Careers - Actuarial Analyst Co-op Student
Reporting to:
Actuarial Manager, Valuation
Location:
Remote / 2235 Sheppard Avenue E / 777 Bay Street
Status:
Full Time Contract – January-April 2025
Posting Date:
October 7, 2024
Closing Date:
October 30, 2024
About Facility Association
Facility Association ensures the availability of automobile insurance to owners, lessees and licensed drivers of motor vehicles who are eligible. We are an unincorporated non-profit association of insurers. FA operates in Ontario, Alberta, Newfoundland and Labrador, New Brunswick, Nova Scotia, Prince Edward Island, Yukon, Nunavut, and Northwest Territories. Every insurer licensed to write automobile liability insurance in these jurisdictions is a member of Facility Association. The affairs and business of FA is managed and controlled by a Board of Directors with authority Canada-wide. The President and CEO is responsible for the day-to-day operations of the organization and management of staff.
The FA actuarial team offers opportunities to work collaboratively in valuation, pricing and data analytics, and to work with stakeholders in the claims, underwriting and finance departments, as well as our member companies and external stakeholders. This specific role focuses on valuation (reserving), with future opportunities for rotation to different departments as well as opportunities to work on cross-functional projects.
We are seeking a co-op student for either a 4-month or 8-month contract.
Duties and Responsibilities:
- Contribute to analyses using actuarial data, (reserve valuation, financial projections, financial reporting, ad-hoc analysis, etc.), disclose relevant assumptions, observations and conclusions to the appropriate stakeholders within the established timelines.
- Work with actuarial databases and queries; extract and reconcile data.
- Create and update reports and exhibits on key business metrics to support decision-making, management reporting and communications with internal and external stakeholders.
- Conduct valuation analyses of claims liabilities and work with the valuation team to select appropriate IBNR provisions, payment patterns and loss ratio projections at a reserving segment level.
- Apply critical thinking skills to solve problems, enhance work processes, and translate the impact of real-world issues into numerical models.
- Maintain documentation and risk controls throughout the actuarial processes.
- Develop presentation and/or communication materials for member committees, internal stakeholders, rating agencies, regulatory and industry presentations.
Experience and Qualifications:
As an actuarial analyst co-op student, you demonstrate:
- Enrollment in a University or college degree in actuarial science, mathematics, statistics or a related field
- Strong knowledge of Microsoft Office software (Excel, Access, Word, PowerPoint)
- Knowledge of at least one programming language (SQL, SAS, VBA, Python, R, etc.) is an asset
- Strong analytical and problem-solving skills
- Positive, team-oriented attitude
- Detail and deadline oriented
- Ability to be flexible, learn quickly, and adapt to changes in technology and techniques
- Progression in CAS exams is an asset
- Property and Casualty insurance experience is an asset
- Experience using GISA/IBC data and exhibits (i.e. Canadian automobile insurance industry statistical data) is an asset
- Experience with Milliman Arius valuation software is an asset
This position qualifies under the FA Employee Referral Program.
Facility Association is committed to providing accommodation for people with disabilities. Applicants need to make their needs known in advance.
FA is proud to be an equal opportunity employer. Alongside a commitment to excellence, FA is also committed to building a diverse working environment with hiring practices that encourage diversity in all its forms, including race, gender, sexual orientation, religion and ethnicity, among others.
Please be advised that only those applicants who are selected for interviews will be contacted.
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