Senior Actuarial Associate - BMO Insurance

02/13/2025

Address:

250 Yonge Street

Customer Solutions

Opportunity:

Reporting to the Director & Pricing Actuary, this is an opportunity that allows for you to grow your skills and knowledge on Wealth products pricing, including Single Premium Immediate Annuity (SPIA), Structured Settlement Annuity (SSA), and Segregated Fund.

Collaborate with cross-functional teams and work on a variety of projects that will keep you engaged and continuously learning.

Role:

• Quarterly new business profitability calculation and reporting for Wealth products.
• Pricing of Wealth product initiatives.
• Research and implementation of solutions to support and improve Wealth product modeling.
• Daily review of SPIA and SSA credited rates and reprice if needed to maintain market competitiveness.
• Support special quote requests for Wealth product.
• Effective communication and collaboration with internal stakeholders to support the delivery of pricing results.
• Partnering with Product, Risk, Valuation, and other teams to identify areas of improvement in Wealth products to support profitable business growth.
• Detailed documentation of pricing activities such as assumption selection, pricing approach selection, model changes, etc..
• Review and streamline of pricing team’s process to improve efficiency.

Qualifications:

• 5+ years experience working in actuarial pricing roles with focus on Wealth product pricing.
• Advanced knowledge of IFRS 17 accounting standards and Canadian Life Insurance Capital (LICAT).
• Advanced knowledge of stochastic modeling would be an asset.
• Advanced experience with relevant software/programming language such as AXIS, Python, and/or other industry modeling software.
• Advanced knowledge of Excel including VBA.
• Well-developed organizational skills with ability to manage competing priorities.
• Effective written and verbal communication skills.
• Ability to develop innovative solutions.
• Completion of a university degree with courses in actuarial science or mathematics.
• ASA working towards FSA designation.

$60,000.00 - $111,700.00

Salaried

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at https://jobs.bmo.com/ca/en.

BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.