Vice-President : Corporate Actuarial - Financial Reporting & Peer Reviews

Vice-President

Great-West Lifeco

Role description 

In this role, you will lead the actuarial input into financial reporting and regulatory reporting for Great-West Lifeco and Canada Life, including overseeing enterprise-wide controls on the determination of insurance and investment contract liabilities, the preparation of financial statement disclosures on insurance and investment contract liabilities, and the consolidation of Drivers of Earnings analysis across Great-West Lifeco with supporting commentary.  As part of this function, you are encouraged to seek opportunities to provide insights on the results and analysis, which supports the sound management of the business. You will also be responsible for regulatory reporting on actuarial valuations and exposures to OSFI.

In this role, you will also lead the internal peer review process for actuarial work across Great-West Lifeco.  The internal peer review process is a core component of the Appointed Actuary’s mandate, providing assurance on highly technical or specialist aspects of the actuarial valuations, LICAT reporting and other actuarial work across the organization. 

What you will do 

• Actuarial input into Financial Reporting (quarterly and annual):
  • Review the extensive suite of enterprise-level controls supporting the preparation of insurance and investment contract liabilities each quarter to ensure completeness and accuracy of the liabilities.  Document any insights or issues requiring further discussion.
  • Set standards on Drivers of Earnings analysis, and support a consistent interpretation and application of the standards across Great-West Lifeco
  • Consolidate Drivers of Earnings results and analysis across Great-West Lifeco
  • Prepare relevant financial statement and MD&A disclosures, and inputs into the Supplementary Information Package
  • Support the Appointed Actuary in preparing reports to the Audit Committee on actuarial matters
  • Lead the Corporate Actuarial team in preparing quarterly regulatory filings to OSFI
  • Support Investor Relations on any actuarial matters, in preparing for quarterly external earnings calls
  • Support the team in identifying opportunities for process improvement, and implementing process and systems change
• Process supporting financial reporting:
  • Pro-actively seek input from stakeholders across the organization, and the Corporate Actuarial team, on the actuarial-led elements of the financial reporting process, to ensure we continually generate ideas for process improvement
  • Prioritize and execute on process improvement opportunities, which will include working closely with the IT and business teams supporting to IFRS 17 systems to implement system changes
• Provide insights on the financial reporting analysis, which supports the sound management of the business, including detailed analysis of insurance experience gain/loss
• Support regulatory engagements on matters relating to insurance and investment contract liabilities:
  • Lead the preparation of the Appointed Actuary Report each year
  • Lead the response to engagements and themed reviews from OSFI
• Lead the internal peer review process, which involves:
  • Setting the program of peer reviews, with input from key stakeholders
  • Leading the actuarial team performing the reviews, including providing technical support and guidance.  This can involve the gathering of input from subject-matter experts across the Lifeco corporate teams, where required.
  • Engaging in a discussion with the relevant teams on the findings of the peer review
  • Track completion of the findings

What you will bring 

• 10 + years of relevant, related experience; experience in actuarial valuations is preferred
• University degree and designation as an actuarial fellow required
• A very high level of actuarial expertise, staying educated/up to date with respect to Canadian actuarial practices and methods and OSFI guidelines
• Exceptional analytical and problem-solving skills, with the ability to translate findings to educate other leaders to ensure appropriate outcomes
• Communication skills that enable sharing complex concepts to different audiences in a manner that is readily understood and meaningfully relates to business and risk management priorities
• Exceptional organizational skills, with ability to manage complex interactions within processes
• Highly engaged approach to improve ways of working, including the adoption of new tools
• Openness to receiving feedback on the process from teams inputting into the quarterly consolidated financial reporting
• Ability to have a well-rounded and balanced discussion with experienced actuaries, as part of the internal peer review process
• Demonstrated ability to influence teams where resources do not all report directly into the function (i.e., where significant direction comes from other functions)
• Ability to develop highly collaborative, cross-functional relationships, and strong relationships across our regional actuarial teams
• Ability to establish appropriate priorities for the team and monitor and influence progress to be able to achieve necessary goals
• Skills to attract, motivate and develop actuarial talent within the organization
• High engagement around mentoring the next generation of actuaries and passing on institutional knowledge

Given the size and scope of our organization, we have the flexibility for this position to be located in the following head office locations: Toronto, London, Winnipeg. 

Career opportunities will be open a minimum of 5 business days from the date of posting, closing dates will vary depending on the search activity. All applications received will be reviewed on a rolling basis.

Be your best at Great-West Lifeco and Canada Life - Apply today! 

Great-West Lifeco Inc is a Canadian headquarter, international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management, and reinsurance businesses. We operate in Canada, the United States, and Europe under the brands: Canada Life, Empower and Irish Life. 

At the end of 2023, our companies had over 33,500 employees, 232,000 advisor relationships, and thousands of distribution partners – serving approximately 42 million customer relationships.

Great-West Lifeco trades on the Toronto Stock Exchange (TSX) under the ticker symbol GWO and is a member of the Power Corporation group of companies.

Being a part of our organization means you have a voice. This is a place where your unique background, perspectives and talents are valued, and shape our future success.  

You can be your best here. You are part of a diverse and inclusive workplace where your career and well-being are championed. You’ll have the opportunity to excel in your way, finding new and better ways to deliver exceptional customer and advisor experiences.

We are committed to providing an inclusive, accessible environment, where all employees and customers feel valued, respected and supported. We are dedicated to building a workforce that reflects the diversity of the communities in which we live, and to creating an environment where every employee has the opportunity to reach their potential. 

It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Canada Life policies. To request a reasonable accommodation in the application process, contact talentacquisitioncanada@canadalife.com.

We would like to thank all applicants, however only those who qualify for an interview will be contacted.