all qualified candidates, including racialized persons, women, Indigenous Peoples, persons with disabilities, members of the 2SLGBTQIA+ community, gender-diverse and neurodiverse individuals, and anyone who can contribute to the further diversification of thought and ideas. 
 

We aim to ensure our recruitment process is accessible to all candidates. If you require accommodations during any stage of the recruitment process, please reach out in confidence to jobs@wawanesa.com.
 

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