Manager Actuarial, Insurance Risk Management

Work Location: Montréal, Quebec, Canada

Hours: 35

Line of Business: Data & Analytics

Pay Details: 110 600 $/$110, $/$165,000 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  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.

TDI Insurance Risk Management (IRM) is accountable for the IRM program across TD Insurance, relying on key activities and deliverables embedded within the accountabilities of business process, risk and control owners (first line). They are also accountable for ensuring alignment of IRM with TDI business priorities, capacity, and expertise to ensure a shared focus on common IRM objectives.

TDI IRM is accountable for the alignment of TDI with TD's Insurance Risk Policy by performing independent reviews of actuarial reserves, pricing analyses and reinsurance strategy. This also requires the challenge of various business initiatives from an insurance risk perspective, the production of reports and dashboards to be presented to different risk committees as well as the production of the ORSA report.

TDI Insurance Risk Management aims to perform risk‑based challenges that are efficient, thorough and well documented.

The Manager, Insurance risk, Life & Health ("LH") contributes to the success of the TDI Insurance Risk Management team by leading the independent review of the corporate actuarial valuation and pricing analyses, leading the production of the LH ORSA report and providing second line oversight on Change Assessment (CA). The Manager also oversees the development of insurance risk analytics and tools and leading risk indicators.

Reporting directly to the Senior Manager, Insurance

Risk Management:

• Lead the strategy and execution of the risk‑based actuarial challenge program for TDI LH and TD Reinsurance Barbados ("TDRB") including but not limited to:
  • Independent annual review of the LH Corporate Actuarial valuation
  • Independent annual review of the LH Pricing analyses
  • Reviews of the methodologies and assumptions underlying the actuarial estimation processes
  • Independent oversight of reinsurance treaty renewals and amendments
  • Documentation and communication of findings and recommendations to management and executive stakeholders
  • Delivering a program that operates in partnership with the business to add value and enable timely risk taking
• Support the execution of capital adequacy assessment processes for LH and TDRB, including but not limited to:
  • Ownership of the end‑to‑end Own Risk Solvency Assessment ("ORSA") process, including the production of the LH ORSA Report, the assessment of risks and recommended internal capital targets
  • Oversight on TDRB capital management framework and Solvency II capital ratios
  • Ensuring compliance with relevant regulatory guidelines
• Support the Model Oversight program for TDI LH and TDRB, including but not limited to:
  • Review and challenge the insurance assumptions within model risk documentation;
  • Report to TD Model Risk Management/Model Validation (TD MRM/MV) on the insurance assumptions challenge review and highlight any insurance risks aspects;
  • Support TD MRM/MV throughout the validation process;
  • Review of TD MRM/MV validation report;
  • Ensures TDI is compliant with the TD Model Risk Policy and Model Risk Policy Framework
• Responsible for the Insurance risk and Model risk…