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Manager of Capital Modelling at TD Insurance, leading a team of actuarial analysts in Montréal.
Experience in economic capital, FCT, stress testing, and OSFI compliance required. Competitive salary $140–165k CAD.
Job Description
TD Insurance is part of TD Bank Group, one of Canada’s largest financial institutions. TD Insurance helps protect clients from the ‘accidents of life’ with a wide range of products including credit protection, life, health, travel, home and auto insurance. With more than three million clients, TD Insurance authorized products and services are available online, over the phone, and through a network of more than 1,000 TD Canada Trust branches.
In Canada, we have two lines of business, General Insurance and Life and Health. Our General Insurance business is one of the top home and auto insurance groups in Canada and the national leader in group insurance and affinity marketing. Our Life and Health business is the number one provider of critical illness insurance and direct life and health insurance in Canada.
At TD Insurance, we are committed to fostering an inclusive, accessible environment. With a Canada-wide workforce of over 4,000 employees and offices in Atlantic Canada, Quebec, Ontario and Alberta, our company is always growing and can help you to grow. TD Insurance offers a stable and dynamic work environment where talent is appreciated and professional development is taken seriously. More than just a job, we offer rewarding careers.
Reporting to the AVP, Capital and Financial Forecasting
The manager will be responsible for :
- 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 and management actions, calibration of adverse scenarios, etc.
- Ensure compliance with the Standards of Practice of the Canadian Institute of Actuaries 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.
- Support OSFI's Standardized Stress Testing ("SST") when required.
- 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 on results justification and explanation.
- 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 and Process Optimization – Ensure an adequate level of governance, peer review, and challenge of the modelling process.
- Review, challenge and implement recommendations of business partners (senior executives, risk and model validation partners, working groups, audit, and external peer reviewer).
- Lead the implementation of best practices, risk mitigation, risk controls as well as processes, policies and procedures for the group.
- Leadership and People Management – Lead a team of four actuarial analysts.
- Develop talent and manage performance reviews of team members.
- Act as a coach and mentor for team members.
- Provide team members with development opportunities within and outside the business unit.
- Support recruiting strategy to hire best potential.
- Participate actively as a leader to TD activities, notably in TDI Corporate Actuarial and Risk Management teams.
- Respect TD Framework and Shared Commitments.
Professional Requirements
Bachelor degree in Actuarial science, or other quantitative area of study.
Acquired or working towards Fellowship with the Casualty Actuarial Society, Canadian Institute of Actuaries or equivalent.
Minimum of 7 years of Property & Casualty ("P&C") actuarial experience including relevant people management experience.
Analytical/Technical Skills
- Capital modelling and/or P&C reserving experience are strong assets.
- Stands out for his judgment and analytical mind.
- Has strong problem-solving skills.
- Skilled at anticipating the results of an analysis or a report.
- Recognized for his thoroughness and the quality of his work.
- Shows initiative, creativity and critical thinking in his work.
- Has work experience with MS Excel(VBA) and other programming languages (eg. R/SAS/Python).
- Ability to make good decisions quickly when the situation so requires.
Soft Skills
- Ability to communicate effectively in English, both verbally and in writing. French is an asset.
- 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 team members and business partners.
- Autonomous and perseverant.
- Fosters team spirit and loyalty to the company.
- Motivated by people management and talent development.
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.
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.
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.