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Manager, Individual - Insurance Products

Date: Jul 13, 2019

Location: Winnipeg, MB, CA, R3C-1A8

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, Individual Insurance Products is responsible for the actuarial pricing of individual insurance and investment products to support reasonable expected profitability while maintaining acceptable levels of risk.

 

Job Responsibilities:

  • Review and report on product design risk and level of profitability for all currently issued products.
  • Analyze the overall profitability of the individual insurance and investment products by line of business. 
  • Keep informed of current industry product information and trends in product changes. 
  • Work with multiple areas of the company to design products that align with the Company’s strategies for the short and long term.
  • Develop and maintain pricing models to determine premiums and projected financial results. 
  • Set pricing assumptions to reflect future expected experience taking into account all relevant industry and company experiences. 
  • Ensure policy illustration systems appropriately illustrate products and comply with CLHIA guidelines. 
  • Annually review and recommend changes to adjustable policies, ensuring compliance with established criteria and fairness to policyholders. 
  • Annually evaluate the management of the participating account, the dividend policy and recommend changes to the dividend scale, ensuring compliance with the policy and fairness to participating policyholders.
  • Work with reinsurers during product pricing exercises and in evaluating the individual reinsurance program, recommending changes as required.
  • Maintain sound knowledge of the current valuation standards and current capital and regulatory requirements.
  • Manage performance of direct reports inclusive of providing professional and technical guidance and provide regular performance reviews.
  • Perform other duties as assigned, handling special projects as assigned by the Director, Individual – Insurance Products. 
Qualifications
  • Undergraduate university degree in Actuarial Mathematics, Statistics, Mathematics or other related field of study.

  • Fellow of the Canadian Institute of Actuaries (FCIA), complying with continuing education requirements.

  • 5 years of actuarial work experience with 3 years related to individual life insurance pricing.

  • Detailed knowledge of policyholder taxation and general knowledge of corporate taxation.

  • Excellent analytical and problem solving skills with the ability to understand context and its impact on all issues.

  • Ability to work independently and identify potential impacts of decisions while coaching others in effective decision making.

  • Excellent communication skills both written and verbal, with the ability to deliver powerful presentations.

  • Ability to lead and complete large complex projects with multiple contributing parties.

  • Strong leadership skills.

 

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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