Actuarial Analyst

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At ICBC, we strive to build diverse teams which reflect the communities we serve. To support this, we’ve created two talent communities for Indigenous Peoples and People with Disabilities.  By joining one of these communities, you’ll connect with our recruitment team who will guide you through the application process and help you explore opportunities at ICBC. Of course, you’re welcome to apply for jobs at ICBC whether or not you join a talent community.

We look forward to hearing from you!

ICBC is one of BC’s largest corporations and one of Canada’s largest property and casualty (P&C) insurers with annual earned premiums of $4.9 billion and $23.7 billion in assets.

ICBC’s actuaries primarily work in two areas: Insurance Pricing and Corporate Actuarial.  Insurance Pricing has responsibility for overall rate recommendations for both Basic and Optional Insurance products, rate design, program evaluation, and other insurance modeling projects.  Corporate Actuarial has responsibility for the estimation of ICBC’s IBNR reserves, analyzing claims data and other relevant factors to identify future claims trends, financial reporting (discounting of unpaid claims, ULAE reserve), and capital adequacy testing to determine ICBC’s internal capital management MCT targets.

We currently have an opportunity for an Actuarial Analyst to join our Pricing team.

Key accountabilities include:

• Contribute to the pricing analysis, ensuring compliance with Accepted Actuarial Practice in Canada.
• Provide peer review of other team members’ works.
• Author reports that draw attention to critical issues and required actions.
• Communicate complex technical results, verbally and in writing, to key internal and external stakeholders, including senior management.
• Identify and implement process improvements to analytical work.
• Develop operational knowledge in areas such as underwriting, product development, and claims processing.
• Other insurance modeling projects as well as assisting the corporation to make data driven decisions.

Job Requirements 

• Post-secondary degree and a solid knowledge of actuarial principles along with a minimum of two years of relevant experience in a variety of actuarial work areas.
• You have completed at least three actuarial exams and are actively pursuing your Fellowship with the CAS (or equivalent organization).
• People describe you as a team player.
• Excellent verbal and written communication skills, which will be complemented by solid analytical skills, critical thinking, and knowledge of the insurance landscape.
• Excited to challenge the status quo and provide creative solutions to business problems.

We also consider your potential.  If you don’t meet these requirements exactly, but you know you have what it takes, be sure to let us know in your cover letter.

Analytical Software Tools

• Advanced knowledge of MS Excel is required. 
• Exposure to Python, SQL, R, VBA, PySpark, Emblem, and Radar are considered assets.

About us: 

At ICBC, it’s our job to make sure the car insurance system works for all British Columbians, today and in the future. If you want to make the most of your skills and expertise while growing your career, we want you. A career at ICBC is an opportunity to be part of a talented, diverse and inclusive team that is driven to serve its customers and community. You can expect a competitive salary, comprehensive benefits and a collaborative work environment. If you are reliable and dependable, contact us today to be part of our talented and diverse team as we work together to create an insurance system we can all be proud of.

Work arrangements defined: 

• Hybrid 8 – you will work a minimum of 8 days in a 4-week period at your primary office headquarters (typically 2 days per week). The remaining days will be remote within British Columbia. 

Benefits:

ICBC provides comprehensive benefit coverage to all eligible employees including a defined benefit pension plan and 4 weeks’ vacation, plus 3 Wellness Days.

• Three options available for your health and dental coverage
• Employee and Family assistance program (wellness support)
• Basic group life insurance
• Voluntary group life insurance
• Critical Illness insurance
• Sick leave plan – 100% of pay for a period of a maximum of 8 weeks
• Long term disability plan
• Pension plan – defined benefit pension plan that pays a benefit to you or your beneficiary upon termination, death, or retirement

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