Appointed Actuary

What is the opportunity? The Appointed Actuary of Royal Bank of Canada Insurance Company Ltd (RBCICL) will be responsible for the support and enabled success of the International Insurance Business through the timely, sound, reliable, appropriate and transparent valuation of the liabilities under Canadian and IFRS 17 standards of practice; the identification, measurement, reporting and mitigation of significant risk events for risk appetite and management; and the collaboration with other business management in achieving company goals and providing actuarial services and support as required. This position also serves as an advisor to senior management with valuation and reporting responsibilities for the longevity reinsurance, life retrocession, creditor reinsurance and other product lines. The role is a good fit for a senior actuary who has a keen interest and drive to move to support the growth and profitability of RBCICL. This position is located in Grand Cayman. What will you do?

• RBCICL is a reinsurance company that is focused on delivering reinsurance solutions for clients located around the world.
• Accountable for liability and financial reporting with work to be performed per actuarial standards of practice and regulatory requirements.
• Strategic management of risks to protect RBCICL from unacceptable losses or undesirable outcomes with respect to earnings volatility, capital adequacy or liquidity, while supporting and enabling its business strategy.
• Financial management through actuarial portfolio performance reviews, analysis of earnings and input into business plans and forecasts.
• Support regulatory changes, for example AM Best/S&P capital requirements and IFRS 17.
• Develop and mentor staff in several locations.

What do you need to succeed? Must Have

• Fellow of the Canadian Institute of Actuaries and Society of Actuaries
• At least 10 years of Canadian actuarial experience in valuation and financial reporting
• At least 20 years of experience within the life insurance industry
• Experience in longevity reinsurance is essential. Life retrocession and creditor reinsurance product lines is an asset.
• Leadership skills to engage team and communication skills to drive action
• Strong analytical and technical skills to build the foundation for carrying out accountabilities
• Knowledge of life insurance standards of practice, reserving principles, insurance accounting, product design and administration, pricing framework, capital regime, and regulatory compliance guidelines and IFRS 17.
• Ability to juggle multiple priorities, deal with ambiguity and work under pressure

What's in it for you? We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• Opportunity to lead in a dynamically changing environment
• Opportunity to do challenging work and make a difference with lasting impact
• The advantage of working with a dynamic, collaborative, and high performing team where initiative and hard work are recognized and rewarded