Associate Director, Actuarial Financial Reporting
Apply NowCompany: Royal Bank of Canada
Location: Mississauga, ON L4T 4M6
Description:
Job Summary
Job Description
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 Associate Director of Financial Reporting, you will support the financial reporting functions, ensuring timely and accurate analysis of liabilities and compliance with regulatory requirements. In this role, you will also support the review of actuarial methodology and assumptions, driving insights and innovation that directly impact our organization's success.
What will you do?
Strategic leadership and team management
Regulatory disclosure and business insight
Process optimization and reporting excellence
What do you need to succeed?
Must-have
Nice-to-have
Job Skills
Actuarial Services, Critical Thinking, Financial Reporting and Analysis, IFRS 17, Industry Knowledge, Insurance Finance and Actuarial Concepts, Month End Reporting, Multi-Level Communication, Risk Analysis Management, Risk Management
Additional Job Details
Address:
MEADOWVALE BUSINESS PARK, 6880 FINANCIAL DR:MISSISSAUGA
City:
MISSISSAUGA
Country:
Canada
Work hours/week:
37.5
Employment Type:
Full time
Platform:
GROUP RISK MANAGEMENT
Job Type:
Regular
Pay Type:
Salaried
Posted Date:
2025-04-22
Application Deadline:
2025-05-07
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.
Join our Talent Community
Stay in-the-know about great career opportunities at RBC. Sign up and get customized info on our latest jobs, career tips and Recruitment events that matter to you.
Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at jobs.rbc.com.
Job Description
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 Associate Director of Financial Reporting, you will support the financial reporting functions, ensuring timely and accurate analysis of liabilities and compliance with regulatory requirements. In this role, you will also support the review of actuarial methodology and assumptions, driving insights and innovation that directly impact our organization's success.
What will you do?
Strategic leadership and team management
- Lead a high-performing financial reporting team to oversee month-end, quarter-end, and year-end closing processes for all RBC Insurance portfolios. 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)
- Coordinate annual experience studies and actuarial methodology and assumption updates
- Foster a culture of collaboration by partnering with cross-functional teams (Actuarial, Finance, IT, and Risk Management) to align CSM processes with organizational objective
- Coach and develop team members
Regulatory disclosure and business insight
- Produce regulatory disclosure reports (OSFI returns, Notes to the financial statements, etc.), ensuring compliance with evolving regulatory standards
- Coordinate review and delivery of the Appointed Actuary report and other actuarial reports in partnership with portfolio actuaries and the Appointed Actuary.
- Develop management reports, such as DOE (Drivers of Earnings) and New business dashboard, and other ad-hoc analyses to support strategic decision-making for internal stakeholders, leveraging tools like Python or Tableau for data visualization.
- Review and analyze annual IIT reporting to ensure compliance with regulatory requirements.
Process optimization and reporting excellence
- Work with the IFRS 17 project team to identify system issues and enhance the IFRS17 reporting process
- Ensure financial reporting processes comply with internal and external audit requirements, including providing SOX attestation and liaising with auditors as needed.
What do you need to succeed?
Must-have
- Advanced knowledge of a broad area of expertise of insurance products, features, and risk (by product and by function) gained through 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.
- FSA/FCIA and/or CFA designations
- 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-have
- GGY Axis
- Various coding language
Job Skills
Actuarial Services, Critical Thinking, Financial Reporting and Analysis, IFRS 17, Industry Knowledge, Insurance Finance and Actuarial Concepts, Month End Reporting, Multi-Level Communication, Risk Analysis Management, Risk Management
Additional Job Details
Address:
MEADOWVALE BUSINESS PARK, 6880 FINANCIAL DR:MISSISSAUGA
City:
MISSISSAUGA
Country:
Canada
Work hours/week:
37.5
Employment Type:
Full time
Platform:
GROUP RISK MANAGEMENT
Job Type:
Regular
Pay Type:
Salaried
Posted Date:
2025-04-22
Application Deadline:
2025-05-07
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.
Join our Talent Community
Stay in-the-know about great career opportunities at RBC. Sign up and get customized info on our latest jobs, career tips and Recruitment events that matter to you.
Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at jobs.rbc.com.