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Manager, Economic Capital

Date: Jun 1, 2021

Location: Winnipeg, MB, CA, R3C-3P1 Calgary, AB, CA, T2R-0E4 Moncton, New Brunswick, CA, E1E-4R5 Edmonton, AB, CA, T6E-6A8 Toronto, ON, CA, M2P-2B7 Vancouver, British Columbia, CA, V6J-4Y3

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, Economic Capital is responsible for the development, calibration, documentation and validation of economic capital modeling, stress testing and capital forecasting while working collaboratively with other business functions to promote the integration of capital modeling with business.


Job Responsibilities

 

•    Leads the effort to develop and maintain the Economic Capital Model (ECM) and related analytics, which includes identification of stress scenarios, capital analysis (regulatory and economic basis), stress testing and capital forecasting
•    Analyzes the capital impact of reinsurance, investment and strategic activities
•    Participates in the ongoing development, implementation and enhancement of various ERM / ORSA-related processes related to capital
•    Manages and provides guidance and training to direct reports involved in the modelling process ensuring best practices are being followed including model development and output review
•    Reviews and assesses model validation plans and processes using a variety of techniques such as statistical and analytical testing, estimation methods, benchmark methodologies, and accuracy checks to determine the reasonableness of results
•    Designs, implements and tests valuation/financial models to ensure Wawanesa is operating within its risk appetite and material risk tolerances and report material findings
•    Creates presentations on ORSA, ECM and stress testing, as needed
•    Promotes the concept of EC, and acts as a primary contact in the ERM team to coordinate with various departments for implementation in the development, calibration and documentation of quantitative methodologies
•    Prepares appropriate documentation consistent with professional actuarial standards and in compliance with all applicable legislation
•    Performs other duties as assigned

 

Qualifications


•    Five years’ experience in risk management, actuarial or investment practice that would ideally include: Capital Model Development, Financial Reporting, Financial Condition Testing
•    Post-secondary education in Actuarial Mathematics, Statistics, Mathematics, Finance, Economics or other related field of study
•    Strong analytical, critical thinking and problem-solving skills with the ability to effectively resolve complex situations and issues
•    Strong knowledge of core functions of an insurance company and general insurance; in depth knowledge of P&C risks, including insurance and financial risks
•    Strong knowledge of Microsoft Office Suite and other business-related software systems, including processing systems and applications, hardware and software tools, programming languages, computer modeling, and spreadsheet applications
•    Strong interpersonal, communication and presentation skills
•    Ability to effectively interact with all levels of internal and external business partners
•    Ability to identify when something needs to be done and initiates action as required
•    Adapts to change effectively
•    Ability to develop and implements comprehensive plans that bridge complex issues and span across time
•    Strong leadership skills with the ability to develop and communicate a vision
•    ACAS/FCAS designations an asset

 

 

IND2

#LI-WAWA 

 

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.

The health and safety of our employees is our top priority. In response to the COVID-19 pandemic, the majority of our workforce is currently working from home.

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


Accommodations are available as needed for all applicants.