Data Scientist I (Quants) – Insurance Model Validation

Description

Your work sits in the Model Validation group within Enterprise Risk and Risk Management, which independently validates and approves every analytical model the company uses.

You report to the Senior Manager of Insurance Model Validation and work alongside big data developers and analytics experts in a close, team-based setting.

The company reaches out to candidates it wants to interview and shares outcomes with applicants by email or phone.

Responsibilities

• Independently validate a range of insurance models.
• Run validation tests and analysis on FCRM models under Senior Manager or Manager supervision, supporting business initiatives and regulator requirements.
• Talk with first line stakeholders to resolve model limitations and issues found during validation.
• Write high quality validation reports that justify your conclusions and support audit and regulator review of the process and the analysis.
• Keep up to date on actuarial methodology and ML/AI modelling for insurance.
• Build validation testing tools and programs for advanced AI and ML models.
• Work closely with key stakeholders to complete validations on time for business initiatives.
• Carry out the validation plan so results match enterprise model validation procedures and the model risk policy.
• Share knowledge, skills and subject matter expertise across the team.
• Collaborate with other functions and teams to finish validations efficiently and escalate issues in time.

Requirements

• A post-secondary degree in actuarial science, statistics, AI/ML or financial engineering.
• Fellow or associate status with the Society of Actuaries (FSA), the Casualty Actuarial Society (ACAS), or the Canadian Institute of Actuaries (ACIA).
• In-depth knowledge of ML and AI modelling.
• Proficiency in programming languages and software used for AI and ML modelling.
• Strong spoken and written communication.
• Solid time and project management skills, and the ability to juggle several tasks with minimal supervision.
• Asset: 1+ years at a top 10 Canadian P&C insurer developing or validating a new pricing and rating solution, with exposure to AI or ML modelling.
• Asset: experience modelling or validating several life and general insurance (auto and property) product lines, covering IFRS 17 liability or reserves, stress testing, ORSA or CAT models.

Conditions

Location: Toronto, Ontario, Canada.

Listed hours: 0.

Line of business: Analytics, Insights, and Artificial Intelligence.

Base salary range: $81,600 to $115,200 CAD.

Pay offered within the range may depend on your skills, experience, job-related knowledge, location, and business needs, and colleagues can progress through the range over time.

Ask your recruiter any questions about pay for this role.

Employment here is subject to provincial regulation, and each province or territory may have its own requirements.

Benefits

• Total rewards include base salary, variable pay, health and well-being benefits, savings and retirement plans, paid time off, banking benefits and discounts, career development, and recognition programs.
• Scheduled talks with your manager about your career, growth and performance.
• An online learning platform and a range of mentoring programs to help you grow.
• Training and onboarding sessions to prepare you for the role.