Overview:

Reporting to the Director, Pricing & Actuarial Forecasting; the Manager, SRE Pricing & Pricing Transformation leads the transformation of corporation’s pricing function by adopting modern actuarial pricing techniques and supporting corporate transformation projects such as system implementations. Transformation responsibilities extend to other analyses performed including portfolio monitoring, product design/innovation, system implementations, premium dislocation, premium forecasting, loss ratio monitoring etc.

The Manager is also responsible for the development and enhancement of ratemaking for Special Risk Extension (SRE) line of business. This includes forecasting exposures and premiums for this line of business.

The Manager brings innovation and automation into the pricing department’s regular activities over time, setting out a roadmap of the transformation journey, and providing operational leadership to the actuarial staff.

This role provides key information for the General Rate Application (GRA) and acts as a liaison for regulators and interveners.

Responsibilities:

Pricing Transformation

• Create, implement, and transition pricing transformational projects over to Pricing Operations for Basic and Extension products. Example of such initiatives are listed below but is not complete or exhaustive as transformation continuously evolves:
  • Actuarial software set up and implementation of Generalized Linear modelling for all lines of businesses.
  • Enhances the current rate modelling process and methodology by introducing modern actuarial techniques using modern actuarial/statistical tool to improve the efficiency of the rate modelling process leading to reduced turnaround times.
  • Build automated dashboards to inform management decision-making.
  • Build models that will provide information on the effect of rate changes on the current and the forecasted premium.
  • New products pricing and implementation plan.
• Collaborate with Pricing Operations to identify areas of improvement in the current ratemaking process and methodology for new pricing transformation projects.
• Collaborate with Product Development on changes to products or new products.
• Ensure transformation projects have adequate risk controls, documentation, required data conforms with the standards of practice of the Canadian Institute of Actuaries (CIA)
• Responsible for completing board and cabinet submissions, reports and presentations to Executive Committee or the Board, and preparing internal and external audit reviews and responses, as required.

SRE Ratemaking and Forecasting

• The Manager is responsible for leading ratemaking and pricing planning for SRE line of business. This includes the following
• • Lead the development and maintenance of SRE ratemaking methodologies and pricing models using Actuarially Accepted Practices (AAP) in Canada.
  • Provide exposure and premium forecasting in consultation with the SRE Underwriting team.
  • Regularly provide and maintain insights on exposure and premium variance in collaboration with the SRE underwriting team.

Corporate Analytical Support

• Provide support to other teams for products (re)design, implementation of systems, enhancement of business processes and other strategic initiatives.
• Primary pricing liaison for the implementation of a new corporate policy system and data platform.
• Lead or work on research teams on various issues, problems, and opportunities.

Qualifications:

Education:

• University degree in Mathematics, Statistics or Actuarial Science.
• Associate of the Canadian Institute of Actuaries & Associate of the Casualty Actuarial Society with a commitment to pursue the Fellowship level of the Canadian Institute of Actuaries.
• Preference will be given to Fellow of the Canadian Institute of Actuaries & Fellow of the Casualty Actuarial Society.

Experience:

• Eight years of progressive experience in the casualty insurance industry, including five years in ratemaking.

Technical Knowledge and Skills:

• In-depth knowledge of actuarial principles and associated tools and methodology.
• Proven capabilities in research, analysis, and a demonstrated ability to interpret and synthesize complex data.
• Proven capabilities in organizational skills to plan and manage multiple complex projects and tasks simultaneously.
• Strong broad-based analytical skills.
• Superior oral and written communication skills, with demonstrated ability to clearly convey complex information in a concise and straightforward manner.

Employee Benefits:

Health benefits

We offer a comprehensive health benefits program that includes:

• flexible health, dental and vision plans
• health spending account
• travel health coverage
• other extended health benefits such as ambulance, massage and physiotherapy

Financial security

In an effort to support financial security, we offer:

• registered pension plan
• group, dependent, and optional life insurance coverage
• sick leave to cover short-term disability
• long-term disability

Wellness

We offer programs that focus on how to better achieve a balance between work and personal commitments, as well as maintain a healthy workplace culture. This includes:

• vacation entitlement
• maternity, parental and adoptive leaves
• bereavement and family responsibility leaves
• employee and family assistance program
• mental-health programming
• onsite employee gym facility (Cityplace)
• discounted gym memberships
• wellness account

Diversity and inclusion

Manitoba Public Insurance believes that diversity and inclusion strengthens us. We consider ourselves to be a barrier-free organization where individual values, beliefs and practices are respected and appreciated for the diversity they bring to our work life.

Employee recognition

It’s important to recognize our employees for their contributions. Not only do we recognize employees as they achieve milestone years in their careers, we also have several outlets for leaders and peers to reward each other for work well done.

Professional development

We want our employees to grow, which is why we offer support in keeping their skills up to date. We offer in-house training, professional development and an educational assistance program.

Safety and health

In an effort to encourage a safe and healthy work environment, we offer various safety, health and workplace policies and programs along with technical expertise and assistance to support employee activities in safety and health.