Requisition ID: 211534
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

The Director and Actuary is part of the Risk Oversight Reporting team in Enterprise Risk Management reporting to the VP, Risk Oversight Reporting to manage insurable and insurance risks at the enterprise level.

Is this role right for you? In this role, you will:

Oversee and manage the Global Insurance Program and self-insurance program through three transits ($13 million budget annually), including the renewal/procurement process, review of insurance binders, policies, and endorsements upon renewal to ensure accuracy, completeness, and consistency, and partnership with E.O. Finance to set up provisions for actuarial liabilities, accrual/deferral, and business line allocation.

• Ensure compliance with governing regulations and internal policies and procedures.
• Manage third-party risk by providing guidance and recommendations with the review of insurance schedules in vendor/supplier agreements, leases, and other documents as required
• Provide annual reports to key stakeholders, subsidiaries, board members, and regulatory authorities of the Global Insurance Program
• Prepare related party transactions reporting for regulatory compliance.
• Oversee the Bank's insurance business stress testing and provide advice and counsel on insurance risk-related items to insurance subsidiaries
• Continuously lead the strategy to identify optimal risk transfer solutions and/or integration into the Global Insurance Program
• Develop and maintain the Bank's Insurance Risk Appetite Metrics, Insurance Risk Management Policy, and relevant guidelines; ensure the implementation of such metrics, policies and guidelines across all insurance and reinsurance subsidiaries.
• Active voting member and Co-Chair of the Insurance Risk Committee.
• Champions a high-performance environment and contributes to an inclusive work environment
• Participates in other enterprise risk activities as required

Do you have the skills that will enable you to succeed in this role? We'd love to work with you if you have experience with:

• Fellow of the Society of Actuaries (FSA)/Fellow of the Casualty Actuarial Society (FCAS) + minimum 7 years of relevant financial/insurance risk management experience Or Associate of the Society of Actuaries (ASA)/Associate of the Casualty Actuarial Society (ACAS) + minimum 12 years of relevant financial/insurance risk management experience
• A university degree in Mathematical/Statistics/Finance is required
• Strong understanding of the reinsurance captive operation
• Superior communication skills and ability to write clearly and concisely
• Strong analytical and critical thinking skills with ability to problem-solve and execute multiple projects at any given time
• Superior interpersonal skills to work effectively with multiple internal stakeholders and management at various levels

What's in it for you?

• The opportunity to join a forward-thinking and collaborative team, surrounded by innovative thinkers
• A rewarding career path with diverse opportunities for professional development
• Internal training to support your growth and enhance your skills
• An inclusive working environment that encourages creativity, curiosity, and celebrates success!
• Work in an Ecosystem; a bright, modern space where you'll have access to group seating, offices, collaboration spaces, a cafeteria with different options daily, a bistro, and more
• Hybrid Work Environment

Location(s): Canada : Ontario : Toronto
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.
At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.