Actuarial Analyst III - Capital

Work Location: Montréal, Quebec, Canada

Hours: 35

Line of Business: Data & Analytics

Pay Details: 100 000 $/$100,000 - 130 000 $/$130,000 CAD

TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs.

As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Job Description:

Department Overview

Ground-breaking projects and careers in TD Actuary

It takes an astute combination of analytical skills, business knowledge and an understanding of human behavior to navigate today's complex risk factors in business – and banking. This is the special expertise of the Actuary professional community at TD.

Actuary roles help us strategically plan our future business success and increasingly, to fulfil specialized functions in areas such as pricing, underwriting, insurance, reinsurance and of course, risk management. We value and customers benefit from the tremendous actuarial talent at the Bank and craft these roles with opportunities for personal and professional growth.

Job Description

Reporting to the Manager, Capital, the main responsibilities of the Actuarial Analyst III are:

Economic Capital ("ECAP") Modelling

• Maintain, develop, and implement the internal model for calibrating economic capital requirements for the TD Insurance General Insurance ("TDI-GI") legal entities.

• Ensuring regulatory compliance with OSFI's Guideline E-19: Own Risk and Solvency Assessment("ORSA").

• Support TD Reinsurance Barbados ("TDRB") economic capital modelling.

Financial Condition Testing ("FCT")

• Maintain, develop, and implement TDI-GI FCT model with justification of the base scenario, identification of risks/threats, calibration of adverse scenarios, etc.

• Ensure compliance with Canadian ASOP and OSFI's Annual Memorandum to the Appointed Actuary.

Other Stress Tests

• Support the execution of TDBG stress testing program: Enterprise-Wide Stress Testing ("EWST") and Macro Stress Testing ("MST") by testing the capital/profit impact on TDI-GI under determined stressed scenarios.

• Ensure compliance with OSFI Guideline E-18.

Internal Target

• Provide recommendations on the internal target capital ratios for the TDI-GI legal entities based on the ECAP, FCT, and other stress testing analysis.

• Ensure regulatory compliance with OSFI's Guideline A-4.

Reporting

• Prepare and maintain results presentation decks and provide solid support and explanation of results.

• Prepare, validate and on-time delivery of FCT reports.

• Support and guarantee the on-time delivery of FCT external peer review reports.

• Review and validate ORSA report.

• Ensure compliance with OSFI's Guideline E-15.

Governance/Miscellaneous

• Ensure an adequate level of governance, peer review, and challenge of the modelling process:

  • Challenge from senior executives, working groups, TDI risk committee and risk capital committee on model results and key assumptions.
  • Review and challenge from external peer reviewer.
  • Review and challenge from TDBG Model Validation and Model Risk Management.
  • Challenge from TDI Risk Management and TDI Audit functions.

• Lead the implementation of best practices, risk mitigation, risk controls as well as processes, policies, and procedures for the group, as well as other miscellaneous activities.

Job Requirements

Analytical/technical Skills:

• Stands out for his/her judgment and analytical mind.

• Has strong problem-solving skills.

• Skilled at anticipating the results of an analysis or a report.

• Recognized for his/her thoroughness and the quality of his/her work.

• Shows initiative, creativity and critical thinking in his/her work.

• Has work experience with MS Excel (VBA), programming languages (eg. R/Python)

• Capital modelling experience is an asset.

• Knowledge of IFRS17 is an asset.

• Ability to make good decisions quickly when the situation so requires.

Soft Skills:

• Ability to communicate effectively in English, both verbally and in writing.

• Highly adaptable for having discussions with different stakeholders in terms of expertise, training and hierarchical position.

• Ability to work effectively during periods of stress.

• Ability to collaborate and build positive relationships with business partners.

• Autonomous and perseverant.

Professional Requirements:

• Bachelor's degree in Actuarial science, or other quantitative area of study.

• Acquired or working towards Associateship with the Casualty Actuarial Society, or Fellowship with Canadian Institute of Actuaries or equivalent.

• 5 years of Property & Casualty actuarial experience is an asset.

• This role is flexible and could potentially be adaptable to a junior or senior analyst role according to the applications received.

Who We Are: As part of TD Bank Group, one of Canada's largest financial institutions, at TD Insurance, we care for Canadian families, making it easy to get the best advice, protection, and support in their moments of need, always.

TD Insurance offers a wide range of products, including General Insurance and Life and Health. Everyday, we strive to make every interaction, product and experience remarkably human and refreshingly simple for more than four million customers who count on us.

Our Total Rewards Package Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical, and mental well-being goals. Total Rewards at TD includes a base salary, variable compensation, and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off, banking benefits and discounts, career development, and reward and recognition programs. Learn more

Additional Information: We’re delighted that you’re considering building a career with TD. Through regular development conversations, training programs, and a competitive benefits plan, we’re committed to providing the support our colleagues need to thrive both at work and at home.

Please be advised that this job opportunity is subject to provincial regulation for employment purposes. It is imperative to acknowledge that each province or territory within the jurisdiction of Canada may have its own set of regulations, requirements.

Colleague Development If you’re interested in a specific career path or are looking to build certain skills, we want to help you succeed. You’ll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities.

If you’re passionate about helping clients and building deep, lasting relationships, TD offers diverse career paths where you can grow your expertise and make a meaningful impact.

We're committed to your success and foster a respectful workplace where diverse perspectives are valued, everyone has fair opportunities to grow, and you can unlock your full potential to achieve your career goals. Here at TD, we hire and develop the best.

Training & Onboarding We will provide training and onboarding sessions to ensure that you’ve got everything you need to succeed in your new role.

Interview Process We’ll reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.

Accommodation Your accessibility is important to us. Please let us know if you’d like accommodations (including accessible meeting rooms, captioning for virtual interviews, etc.) to help us remove barriers so that you can participate throughout the interview process.

We look forward to hearing from you!

Language Requirement (Quebec only): Maîtrise d’une langue autre que le français pour offrir du soutien ou traiter avec des employés ou des collègues qui ont besoin de services et de soutien dans une langue autre que le français.