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Manager, Actuarial Pricing R&D

Date: Jul 29, 2019

Location: Toronto, ON, CA, M2P-2B7

Company: Wawanesa Insurance

 

Wawanesa Mutual Insurance is one of the largest property and casualty insurers in Canada with $3 billion in annual revenues and assets of more than $9 billion. Wawanesa Mutual, founded in 1896 with executive offices in Winnipeg, is the parent company of Wawanesa General, which offers property and casualty insurance in California and Oregon, and Wawanesa Life, which distributes life insurance products and services throughout Canada. With over 3,500 employees, Wawanesa proudly serves over two million policyholders through nine regional offices and 41 service offices in Canada and the United States.  Wawanesa actively gives back to organizations that strengthen communities where it operates, donating well above internationally recognized benchmarks for excellence in corporate philanthropy.
 
We are currently looking for dedicated, driven, and enthusiastic individuals who thrive in an environment that welcomes change and are looking for an opportunity for diverse experience, advancement on a growing team.

 

Job Overview

Working under minimal supervision, the Manager of Actuarial Pricing leads the Research and Development team and be the liaison between pricing and analytics to research/implement new methods to be used in pricing by completing timely actuarial rate analysis for all relevant jurisdictions.

 

Job Responsibilities:

  • Lead the pricing best practices area (centres of excellence) of indications, predictive modeling, and competitive analysis, including training and knowledge transfer.
  • Research/Implement new methods to be used in pricing by building Machine learning models, explore new applications/datasets to supplement the work of the regional pricing teams, churn model for retention, and Price Optimization.
  • Develop and maintain rating structures and rates, inclusive of soliciting input from multiple areas of the company.
  • Provide oversight of actuarial analysis of insurance rates, rating procedures and rating plans.
  • Prepare necessary regulatory filings, ensuring the actuarial practices are consistent with accepted actuarial practice and correctly applied.
  • Assist with the implementation of approved refinements to current risk classification systems (rating plans), pricing models and ratemaking methodologies as appropriate to meet the organizational objectives.
  • Work with multiple areas of the company to identify profitable markets and design appropriate products.
  • Remain up to date on current accepted methodologies and new emerging methodologies in insurance pricing.
  • Ensure procedures are in place to collect the relevant data necessary for the pricing process and verify its availability, completeness and accuracy.
  • Monitor the company’s insurance portfolio relating to changes in mix of business, retentions, current/prospective profitability etc. and report to management as necessary.
  • Maintain statistical databases necessary for product pricing and product development.
  • Ensure required regulatory reporting for pricing activity is carried out.
  • Manage performance of direct reports inclusive of providing professional and technical guidance and provide regular performance reviews.
  • Play an active role in the interpretation of data and statistical studies in the pricing area.
  • Develop and maintain appropriate relationships with regulators and professional associations.
  • Perform other duties as assigned

Qualifications

  • Undergraduate university degree in Actuarial Mathematics, Statistics, Mathematics or other related field of study.
  • Associate of the Casualty Actuarial Society (ACAS) Designation
  • At least 5 years experience in the Property Casualty insurance industry and insurance operations with some experience in a leadership role.
  • Extensive knowledge of current insurance pricing techniques.
  • In depth experience with Emblem, Radar and/or Classifier or related software
  • Excellent communication skills both written and verbal.
  • Excellent analytical and problem-solving skills with the ability to understand context and its impact on all issues
  • Ability to Identify when something needs to be done and initiates action as required
  • Proven ability to adapt to change effectively
  • Develop and implements comprehensive plans that bridge complex issues and span across time
  • Demonstrated strong leadership skills with the ability to develop and communicate a vision
  • Fellow of the Casualty Actuarial Society (FCAS) is an asset
  • Experience with R and Python is an asset

 

Wawanesa provides its employees with a respectful, challenging and rewarding environment where they can maximize their potential while contributing to the company’s goals. Our employees are provided with highly competitive compensation packages (salaries, generous vacation allowance, leave top up, goal achievement plan, premium free benefits and a pension plan).  Wawanesa provides a stable and rewarding environment for its employees in today’s challenging markets.


If you are interested in this exciting, challenging position with Wawanesa, apply today with your Resume.


Accommodations are available as needed for all applicants.

 

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