Associate Director – Asset Liability Management

Job Description

What is the Opportunity?

This role leads the ALM team for activities related to Asset Liability Management (ALM) which includes (but not limited to) asset modelling, discount rate (DR) production process and earnings by source (EBS) analysis. The Associate Director will manage a team of 2-3 actuarial analysts/associates and report to the Director of ALM. The role also assists in the ad-hoc analysis and other ALM financial reporting inquiries.

What will you do?

• Lead and oversee the preparation, analysis and reporting of ALM related section under the EBS analysis, including extracting model runs details to validate reported results.

• Review and support monthly discount rate (DR) production and ALM trade quantification in Moody’s AXIS, including asset data validation and asset model enhancements.

• Review and monitoring of key actuarial assumptions, including corporate bond defaults, inflation, ultimate risk-free rate, investment expense, and liquidity premium.

• Collaborate with the Investment team to evaluate how asset strategies and ALM transactions affect liability valuation and capital.

• Provide support to internal/external teams for quarterly/annually reports such as LICAT, risk reports, AAR, materials for Board, etc.

• Lead the team in model improvement initiatives, enhancing DR processes, AXIS workflows, and actuarial methodologies.

• Support the Financial Risk Oversight team with ad hoc actuarial analysis, model investigations, and resolution of unusual results.

What will you need to succeed?

• Leadership and Management Skills
  :
  Proven ability to lead and mentor a team, fostering a collaborative and high-performance environment.

• Educational and Professional Credentials
  :
  Undergraduate degree in Actuarial Science or a related field, with a minimum of 5+ years of actuarial experience is required. Preferrable a Fellow of the Society of Actuaries (FSA or equivalent).

• Technical Expertise
  :
  Deep understanding of actuarial principles, practices, and modeling logics for valuation and financial projections. Experience with the GGY AXIS platform is required. Working experience in SQL, Tableau and R would be an asset. ALM/Investment working experience and knowledge would be an asset.

• Analytical and Problem-Solving Skills
  :
  Strong problem solving and technical skills, be able to investigate issues and provide suggestions. Preferred a candidate who is self-motivated and attention to details.

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program include competitive compensation and flexible benefits.

• Leaders who support your development through coaching and managing opportunities.

• Ability to make a difference and lasting impact.

• Work in a dynamic, collaborative, progressive, and high-performing team.

• Opportunities to do challenging work.

• Opportunities to build close relationships with clients.

You have the potential to earn more through RBC’s discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.

RBC’s compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:

• Drives RBC’s high-performance culture

• Enables collective achievement of our strategic goals

• Generates sustainable shareholder returns and above market shareholder value

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