Senior Actuary Ii Jobs

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Summary
This role will lead the development of analysis to support the growth and performance of BCAA’s insurance portfolio through varied projects. These include analysis of rate adequacy, loss and premium trends, deepening our understanding of our insurance portfolio, developing solutions to enhance our rating sophistication and insurance products and supporting the management of risk through our reinsurance program. They will also be responsible for developing the analytical skills of junior colleagues.
Please note that this is a hybrid role based out of our Head Office location in Burnaby, BC. In this role, you will be required to come into the office on our Core days each week (Tuesdays and Thursdays).
Key Responsibilities & Subsequent Duties
Modelling and Analytics

• Lead the development of both statistical and algorithmic predictive models as appropriate to the project
• Examine analysis or modelling approach for shortfalls in data or methodology and seek opportunities to improve the analysis
• Ensure analysis is appropriately checked and tested and models are tuned using validation techniques and performance metrics
• Lead junior team members through their analysis and review their work
• Extract, explore and analyze data using a variety of tools
• Lead analysis work, producing data summaries, tables, charts, visualizations, maps that provide insight to the business and make recommendations for optimized decisions
• Collaborate with business stakeholders to develop analysis scope and goals
• Summarize insights from analysis and make recommendations to senior team members and business stakeholders

Actuarial Analysis

• Ensure that back testing and reconciliation of rate indications is undertaken and develop improvements to accuracy and the quality of insights generated
• Lead the analysis of loss development trends to support reserving
• Lead the development and delivery of recommendations for price, coverage or underwriting changes to maintain the performance of the insurance portfolio, including dislocation analysis and assessments of the impacts on profitability, growth, competitiveness, close ratio and retention
• Lead rate indication analysis for various insurance products on a regular basis, including loss and premium trending and loss development
• Lead monitoring of the performance of the portfolio and identification of changes in portfolio makeup and demographics over time
• Support the development of predictive models to identify and maintain the optimum pricing structure
• Summarize conclusions, insights and recommendations to senior team members and business stakeholders
• Lead junior team members work on actuarial analysis and review their work
• Develop pricing recommendations relating to changes to or introduction of new products and coverages
• Manage the implementation of pricing algorithms

Reinsurance and Catastrophe

• Lead the provision of information for use by reinsurers and BCAA’s reinsurance broker
• Work with external catastrophe and loss models to inform BCAA’s reinsurance strategy, pricing and coverage relating to those risks and planning for extreme events
• Support the maintenance and development of BCAA’s reinsurance program

Dashboarding, Reporting and Automation

• Support junior team members in developing tracking metrics and design of dashboards

Data Preparation

• Collaborate with colleagues from around the organization to define data requirements
• Work with complex datasets – sourcing, querying, cleaning, transformation
• Manage relationships with 3rd party vendors and the access and use of data from external parties
• Identify shortcomings in data which may influence analysis conclusions and seek opportunities to make improvements

Research

• Research new approaches and tools, including assessing their effectiveness and making recommendations for their use within the analytics team
• Project based research

Communication

• Present results of analysis to business stakeholders at all levels of the organization
• Prepare and deliver presentations, papers and email deliverables with conclusions
• Collaboration with multi-functional project teams to identify opportunities to provide insights through analysis

Learning, Development and Mentoring

• Self-motivated continuous development of technical knowledge of modelling, coding, visualization and analytical tool use, insurance pricing, the insurance industry, reinsurance, catastrophe modelling and actuarial techniques
• Proactively share knowledge across the team
• Develop and define analytics best practices such as documentation, version control, use of tools, assessment frameworks, etc and ensure adoption of these practices within the analytics team
• Support the development of junior colleagues through mentoring, coaching and technical training
• Support the recruitment of new employees, including developing interview case studies and participating in interviews

Qualifications
Education

• Bachelor's Degree and Post graduate Degree program preferred in any of: Statistics, Actuarial Science, Mathematics, Computer Science, Data Science, Natural Sciences, Engineering or similar discipline with emphasis on quantitative analysis and methods
• Fellow Level Actuary or Associate Level Actuary

Experience

• Minimum Six Years Experience in an analytical role
• OR equivalent combination of education and experience
• Experience in an analytical role: Six year minimum
• Experience in an Actuarial/insurance related role: Five year minimum

Other Skills/Qualifications

• Desire to learn and continuously develop both technical and non-technical skills and develop skills of others
• Strong ability to work with varied database structures and logic and use of data science and statistical tools / languages such as R, Python, SAS
• Deep analytical capabilities, including critical thinking with strong attention to detail
• Understanding of dashboarding/visualization tools such as PowerBI, Tableau
• Curious, questioning approach to analytics
• Highly organized with demonstrated experience in solving problems
• Able to both work independently, lead project teams and collaborate as part of cross functional teams
• Expert knowledge of the P&C insurance industry and actuarial techniques
• Excellent written communication
• Understanding of other analytics tools, such as GIS software
• Excellent interpersonal skills
• Strong experience with applying predictive modeling techniques within an insurance setting, including use of GLMs, logistic regression, clustering techniques and machine learning algorithms
• Strong presentational skills, including ability to present to varied stakeholders at all levels and both technical and non-technical audiences
• Demonstrated experience in developing the analytical skills of colleagues

Internal candidates please note that this is a Grade 16 role. The posting will be available until June 15, 2023.
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