Director & Actuary, Reinsurance Solutions
Top Benefits
About the role
Application Deadline: 11/02/2025
Address: 250 Yonge Street
Job Family Group: Customer Solutions
Reporting to the AVP & Actuary – Reinsurance & Analytics, the Director & Actuary, Reinsurance Solutions is accountable for managing all Reinsurance relations and Reinsurance related initiatives, which includes leading all Reinsurance RFPs (Request for Proposals), negotiating pricing and parameters with reinsurers to help drive profitable growth for BMOLA and execution of reinsurance treaties. In addition, the incumbent will support the AVP & Actuary – Reinsurance & Analytics with all key initiatives related to Reinsurance. This role is responsible for ensuring the successful design, development, implementation and execution of various initiatives; these projects range from New Business Planning, an overhaul of our mortality slippage analysis, developing a medical expense study and other projects ranging in size and scope.
Core Responsibilities:
- Support strategic reinsurance initiatives to drive profitable outcomes. Manage the design, development, implementation, reporting and change management of the initiatives. Review, analyze and present conclusions, recommendations and findings to Senior Management.
- Assess mortality slippage on our Accelerated Underwriting program on a regular basis, including advisor monitoring, and overhaul our existing processes. Collaborate with underwriters regularly to monitor our Accelerated Underwriting program. Understand our predictive models and assess its impacts to mortality slippage. Provide valuable feedback and guidance on any new predictive models.
- Manage end to end process of all reinsurance RFPs, including proposing reinsurance structure and framework while providing supporting analysis, communicating effectively with all reinsurers, ensuring appropriate understanding of BMOLA’s business and providing subject matter expertise on BMOLA products, business rules, experience data, distribution, illustrations and other information pertinent to a reinsurance transaction.
- Establish strong relationships with Reinsurers and be the primary contact for all Pricing and Treaty queries.
- Conduct various experience studies, including an expense study and a medical expense study.
- Conduct reinsurance negotiations to support overall business operations and to drive profitable business growth including execution of treaties.
- Support all Risk Committee and Board reporting relating to Reinsurance.
- Manage all reinsurance treaty and amendment negotiations with support from internal stakeholders.
- Leveraging data and analytics to deepen knowledge and optimize business decisions.
Qualifications:
- University degree in actuarial science.
- FSA/FCIA designation with applied actuarial skills in insurance and reinsurance.
- A minimum of 5 years of relevant experience in an individual life pricing or reinsurance role.
- Experience with analyzing and managing large volumes of data with Power BI and/or Python.
- Previous experience in pricing individual life products is preferred.
- In-depth knowledge of insurance products and channels, and regulatory requirements.
- Strong verbal and written communication skills.
- Strong attention to detail.
- Solid organizational and project management skills.
- Knowledge of Reinsurance.
About Desjardins
Desjardins Group is the largest cooperative financial group in North America and the fifth largest cooperative financial group in the world, with assets of $435.8 billion as at March 31, 2024. It was named one of Canada's Best Employers by Forbes magazine and by Mediacorp. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. Ranked among the world's strongest banks according to The Banker magazine, Desjardins has some of the highest capital ratios and credit ratings in the industry and the first according to Bloomberg News.
Director & Actuary, Reinsurance Solutions
Top Benefits
About the role
Application Deadline: 11/02/2025
Address: 250 Yonge Street
Job Family Group: Customer Solutions
Reporting to the AVP & Actuary – Reinsurance & Analytics, the Director & Actuary, Reinsurance Solutions is accountable for managing all Reinsurance relations and Reinsurance related initiatives, which includes leading all Reinsurance RFPs (Request for Proposals), negotiating pricing and parameters with reinsurers to help drive profitable growth for BMOLA and execution of reinsurance treaties. In addition, the incumbent will support the AVP & Actuary – Reinsurance & Analytics with all key initiatives related to Reinsurance. This role is responsible for ensuring the successful design, development, implementation and execution of various initiatives; these projects range from New Business Planning, an overhaul of our mortality slippage analysis, developing a medical expense study and other projects ranging in size and scope.
Core Responsibilities:
- Support strategic reinsurance initiatives to drive profitable outcomes. Manage the design, development, implementation, reporting and change management of the initiatives. Review, analyze and present conclusions, recommendations and findings to Senior Management.
- Assess mortality slippage on our Accelerated Underwriting program on a regular basis, including advisor monitoring, and overhaul our existing processes. Collaborate with underwriters regularly to monitor our Accelerated Underwriting program. Understand our predictive models and assess its impacts to mortality slippage. Provide valuable feedback and guidance on any new predictive models.
- Manage end to end process of all reinsurance RFPs, including proposing reinsurance structure and framework while providing supporting analysis, communicating effectively with all reinsurers, ensuring appropriate understanding of BMOLA’s business and providing subject matter expertise on BMOLA products, business rules, experience data, distribution, illustrations and other information pertinent to a reinsurance transaction.
- Establish strong relationships with Reinsurers and be the primary contact for all Pricing and Treaty queries.
- Conduct various experience studies, including an expense study and a medical expense study.
- Conduct reinsurance negotiations to support overall business operations and to drive profitable business growth including execution of treaties.
- Support all Risk Committee and Board reporting relating to Reinsurance.
- Manage all reinsurance treaty and amendment negotiations with support from internal stakeholders.
- Leveraging data and analytics to deepen knowledge and optimize business decisions.
Qualifications:
- University degree in actuarial science.
- FSA/FCIA designation with applied actuarial skills in insurance and reinsurance.
- A minimum of 5 years of relevant experience in an individual life pricing or reinsurance role.
- Experience with analyzing and managing large volumes of data with Power BI and/or Python.
- Previous experience in pricing individual life products is preferred.
- In-depth knowledge of insurance products and channels, and regulatory requirements.
- Strong verbal and written communication skills.
- Strong attention to detail.
- Solid organizational and project management skills.
- Knowledge of Reinsurance.
About Desjardins
Desjardins Group is the largest cooperative financial group in North America and the fifth largest cooperative financial group in the world, with assets of $435.8 billion as at March 31, 2024. It was named one of Canada's Best Employers by Forbes magazine and by Mediacorp. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. Ranked among the world's strongest banks according to The Banker magazine, Desjardins has some of the highest capital ratios and credit ratings in the industry and the first according to Bloomberg News.