Actuarial Consultant

Job Description

This role requires the successful applicant to commit to an in-office work arrangement up to 5 days a week beginning in 2027.

Salary Grade: N09 From: $116.000.00 To: $145,000.00

Shape the Future of Workplace Insurance in Ontario

At WSIB, actuarial work goes far beyond traditional insurance valuation. Our team plays a critical role in ensuring the long-term financial sustainability of Ontario's workplace insurance system while helping support over five million workers and hundreds of thousands of employers across the province.

As an Actuarial Consultant, you'll work on complex, meaningful projects that directly influence funding strategies, premium rate setting, benefit liability valuations, forecasting, legislative costing, and financial decision-making at an enterprise level. As a member of the Actuarial leadership team, you'll collaborate with senior leaders including Directors and Chief Actuary, business partners, government stakeholders, auditors, and fellow actuarial professionals to deliver insights that help guide the future of workers' compensation in Ontario.

Why Join WSIB's Actuarial Team?

Our actuarial team offers a unique opportunity to work on highly specialized casualty and social insurance challenges that are rarely found elsewhere. We are deeply committed to supporting professional growth and development. Whether you're continuing your actuarial journey or looking to expand your leadership capabilities, you'll have opportunities to work alongside experienced actuarial professionals, lead complex projects, build expertise in workers' compensation insurance, and contribute to innovative actuarial solutions that have real public impact.

What You'll Be Doing

Actuarial Leadership & Technical Expertise

Lead or contribute to the review and delivery of complex actuarial work while ensuring accuracy, quality, and timely execution of key initiatives.

• Provide guidance on actuarial methods, models, assumptions, and analytical approaches.
• Review and validate actuarial calculations, model outputs, and project deliverables for accuracy and reasonableness.
• Ensure project milestones and timelines are achieved.
• Lead or contribute to:
  • Valuation of benefit liabilities (Schedule 1 and Schedule 2).
  • Schedule 1 premium rate setting and Schedule 2 administration rate setting.
  • Funding and financial forecasting initiatives.
  • Development and enhancement of actuarial methodologies and models.
• Prepare reports, recommendations, and actuarial analyses for the Directors & Chief Actuary and actuarial senior leadership.
• Stay current with evolving actuarial standards, industry practices, and WSIB policies.
• Present actuarial findings, estimates, methodologies, and recommendations to internal and external stakeholders.
• Participate in stakeholder meetings, presentations, information sessions, and consultations.

Experience Studies, Costing & Special Projects

Lead or participate in analytical studies and strategic actuarial initiatives that support funding, pricing, valuation, and policy decision-making.

• Design, review, validate, and report on actuarial experience studies used to establish or validate model assumptions.
• Conduct and support studies related to:
  • Mortality
  • Claim termination patterns
  • Occupational disease claims
  • Health care costs
  • Future administration expenses
  • Economic and financial assumptions
• Perform actuarial costing of legislative, policy, and operational changes.
• Support development of presentations and materials for:
  • WSIB Senior Leadership
  • Board of Directors
  • Government stakeholders
  • Employers and external actuarial advisors
• Contribute to special projects involving:
  • Enhancements to actuarial models
  • Earnings by source analysis
  • New funding and pricing methodologies
  • Accounting standard implementation
  • Process modernization initiatives

Project Leadership

Manage projects from planning through execution while coordinating the work of actuarial team members and ensuring high-quality outcomes.

• Develop project plans, schedules, and deliverables.
• Coordinate project activities and assign work across team members.
• Identify resource requirements and support workload planning.
• Monitor progress through regular project updates and status reviews.
• Review team deliverables to ensure technical accuracy and quality standards are met.
• Drive projects to successful completion within established timelines.

Stakeholder Collaboration & Relationship Management

Build strong relationships across the organization and externally to support actuarial initiatives and informed decision-making.

• Partner with leaders and teams across Operations, Strategy, Finance, Technology.
• Collaborate with employers, worker representatives, auditors, actuarial consultants, and other external stakeholders.
• Maintain active involvement in actuarial professional organizations and industry networks.
• Liaise with workers' compensation boards, government agencies, health and safety organizations, and industry groups to stay informed on emerging trends and developments impacting workers' compensation and actuarial practice.

What You'll Bring

Required Qualifications

• University degree in Actuarial Science, Mathematics, Statistics, Finance, Economics, or a related discipline.
• 5+ years of actuarial experience within the insurance industry, workers' compensation, pension, consulting, or a similar environment.
• 2-5 years of experience leading projects, initiatives, or project teams.
• Strong analytical, modeling, forecasting, and problem-solving skills.
• Excellent communication and stakeholder management abilities, including presenting complex actuarial concepts to diverse audiences.

Required Professional Designation

You must hold one of the following actuarial fellowship designations:

• FCIA (Fellow of the Canadian Institute of Actuaries)
• FSA (Fellow of the Society of Actuaries)
• FCAS (Fellow of the Casualty Actuarial Society)

What Makes This Opportunity Different

This is not a typical actuarial role. At WSIB, you'll work on complex social insurance and workers' compensation challenges that combine actuarial science, public purpose, financial sustainability, and real-world impact. The recommendations and analyses you provide help shape funding decisions, premium rates, benefit liabilities, and long-term financial strategy for one of Ontario's largest insurance systems. If you're looking for an opportunity to apply your actuarial expertise to meaningful work, lead high-profile projects, influence strategic decisions, and continue growing as a respected actuarial professional, we'd love to hear from you.