Actuarial Advisor

Actuarial Advisor

Type : Permanent

Location : Toronto

Posting Date : May 15, 2024

At OPTrust, is our mission and business.

When you choose OPTrust, you join a team of smart, talented people who fuel our success and have a passion for pensions. Everyone at OPTrust from London, Toronto, and Sydney makes a meaningful impact, our environment is fast paced, but we find time to have fun and give back to the community as well.

Our strength resides in our team members with different backgrounds and perspectives creating an inclusive and fulfilling place to work for everyone.

What OPTrust Offers You

Unique culture rooted in our core values collaboration and teamwork, integrity, respect, flexibility, and excellence and continuous improvement reflected across the team.

Dedicated business strategy for inclusion, diversity and equity with multiple, meaningful opportunities to participate.

Flexible, hybrid work model being implemented to balance the benefits of working from home and the collaborative teamwork experience in the office.

Membership in our world-class defined benefit pension plan.

A purpose-driven environment, including the opportunity to contribute to OPTrust’s climate change and responsible investing programs.

Professional development opportunities and learning initiatives including access to LinkedIn Learning, in-house speaker series, tuition reimbursement program and professional association memberships.

Comprehensive benefits package focused on your health and wellness, including dental, vision and extended health benefits.

Opportunity to take parental and adoptions leaves to spend time with family.

Competitive vacation package and time away from work such as work-life balance days.

If you strive for excellence and continuous improvement, value a collaborative and flexible team culture, and approach everything with integrity and respect, then we invite you to apply to join our team!

About the Role

About the Role

In this role, you will be working in the PATH program team. You will work collaboratively with the actuarial team to provide actuarial and technical data guidance and support to Actuarial Services and Plan Policy group, along with Member Experience and Pension Operations and other internal teams.

• You will have shared accountability to maintain data management business processes as they pertain to the actuarial valuation extract and pension administration processes;
• review and contribute to the preparation of system business requirements and system testing; work with actuarial team on internal actuarial valuations, gain / loss analysis forecasting and experience studies;
• provide technical support for the actuarial valuation extract process; carry out and verify pension administration calculations;

provide actuarial expertise for routine projects; and respond to any ad hoc requests on actuarial matters as required.

What You’ll Do

Actuarial Valuations

Complete internal funding, solvency, windup and accounting valuations for the OPSEU Pension Plan with guidance.

Assist in funding and accounting valuations for the Supplemental Pension Plan.

Assist with gain and loss analysis on all funding valuations with guidance as needed.

Experience Studies

Collaborate with immediate manager and other team members on various experience study projects and contribute to the drafting and presentation of findings to management.

Forecasting

Collaborate with immediate manager and team members on various deterministic and stochastic actuarial forecasting projects and contribute to the drafting and presentation of findings to management.

Forecasting

Collaborate with immediate manager and team members on various deterministic and stochastic actuarial forecasting projects and contribute to the drafting and presentation of findings to management

Costing

Assist with costing analysis for internal and external stakeholders for routine valuation assumption changes or routine ad-hoc costings for applicable contract negotiations.

Administrative Calculations

Create and maintain independent calculators or spreadsheets to assist and / or expedite the administration process for Member Experience and Pension Operations, including a final review of calculations required under various transfer agreements and other needs.

Provide final review of actuarial calculations and buyback costings to members as appropriate.

Provide final review and calculations of commuted values and pension entitlements for terminations, transfers, deaths, unique / complicated cases and marriage breakdown as appropriate.

Pension Administration System Development of Actuarial Additions / Changes

Engage with project managers to develop routine business requirements, data analysis and system specifications.

Assist with training to staff regarding applicable system changes related to calculations in the Pension Administration System engine.

Provide technical review and analysis on data and administration system related issues.

Actuarial Valuation Project

Provide strong support for OPTrust’s actuarial valuation process, including the technical development of the actuarial valuation extract application, testing criteria, system implementation, data delivery, guidance to data analysts and liaison with developers and Plan actuaries as follows :

Review actuarial system / data and provide recommended changes to the extract application.

Support the development of actuarial data requirements in conjunction with the Plan actuaries.

Engage in discussions on actuarial matters as they relate to member data.

Support the analysis and cleanup of member data.

Assist with the development and presentation of actuarial data and findings to OPTrust employees and management.

Supports ad-hoc and interim valuation requirements with guidance.

Provide follow-up data analysis, review, and support for Plan actuaries.

Assist with the review and provide input on the recommendations for system and procedural changes as they pertain to the actuarial valuation and annual information processes.

Special Projects

Represents Actuarial Services and Plan Policy in special project work related to the design, testing and implementation of new systems based on complexity and with guidance as required.

Examples of key tasks include :

Provide strong support under the guidance of immediate manager and assistance of senior team members in order to ensure key development and implementation deliverables are allocated and met.

Assist with analysis from an actuarial perspective on project related inquiries.

Collaborate and contribute to analyzing of business requirements for new application development and design.

Participate in system design walkthroughs and evaluations.

Support the development of user acceptance test plans including test strategy, criteria and data identification, resources, and time estimates;

implementing and controlling user acceptance test projects, identifying issues with other departments as needed.

Assist in development of research plans for new application development.

Assist with training on projects to actuarial analysts and others as required.

Provide other ad hoc technical review and analysis on issues for external projects as needed.

Performs other duties as assigned

What You Bring

Associate of the Society of Actuaries (ASA) designation or equivalent experience.

5+ years of applied knowledge of actuarial mathematics, processes, practices, and technical requirements gained through post-secondary education and work experience.

Experience with research and analytical, written communication and report writing, and verbal communication skills is required.

Interpersonal skills, tact and discretion, and strong client service orientation to deal effectively with a range of stakeholders (i.

e., OPTrust senior leadership and employees, Plan sponsors and external service providers).

Experience in pension management / administration field and knowledge of legislation, including the Pension Benefits Act, and the Income Tax Act.

Effective time management, organizational skills, strong attention to detail, and ability to establish priorities and meet deadlines in a time sensitive environment.

Ability to work with minimal direct supervision and to conceptualize and think creatively, critical thinking ability.

Proficient with Microsoft Office Suite of products, including strong Excel skills.

Experience with ProVal is an asset.

Exemplify OPTrust’s values : collaboration and teamwork, integrity, respect, flexibility, excellence, and continuous improvement.

Please submit your application via Workday by May 29, 2024.

We thank all interested applicants, however only those under consideration will be contacted.