Application Deadline: 07/06/2026 Address: 250 Yonge Street Job Family Group: Customer Solutions The Director, Actuarial Modelling leads the actuarial modelling function for BMO Insurance, providing expertise and advisory support for the development, maintenance, governance, and validation of actuarial models supporting valuation, financial reporting, capital management, regulatory reporting, and strategic decision-making. This role manages a team of actuarial modelling professionals and leads initiatives related to new products, model enhancements, and actuarial methodology and assumption updates. Working closely with internal and external stakeholders, the Director ensures effective governance and controls, advances modelling capabilities, and delivers insights that support the financial strength and strategic objectives of the insurance business. Manages team of actuarial modellers. Ensures team is appropriately staffed and experienced, and built-for-purpose. Creates framework to support controls, governance, and separation of duties. Builds and maintains open lines of communication to key constituents including Valuation & Financial Reporting, Pricing, Capital & Inforce Management, Model Risk Management, Reinsurance, External Auditors, Internal Auditors, External Model Validators (Valani), Enterprise Model Risk, etc. Directs and executes all modelling initiatives related to new model builds, new products, model enhancements, actuarial assumption & methodology updates, etc. and ensures timely delivery. Builds and maintains independent spreadsheet validation tools to assist actuarial staff in understanding the underlying first principles cash flows and business dynamics. Researches and implements improvements driven by emerging technology and AI. Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do. Ensures alignment between values and behaviour that fosters diversity and inclusion. Regularly connects work to BMO's purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through. Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders. Attracts, retains, and enables the career development of top talent. Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance. Provides strategic input into business decisions as a trusted advisor. Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the business/group. Acts as a subject matter expert on relevant regulations and policies. May network with industry contacts to gain competitive insights and best practices. Recommends the metrics for measurement, timetable and reports necessary for senior leaders to evaluate the safety and soundness of the insurance business. Develops the business case by identifying needs, analyzing potential options, and assessing expected return on investment. Recommends business priorities, advises on resource requirements, and develops roadmap for strategic execution. Conducts independent analysis and assessment to resolve strategic issues. Acts as the prime subject matter expert for internal/external stakeholders. Defines business requirements for analytics & reporting to ensure data insights inform business decision making. Breaks down strategic problems, and analyses data and information to provide insights and recommendations. Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution. Acts as the day-to-day contact for vendors; supports the implementation, maintenance, and sustainment of vendor solutions. Oversees the design, development, and implementation of tools and training required to deliver business results. Focuses on more complex product insurance products, (e.g., Universal Life). Identifies business needs, designs/develops tools, and training programs; may include delivery of training to audiences. Assists with the calculations required by the Appointed Actuary. Checks and reviews various outputs from models used as the basis for the Appointed Actuary’s opinion. Opinions are required for the value of actuarial liabilities held on the Balance Sheet, annual opinion on the ongoing solvency of BMO Insurance (DCAT Reports), and quarterly regulatory capital calculations. All opinions are under detailed scrutiny by OSFI, BMO Insurance Boards of Directors, internal and external auditors. Reviews and analyzes actuarial modelling issues for presentation to the Appointed Actuary for signoff. Serves as a specialist resource to senior leaders and stakeholders. Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine. Implements changes in response to shifting trends. Broader work or accountabilities may be assigned as needed. Qualifications: Typically, 7+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience. FSA/FCIA designation. Minimum of 8+ years’ experience. Expert understanding of Actuarial Modelling. Expert product knowledge of Traditional, Term, and Universal Life products. Strong knowledge of various systems (AXIS, Excel, Access). Seasoned professional with a combination of education, experience, and industry knowledge. Verbal & written communication skills - In-depth / Expert. Analytical and problem-solving skills - In-depth / Expert. Influence skills - In-depth / Expert. Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert. Able to manage ambiguity. Data driven decision making - In-depth / Expert. Salary: $94,600.00 - $176,000.00 Pay Type: 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. BMO is a leading bank driven by a single purpose: to Boldly Grow the Good in business and life. Everywhere we do business, we’re focused on building, investing and transforming how we work to drive performance and continue growing the good. Who we are We’re proud to be fueling growth and expanding possibilities for individuals, families and businesses. More than 12 million customers count on us for personal and commercial banking, wealth management and investment services. As the 8th largest bank in North America by assets, we provide personal and commercial banking, wealth management and investment services to more than 12 million customers. In Canada, the United States and across the globe, we’ll continue to build, invest and transform to drive performance that serves the good that grows.