Actuarial Analyst - Risk Management - Winter 2025 (Co-op/Internship) - 4 Months

at  BMO Financial Group

250 Yonge Street Toronto Ontario,M5B 2L7
This position is a junior level actuarial analyst role working within the risk management team. The application of risk management and economic capital frameworks are evolving rapidly in the life insurance industry. As a highly sought-after area of professional growth, this role provides exposure to economic capital models and risk analytics applied within a well-defined risk management framework. The ability to contribute to projects ranging from risk analysis and reporting to maintaining the risk team’s models within a controlled framework will provide an excellent opportunity to grow the necessary level of professionalism in order to consistently deliver high quality products necessary in today’s highly competitive environment.

Provides oversight, monitoring and reporting on actuarial and insurance related risks for a designated portfolio. Develops and monitors the risk management framework that includes the governance framework & practices leveraged across BMO to manage actuarial and insurance related risk. Provides policies & standards, methodologies and controls that increase transparency, accuracy and consistency across groups. Works with stakeholders to implement the methodology, metrics and program standards for the assigned portfolio to ensure compliance as well as effective monitoring, timely reporting and identification of action plans.

• Assists with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.
• Supports development and execution of strategic initiatives in collaboration with internal and external stakeholders.
• Manages databases and provides support for analysis, forecasting and/or data visualization, ensuring adherence with data governance standards.
• Supports change management of varying scope and type; tasks typically focused on execution and sustainment activities.
• Supports the development of tailored messaging, which may include writing, editing and distributing communications.
• Assists with the maintenance, monitoring, measurement & reporting on the status of the insurance risk governance program and key risk indicators to internal & external stakeholders.
• Supports the management of governance meetings (e.g. committee, management, board meetings, etc.) as required; facilitates development and approval of agendas, gathering and distribution of documentation related to agendas, and creation of meeting minutes/output.
• Coordinates and monitors the review and sign-off of regulatory reporting and attestations.
• Administers and maintains the actuarial and insurance related risk monitoring and control program activities in adherence to all policies, procedures and established processes.
• Reviews new business initiatives and monitors existing initiatives to identify potential risk situations/ impacts; makes recommendations or escalates to the manager, as per guidelines.
• Monitors the financial market environment and actuarial / insurance risk model performance impacts for optimal execution of risk strategies.
• Independently administers and evaluates models, model assumptions, and key metrics used for the measurement of actuarial and insurance related risk for adherence to all policies and procedures; documents and reports results of evaluations on an individual and summary basis.
• Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken as necessary.
• Provides advice and guidance to assigned business/group on implementation of the risk framework, including effective challenge.
• Coordinates and participates in the execution of oversight/governance activities including reporting; assessment of education & training needs, development/delivery of training; development and execution of regulatory administration processes & procedures.
• Consults with stakeholders to improve consistency and transparency of risk measurement, metrics and reporting.
• Supports the development and maintenance of the governance system and framework including supporting policy/standard/operating procedures lifecycle management, education and training assessments.
• Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance.
• Builds effective relationships with internal/external stakeholders.
• Analyzes data and information to provide insights and recommendations.
• Monitors and tracks performance; addresses any issues.
• Focus may be on a business/group.
• Thinks creatively and proposes new solutions.
• Exercises judgment to identify, diagnose, and solve problems within given rules.
• Works mostly independently.
• Broader work or accountabilities may be assigned as needed.QUALIFICATIONS:
• As a full-time employee, we would require 2-4 years of experience, however as part of the BMO campus program, we are looking for motivated individuals with a strong desire to learn.
• Knowledge and understanding of insurance risk management and actuarial practices.
• Knowledge of insurance products.
• Knowledge of financial modelling including understanding of statistics, risk or other quantitative metrics
• In-depth knowledge & experience with risk policy frameworks; quality control / testing frameworks.
• Specialized knowledge from education and/or business experience.
• Verbal & written communication skills - In-depth.
• Collaboration & team skills - In-depth.
• Analytical and problem solving skills - In-depth.
• Influence skills - In-depth

• Assistance in ORSA process and reporting.
• Support product risk reviews when necessary.

Provides oversight, monitoring and reporting on actuarial and insurance related risks for a designated portfolio. Develops and monitors the risk management framework that includes the governance framework & practices leveraged across BMO to manage actuarial and insurance related risk. Provides policies & standards, methodologies and controls that increase transparency, accuracy and consistency across groups. Works with stakeholders to implement the methodology, metrics and program standards for the assigned portfolio to ensure compliance as well as effective monitoring, timely reporting and identification of action plans.

• Assists with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.
• Supports development and execution of strategic initiatives in collaboration with internal and external stakeholders.
• Manages databases and provides support for analysis, forecasting and/or data visualization, ensuring adherence with data governance standards.
• Supports change management of varying scope and type; tasks typically focused on execution and sustainment activities.
• Supports the development of tailored messaging, which may include writing, editing and distributing communications.
• Assists with the maintenance, monitoring, measurement & reporting on the status of the insurance risk governance program and key risk indicators to internal & external stakeholders.
• Supports the management of governance meetings (e.g. committee, management, board meetings, etc.) as required; facilitates development and approval of agendas, gathering and distribution of documentation related to agendas, and creation of meeting minutes/output.
• Coordinates and monitors the review and sign-off of regulatory reporting and attestations.
• Administers and maintains the actuarial and insurance related risk monitoring and control program activities in adherence to all policies, procedures and established processes.
• Reviews new business initiatives and monitors existing initiatives to identify potential risk situations/ impacts; makes recommendations or escalates to the manager, as per guidelines.
• Monitors the financial market environment and actuarial / insurance risk model performance impacts for optimal execution of risk strategies.
• Independently administers and evaluates models, model assumptions, and key metrics used for the measurement of actuarial and insurance related risk for adherence to all policies and procedures; documents and reports results of evaluations on an individual and summary basis.
• Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken as necessary.
• Provides advice and guidance to assigned business/group on implementation of the risk framework, including effective challenge.
• Coordinates and participates in the execution of oversight/governance activities including reporting; assessment of education & training needs, development/delivery of training; development and execution of regulatory administration processes & procedures.
• Consults with stakeholders to improve consistency and transparency of risk measurement, metrics and reporting.
• Supports the development and maintenance of the governance system and framework including supporting policy/standard/operating procedures lifecycle management, education and training assessments.
• Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance.
• Builds effective relationships with internal/external stakeholders.
• Analyzes data and information to provide insights and recommendations.
• Monitors and tracks performance; addresses any issues.
• Focus may be on a business/group.
• Thinks creatively and proposes new solutions.
• Exercises judgment to identify, diagnose, and solve problems within given rules.
• Works mostly independently.
• Broader work or accountabilities may be assigned as needed.QUALIFICATIONS:
• As a full-time employee, we would require 2-4 years of experience, however as part of the BMO campus program, we are looking for motivated individuals with a strong desire to learn.
• Knowledge and understanding of insurance risk management and actuarial practices.
• Knowledge of insurance products.
• Knowledge of financial modelling including understanding of statistics, risk or other quantitative metrics
• In-depth knowledge & experience with risk policy frameworks; quality control / testing frameworks.
• Specialized knowledge from education and/or business experience.
• Verbal & written communication skills - In-depth.
• Collaboration & team skills - In-depth.
• Analytical and problem solving skills - In-depth.
• Influence skills - In-depth.