Senior AI Actuarial Specialist

Office

Location:

Ottawa (ON);
Calgary (AB);
Halifax (NS);
Montreal (QC);
Toronto (ON);
Vancouver (BC)

Travel Requirement: Limited

Language Skill Levels (Read/Write/Speak): ZZZ

Security Requirement: Secret

Salary: Our salaries generally range from $101639.3 to $127049.13 and are based on qualifications and experience.

Join the Model Risk Management team, in the Senior AI Actuarial Specialist position. In this role, you will apply advanced actuarial and analytical skills, along with a strong understanding of the Canadian financial and mortgage sectors, to support CMHC’s modelling initiatives, including model development and validation, and the interpretation of model results to inform decision making, enhance risk management and build automated systems.

• Validate a wide range of models (actuarial, financial, pricing, risk and AI — including ML, LLM and generative AI) by assessing their assumptions, methodologies and risk levels in line with established actuarial and AI frameworks.
• Ensure regulatory and governance compliance, including adherence to CMHC’s Model Risk Management Policy, OSFI’s E-23 guideline, IFRS
  17 standards and regulatory capital frameworks.
• Apply rigorous quantitative methods and structured monitoring, including econometrics, economic capital modelling and statistical analysis (Python, R, SAS), while establishing performance metrics, comprehensive documentation and change management controls.
• Co-develop and maintain quantitative models used for underwriting, pricing, stress testing, capital adequacy, business analytics and automated tools, ensuring full lifecycle management in accordance with model risk management policies.
• Provide technical and analytical expertise.
• Analyze business challenges and deliver recommendations using modelling and validation expertise, ensuring models accurately reflect current market conditions and dynamics.
• Support and guide stakeholders in using and interpreting models by clearly communicating results, model risks and limitations.
• Foster effective and sustainable collaboration with internal and external partners to support knowledge transfer, operational compliance and the long-term sustainability of systems and automated tools.

• A minimum of three years of experience in model validation, model development, quantitative research or actuarial work within a financial institution, insurance company, asset management firm or academic/research environment.
• Strong actuarial and quantitative foundation, including a solid understanding of mathematical finance, risk management, pricing principles and actuarial methodologies.
• Proficiency in Python for model development, data analysis and automation; working knowledge of R and/or SAS.
• Knowledge of model risk management concepts, governance frameworks and validation best practices.
• Good understanding of the Canadian financial sector, real estate markets and the mortgage ecosystem.
• Excellent analytical, written communication and presentation skills.

• An actuarial designation (FCIA, FSA or equivalent) or significant progress toward one.
• Knowledge of large language models (LLMs) and agentic AI frameworks, along with their practical applications in financial services.
• Hands-on experience with generative AI (GenAI) tools and big data ecosystems (e.g., Hadoop, HDFS, Hive, Spark).
• Experience working in a regulatory environment or with OSFI supervisory processes.

Note, the competition will remain active until filled.

We’re committed to employment equity and encourage women, Indigenous Peoples, persons with disabilities, veterans and persons of all races, ethnicities, religions, abilities, sexual orientations, and gender identities and expressions to apply. We also welcome applications from non-Canadians who are eligible to work in Canada. CMHC is an inclusive workplace where diversity of thought – and of people – are recognized, valued, and considered essential to achieving our mission.