Director, Individual UL and Non-Par Valuation

Position Title: Director, Individual UL and Non Par Valuation
Reports To: Financial Reporting and Capital Management Vice President   
Department: Finance
Term: Permanent Full-Time


Work Arrangements: This is a hybrid role. You will work in our office in Waterloo, ON a minimum of two (2) assigned, consecutive days every other week, plus a fifth (5th) assigned day per month. You are welcome to work from the office more than the minimum requirement and there may be some roles that are required to work in our office more than the minimum requirement.

The Opportunity: Equitable is growing! We are looking for a Director, Individual UL and Non Par Valuation to join our Finance team!

This role will provide quarterly financial reporting and analysis of the Individual UL and Non Par line of business to various users at Equitable and external auditors.  

Now is an exciting time to join one of the Waterloo Area’s and Southwestern Ontario’s Top Employers for 2024!

What you will be doing:

• Responsible for valuation of all Individual UL and Non Par policies on a quarterly basis. This includes valuation system maintenance and enhancement, assumption implementation and sensitivity testing, scenario testing, calculation of reserves and capital requirements, source of earnings analysis, providing finance department with appropriate journal entries reflecting reserve changes and analysis of reserve changes.
• Present quarterly results to various stakeholders, including CFO, Chief Actuary, Head of Individual Insurance business, among other senior leaders
• At year end, provide additional analysis, exhibits, summaries, and documentation required for the report of the Appointed Actuary and OSFI Life returns
• Provide liability cash flows to Investment Department for asset/liability matching, capital information for LICAT purposes, and sensitivity results for Risk reporting.
• Provide support to Individual pricing team in analysis of Profit and Loss.
• Development of five-year business plan for Individual UL and Non Par line of business
• Analysis of financial position of Individual UL and Non Par line of business when subjected to changing assumptions with respect to mortality, lapse, interest, expenses and interest environment. Results are presented to the Audit Committee of the Board and are required by OSFI.
• Provide input and system change specifications from a valuation perspective when new products are developed, blocks of business are acquired, or new administration systems are implemented.
• Lead and develop a team of Actuarial Analysts

What you will bring:

• Require degree in Mathematics, preferably in Actuarial Science
• Completion of FSA, FCIA requirements, understanding of CIA standards, and valuation experience.
• Require thorough knowledge of current valuation systems, competence in AXIS, RiskIntegrity, EXCEL, ACCESS, SQL
• Require knowledge of Individual products
• Require financial reporting experience
• Preference for experience with stochastic modeling and/or using Economic Scenario Generation tools
• Strong problem solving and communication skills

What’s in it for you:

• A healthy work-life balance with employee wellness top of mind
• Annual bonus program, annual vacation allowance, and company-paid benefits program
• An additional paid volunteer day each year so you can spend time giving back to the community
• Immediate enrollment in the company’s pension program with employer matching
• Employee resource groups that support an inclusive work environment
• Tuition support and specialized program assistance
• An onsite, full-service cafeteria with a variety of daily options
• Discounts on company products and services, and access to exclusive employee perks
• Regular EQ Together events focused on company togetherness and collaboration
  
  

As part of the recruitment/offer process you will be required to:

• Provide two professional references (minimum one supervisor and above)