Director - Actuarial Financial Reporting

What is the opportunity?

The Financial Reporting team within Corporate Actuarial plays a critical role in supporting financial reporting across all lines of RBC Insurance’s business. As the Director of Financial Reporting, you will oversee the financial reporting functions, ensuring timely and accurate analysis of liabilities and compliance with regulatory requirements. In this role, you will also lead the review of actuarial methodology and assumptions, driving insights and innovation that directly impact our organization’s success.

What will you do?

• Lead the Financial Reporting team and oversee the company’s production of month-end reporting processes, ensuring accuracy, completeness, and timeliness in collaboration with all stakeholders.
• Analyze and explain liability movements, including the impact of insurance experience and economic experience, and management actions and assumption changes, ensuring alignment with movement of reserves through DOE (Drivers of Earnings)
• Ensure financial reporting processes comply with internal and external audit requirements, including providing SOX attestation and liaising with auditors as needed.

• Coordinate review and delivery of the Appointed Actuary report, Life 1 return, and other actuarial reports in partnership with portfolio actuaries and the Appointed Actuary.

• Lead annual experience studies and assumptions and methodology reviews.

• Conduct annual expense study and recommend expense assumptions for Canadian Life & Health portfolios.

• Review and analyze annual IIT reporting to ensure compliance with regulatory requirements.

What do you need to succeed?

Must-Haves

• Advanced knowledge of a broad area of expertise of insurance products, features, and risk (by product and by function) gained through 10+ years of direct or indirect related work experience and training
• Bachelor’s degree (or greater) majoring in Actuarial Science. Other relevant Majors (e.g. Business, Economics, Mathematics, or Statistics) are acceptable if accompanied with demonstrated knowledge of Actuarial concepts.
• Knowledge of IFRS 17 standards, regulatory compliance requirements, and process controls.
• Ability and willingness to partner effectively with other actuarial leaders, as well as with leaders of other functional areas.
• General knowledge of Life Insurance law, underwriting principles and life insurance taxation.
• Ability to communicate effectively (both oral and written)
• Ability to deal with ambiguity, flexibility to adapt to change and prioritize in a deadline oriented environment.
• Good people management and development skills.

Nice-to-Haves

• Postgraduate degree, accounting designation and/or CFA
• Industry knowledge and experience

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits and competitive compensation
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Flexible work/life balance options
• Work in a dynamic, collaborative, progressive, and high-performing team

Job Skills

Additional Job Details

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.