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Title:  Senior Manager, Actuarial Services (Insurance Canada)




Requisition ID: 170037

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.


The Senior Manager, Actuarial Services, contributes to the overall success of the Valuation for Actuarial Services, Insurance Canada ensuring Insurance Canada’s specific individual goals, plans, initiatives are executed / delivered in support of the team’s business strategies and objectives. You will also ensure all activities conducted are in compliance with governing regulations, internal policies and procedures.


Is this role right for you? In this role, you will:


  • Champion a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge
  • Support the Director, Actuarial Services who leads the pricing, reserve, and lapse analysis for all Insurance Canada (including reinsurance business) and support the Financial and Analytics teams with developing reasonability checks on all premium streams
  • Support the modelling and preparation of the Financial Planning and Forecasting for Insurance Canada in collaboration with the Analytics and Finance teams as they build Financial and BI models
  • Input/Review NIRAs
  • Provide Financial planning and forecasting support for the Insurance subsidiaries
  • Provide product profitability reviews and recommendations on any product changes (i.e. premiums, features, etc.)
  • Support the model development and sample IFRS17 measurement templates in partnership with the Reinsurance Subsidiary Actuarial Services team
  • Lead the reconciliation with the previous accounting standard and the financial impact analysis from transition for the Canadian Reinsurance portfolio
  • Support with the Reinsurance Subsidiary monthly/quarterly IFRS17 actuarial valuations for required reporting to shareholders, directors and regulators. This includes fulfilment cashflows, risk adjustment, CSM, onerous testing and source of earnings
  • Supports the Reinsurance Subsidiary IFRS17 compliant annual solvency, capital adequacy and stress testing activities (which includes E18 and EWST)
  • Be responsible for monitoring and reporting on the Reinsurance Subsidiary insurance risk appetite statement and risk metrics, as applicable for the reinsurance portfolio
  • Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions
  • Actively pursue effective ended efficient operations of your respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct
  • Champion a high-performance environment that motivates your team by fostering an inclusive work environment


Do you have the skills that will enable you to succeed in this role? We'd love to work with you if you have:


  • An undergraduate degree or a graduate education with an emphasis on Actuarial Science, Statistics, Finance or Math
  • Obtained or pursuing the designation of Associate of the Canadian Institute of Actuaries (ACIA), and Associate of the Society of Actuaries (ASA) designation
  • Multiple years of related work experience in Life and Health Insurance, or related consulting experience
  • Hands on experience/knowledge using AXIS or similar actuarial modelling software
  • Experience working in/with property and casualty insurance products is an asset
  • Knowledge of creditor insurance products is an asset


Location(s):  Canada : Ontario : Toronto 

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.  

At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.

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