Manager, Actuarial

at  Farm Mutual Re

JOIN THE ONTARIO MUTUAL AUTOMOBILE PLAN (OMAP) TEAM AND EXPERIENCE THE PASSION IT TAKES TO EMPOWER AND ADVANCE OUR MUTUAL INSURANCE COMMUNITY!

We have an excellent opportunity to join one of Waterloo Region’s top employers as a Manager, Actuarial in our Ontario Mutual Automobile Plan (OMAP) department. With this position, you will have the opportunity to join a culture that takes pride in being honest, delivering on promises and is committed to doing what is right.
OMAP is a department which provides product, underwriting, actuarial, regulatory, and systems support to a group of Ontario Mutual Insurance Association (OMIA) companies that underwrite automobile insurance in Ontario and have elected to do a common filing with the Financial Services Regulatory Authority (FSRA). This group of 30 mutual insurance companies writes a combined annual automobile insurance premium base of approximately $350M.
The Manager, Actuarial will report directly to the VP of the Ontario Mutual Automobile Plan (OMAP). The successful individual will be a pivotal member of the department, responsible for delivery of actuarial rate indications and statistical models supporting the Ontario Mutuals’ shared automobile insurance product. Auxiliary responsibilities include communicating proposed changes with business partners, providing input on product, underwriting rules, and growth strategy, and keeping updated on a changing regulatory and competitive market environment.
This position offers a hybrid work schedule. In-office frequency is usually 2-3 days per month.

YOUR SKILLS AND QUALIFICATIONS:

• A degree in actuarial science, statistics, or another related field
• FCAS or near-FCAS designation. Experienced ACAS candidates may also be considered.
• At least 5 years’ experience in an actuarial role, including at least 2 years of experience in auto pricing
• Prior experience completing auto rate filings with FSRA, or other provincial regulators
• Expert proficiency using excel spreadsheets and working knowledge of business intelligence tools
• Experienced in a variety of data processing and programming languages, primarily R and including any of SQL, VBA, C-based languages, Python, etc.
• You possess strong communication and relationship management skills, including presenting data to non-technical audiences and presenting proposals and results to executive audiences

The successful candidate can expect to:

• Train and develop actuarial analysts, conduct performance reviews, and provide coaching
• Complete rate filings with the regulator (complete actuarial rate indications [including determination of loss trends, premium trends, on-leveling, loss development factors, and sensitivity testing], justify rate change proposals, complete filing requirements in ARCTICS and respond to questions from the regulator)
• Perform exploratory data analysis and use analytics software to make predictive models and monitor performance on auto pricing and related KPIs (closing rates, retention, telematics, etc…)
• Clearly communicate proposed changes to business partners, and answer colleague and stakeholder questions to ensure the intent of changes is properly understood
• Provide input on product, underwriting rules and growth strategy
• Keep updated on a changing regulatory and competitive environment