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Actuarial Consultant - Pricing

Date: Jul 19, 2021

Location: Toronto, ON, CA, M2P-2B7 Winnipeg, MB, CA, R3C-3P1

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 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

Our commercial insurance Actuary Pricing team is expanding therefore we are looking for exceptional candidates to take on the role of Actuarial Consultant in the Commercial Auto Pricing Team. In this role, you will analyze data, conduct predictive modeling, and use traditional pricing analysis on our existing and new commercial auto products for all Canadian jurisdictions. You will use your actuarial techniques to identify and solve business problems. In addition, you are expected to provide actuarial services or support to other pricing, corporate actuarial, product development, and system design projects.

 

Rate Review and propose pricing actions to solve business problems

  • Review loss experience of commercial auto portfolio, perform rate indication analysis and communicate results to team members and other stakeholders outside of actuarial functions, such as Product and Underwriting teams
  • Review rating algorithms utilizing latest predictive modeling technique to ensure the rating structure is reflective of emerging trends
  • Produce filing documents to regulators and explain the rationale of proposed changes clearly and concisely
  • Quantify impact of pricing proposals and prepare presentations to relevant stakeholders

Portfolio results monitoring

  • Monitor the profitability performance of commercial auto products by region, product, and various business initiatives
  • Design monitoring tools to identify key trend on products’ competitiveness, growth, and profitability performance
  • Communicate results to team members and relevant stakeholders

Peer Review and Mentoring

  • Review analysis of others for reasonableness, completeness, and accuracy
  • Train/coach other actuarial staff on actuarial methods and actively share expertise with peers
  • 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, Associate of the Society of Actuaries, or equivalent.
  • Minimum of 5 years’ prior work experience in insurance or related field. P&C actuarial pricing experience required
  • Positive attitude. Ability to adapt to change. A team player. 
  • Innovative. Strong analytical skills. A critical thinker.
  • Understanding of database systems and how to interpret/extract data from those systems
  • Ability to apply knowledge of actuarial science, mathematics, probability, statistics, principles of finance and business to problems in insurance
  • Ability to ask effective questions to elicit detailed and relevant information
  • Proficiency with relevant modeling software such as Emblem, R, SAS would be an asset
  • Knowledge of Radar and Classifier is preferred

 

 

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 full-time permanent employees are provided with highly competitive compensation packages (salaries, generous vacation allowance, leave top up, annual bonus plan, premium free benefits and a pension plan). Wawanesa provides a stable environment for its employees in today’s challenging markets. We’re also proud to give our employees in Canada the flexibility to choose how and where they want to work. Options in most roles include work from the office, from home, or a hybrid mix of time spent at both.
 

Wawanesa is an equal opportunity employer and is committed to fostering a diverse workforce that is equitable and inclusive for all. Wawanesa provides equal employment opportunity to all employees and applicants without regard to an individual’s protected status: race/ethnicity, color, religion, creed, sex or gender, sexual orientation, gender identity or expression, family or marital status, pregnancy/childbirth or related conditions, national origin, disability, military or veteran status, or any other protected status. Accommodations are available upon request throughout all aspects of the selection process. Candidates requiring accommodations may contact, in confidence, jobs@wawanesa.com.


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