Manager, Pension Risk Transfer (PRT) Modelling & Analytics

Address:

#bmoinsurance

The role sits within the Institutional Solutions Pricing team at BMO Insurance. The team’s primary objective is to provide financial security for pensioners by helping Canadian organizations de-risk their balance sheets through Pension Risk Transfer (PRT) transactions. The team combines actuarial expertise, financial analysis, modelling and strategic thinking to evaluate and price complex transactions. Team members have the opportunity to influence key business decisions, develop sophisticated analytical capabilities, collaborate with partners across the organization, and contribute to the continued growth of a market-leading business.

Key responsibilities are leading actuarial modelling and analytics, supporting PRT pricing, and contributing to strategic initiatives and ad-hoc projects.

This includes:

• Take ownership of actuarial models and analytical processes, coordinating development, implementation, testing and ongoing enhancements.
• Develop and enhance pricing and projection models used to evaluate Pension Risk Transfer opportunities.
• Analyze pension plan data, demographic characteristics and experience data to develop modelling insights and actuarial assumptions.
• Lead mortality experience studies and other analyses to develop and evaluate transaction-specific assumptions.
• Perform financial and actuarial modelling to evaluate profitability, capital requirements, risk and other key transaction metrics.
• Develop sensitivity and scenario analysis to assess transaction risks and explain key drivers of financial outcomes.
• Translate complex modelling results into actionable insights and recommendations for senior stakeholders and transaction approval committees.
• Lead enhancements to pricing methodologies, modelling frameworks, analytical tools and model governance.
• Partner with teams across actuarial, investments, finance, operations, legal and risk management to ensure models appropriately reflect business requirements.
• Participate in strategic initiatives, process improvements, automation and development of new analytical capabilities.

(Note: desirable qualifications and skills are listed below. A candidate does not need to meet all criteria to be considered.)

• Minimum 5 years of actuarial experience, preferably in life insurance, pension consulting or reinsurance.
• Fellow level designation from the CIA, SOA, or equivalent.
• Strong understanding of actuarial modelling, pricing, valuation and financial projection techniques.
• Working knowledge of defined benefit pension plans, pension administration and annuities.
• Ability to lead complex analytical work and communicate modelling results to both technical and non-technical audiences.
• Advanced proficiency in Excel and experience developing or maintaining complex actuarial models.
• Strong analytical, problem solving and model development skills.
• Strong verbal and written communication skills.
• Strong collaboration skills and the ability to lead work across multiple stakeholders.
• Demonstrated interest in automation, scalable modelling solutions and continuous improvement.
• Experience with actuarial programming, modelling and data analytics tools (e.g. SQL, R, Python, Power BI) is considered an asset.
• Fluency in French is considered an asset.

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: