Senior Actuarial Analyst, TD Insurance Analytics and Model Risk Oversight

Work Location:
Montréal, Quebec, Canada

Hours:
35

Line of Business:
Data & Analytics

Pay Details:
100 000$/$100,000 - 130 000 $/$130,000 CAD

This role is temporarily eligible for a pay premium above the posted salary range that is reassessed annually. You are encouraged to have an open dialogue with your recruiter who can provide more specific pay details for this role.

TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs.

As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Job Description:

Department Overview

TDI Insurance Risk Management is accountable for the Insurance Risk management ("IRM") program across TDI, relying on key activities and deliverables embedded within the accountabilities of business process, risk and control owners (first line). TDI IRM is also accountable of TDI Models oversight within TD Model Risk Management.

IRM has a mandate to ensure global compliance with the Enterprise IRM Framework and Enterprise Model Risk Management (MRM) Framework while ensuring a shared focus on common ORM objectives. IRM also performs challenge of the Corporate Actuarial unpaid claims liabilities valuation review as well as the Pricing indicated rate changes as part of the Insurance Risk Program activities. This also requires the challenge of various business initiatives from an insurance risk perspective as well as the production of the ORSA report.

Role Overview

This role will contribute in both IRM and MRM functions.

• Contribute to design enhanced insurance risk reporting and modeling that leverages risk analytics, analyze and interpret the output, and provide commentary insights to management and risk partners.
• Contribute to the TDI Model Oversight, working in partnership with TDI model owners, TDI Model Control Group and TD Model Risk Management, performing model reviews that are efficient, thorough and well documented. The reviews must bring value to our business partners by raising potential issues in models and model development and by proposing solutions to those issues.

The Actuarial Analyst III will contribute to the success of the Analytics and Model Risk Oversight team by participating in model validation activities and performing risk analytics to generate insights to stakeholders.

Analytics and Model Risk Oversight

The Actuarial Analyst III is required to be highly adaptable to changes as the risk management and modeling environments of TDI along business growth are evolving rapidly.

• Reporting to the Senior Manager TD Insurance Analytics and Model Oversight.
• Contribute to the Insurance Risk Analytics oversight for TDI GI, LH and TDRB including but not limited to:
  
  • Developing insurance risk analytics and tools to identify risk trends
  • Conduct regular in force reviews of product profitability using modeling and machine learning insights.
  • Design enhanced insurance risk reporting to provide insights to management
  • Contribute to the assumption challenge used by actuarial teams used for business decisions and risk management
• Contribute to Model Oversight program for TDI GI, LH and TDRB, including but not limited to:
  
  • Review and challenge the insurance assumptions within model risk documentation
  • Report to TD MRM/MV and support them on the insurance assumptions challenge review and highlight any insurance risks aspects
  • Review TD MRM/MV validation report
  • Ensuring TDI is compliant with the TD Model Risk Policy ("MRP") and Model Risk Policy Framework

• Contribute to building, developing and maintaining effective relationships with our risk partners
• Contribute to the development of TDI colleagues on insurance risk culture (eg. roadshows, lunch & learns etc)
• Effectively communicate risk management practices, methodologies and results of risk assessments to partners of different areas

Job Requirements

• 5+ years of actuarial experience in the general insurance field
• Bachelor degree in Actuarial Sciences or related field
• ACAS working towards his/her Casualty Actuarial Society Fellowship (preferred)
• Knowledge and interest for programming, notably SQL, VBA R and Python (preferred)
• Experience in predictive modeling such as GLMs, GA2Ms, XGBoosts
• Advanced analytical, decision-making and problem solving skills
• Client-focused and aptitude for teamwork with solid organizational and communications skills
• Highly adaptable to change
• Autonomous and perseverant; shows initiative and creativity in their work
• Recognized for their thoroughness and the quality of their work

Who We Are:

As part of TD Bank Group, one of Canada's largest financial institutions, at TD Insurance, we care for Canadian families, making it easy to get the best advice, protection, and support in their moments of need, always.

TD Insurance offers a wide range of products, including General Insurance and Life and Health. Everyday, we strive to make every interaction, product and experience remarkably human and refreshingly simple for more than four million customers who count on us.

Our Total Rewards Package
Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical, and mental well-being goals. Total Rewards at TD includes a base salary, variable compensation, and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off, banking benefits and discounts, career development, and reward and recognition programs. Learn more

Additional Information:
We're delighted that you're considering building a career with TD. Through regular development conversations, training programs, and a competitive benefits plan, we're committed to providing the support our colleagues need to thrive both at work and at home.

Please be advised that this job opportunity is subject to provincial regulation for employment purposes. It is imperative to acknowledge that each province or territory within the jurisdiction of Canada may have its own set of regulations, requirements.

Colleague Development

If you're interested in a specific career path or are looking to build certain skills, we want to help you succeed. You'll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities.

If you're passionate about helping clients and building deep, lasting relationships, TD offers diverse career paths where you can grow your expertise and make a meaningful impact.

We're committed to your success and foster a respectful workplace where diverse perspectives are valued, everyone has fair opportunities to grow, and you can unlock your full potential to achieve your career goals. Here at TD, we hire and develop the best.

Training & Onboarding
We will provide training and onboarding sessions to ensure that you've got everything you need to succeed in your new role.

Interview Process
We'll reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.

Accommodation
Your accessibility is important to us. Please let us know if you'd like accommodations (including accessible meeting rooms, captioning for virtual interviews, etc.) to help us remove barriers so that you can participate throughout the interview process.

We look forward to hearing from you!

Language Requirement (Quebec only):
Maîtrise d'une langue autre que le français pour offrir du soutien ou traiter avec des employés ou des collègues qui ont besoin de services et de soutien dans une langue autre que le français.