Application Deadline: 09/18/2025

Address: 250 Yonge Street

Job Family Group: Audit, Risk & Compliance

This position is a junior level actuarial analyst role working within the risk management team. The Actuarial Analyst is accountable to liaise with the Senior Manager/Director, Risk Management BMO Insurance, to execute the calculations and analysis required for economic capital, earnings at risk and other risk requirements.

In addition, this role provides support to the overall Risk Reporting on a monthly and quarterly basis.

Knowledge

• Pursuing a degree in Actuarial Science / Mathematics, or any other Quantitative Discipline.
• Has successfully completed 1+ Actuarial Exams (offered through the Society of Actuaries).
• Experience using AXIS (actuarial modeling software), Excel (with VBA), Python, R and/or other Statistical Modeling Software is a plus
• Product knowledge of Traditional, Term, and Universal Life products is a plus
• Understanding of Corporate Reporting Process (Valuation, Projections) and/or pricing analysis methodology & reporting is a plus
• COOP working term experience is a plus

Additional Job responsibilities include:

Economic capital Modeling

• Assist in forecasting of economic capital.
• Assist in reviewing model performance and recommending enhancements.
• Implement model enhancements and process improvements.
• Assist in setting annual economic capital limits and associated testing.
• Assist in development of new models as required.

Risk reporting and analysis

• Assist in producing monthly/quarterly risk reports, economic capital reports.
• Assist in implementing model enhancements and process improvements.

Other Responsibilities may include

• Assistance in ORSA process and reporting.
• Support product risk reviews when necessary.

Provides oversight, monitoring and reporting on actuarial and insurance related risks for a designated portfolio. Develops and monitors the risk management framework that includes the governance framework & practices leveraged across BMO to manage actuarial and insurance related risk. Provides policies & standards, methodologies and controls that increase transparency, accuracy and consistency across groups. Works with stakeholders to implement the methodology, metrics and program standards for the assigned portfolio to ensure compliance as well as effective monitoring, timely reporting and identification of action plans.

• Assists with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.

• Supports development and execution of strategic initiatives in collaboration with internal and external stakeholders.

• Manages databases and provides support for analysis, forecasting and/or data visualization, ensuring adherence with data governance standards.

• Supports change management of varying scope and type; tasks typically focused on execution and sustainment activities.

• Supports the development of tailored messaging, which may include writing, editing and distributing communications.

• Assists with the maintenance, monitoring, measurement & reporting on the status of the insurance risk governance program and key risk indicators to internal & external stakeholders.

• Supports the management of governance meetings (e.g. committee, management, board meetings, etc.) as required; facilitates development and approval of agendas, gathering and distribution of documentation related to agendas, and creation of meeting minutes/output.

• Coordinates and monitors the review and sign-off of regulatory reporting and attestations.

• Administers and maintains the actuarial and insurance related risk monitoring and control program activities in adherence to all policies, procedures and established processes.

• Reviews new business initiatives and monitors existing initiatives to identify potential risk situations/ impacts; makes recommendations or escalates to the manager, as per guidelines.

• Monitors the financial market environment and actuarial / insurance risk model performance impacts for optimal execution of risk strategies.

• Independently administers and evaluates models, model assumptions, and key metrics used for the measurement of actuarial and insurance related risk for adherence to all policies and procedures; documents and reports results of evaluations on an individual and summary basis.

• Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken as necessary.

• Provides advice and guidance to assigned business/group on implementation of the risk framework, including effective challenge.

• Coordinates and participates in the execution of oversight/governance activities including reporting; assessment of education & training needs, development/delivery of training; development and execution of regulatory administration processes & procedures.

• Consults with stakeholders to improve consistency and transparency of risk measurement, metrics and reporting.

• Supports the development and maintenance of the governance system and framework including supporting policy/standard/operating procedures lifecycle management, education and training assessments.

• Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance.

• Builds effective relationships with internal/external stakeholders.

• Analyzes data and information to provide insights and recommendations.

• Monitors and tracks performance; addresses any issues.

• Focus may be on a business/group.

• Thinks creatively and proposes new solutions.

• Exercises judgment to identify, diagnose, and solve problems within given rules.

• Works mostly independently.

• Broader work or accountabilities may be assigned as needed. Qualifications:

• Typically between 1-2 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.

• Knowledge and understanding of insurance risk management and actuarial practices.

• Knowledge of insurance products.

• Knowledge of financial modelling including understanding of statistics, risk or other quantitative metrics

• In-depth knowledge & experience with risk policy frameworks; quality control / testing frameworks.

• Specialized knowledge from education and/or business experience.

• Verbal & written communication skills - In-depth.

• Collaboration & team skills - In-depth.

• Analytical and problem solving skills - In-depth.

• Influence skills - In-depth.