Description:
1. Direct, review and provide technical expertise on actuarial work performed by the staff. This includes:
- Providing advice and guidance on the methods, models and assumptions used
- Analyzing and validating the results of work produced by project teams for reasonableness and accuracy,
- Ensuring timelines are met especially for quarterly and annual reporting
2. Key functions include :
- Valuation of Benefit Liabilities (Schedule 1 & 2)
- Financial implications on Experience Rating Programs (CAD7, NEER, MAP, SG)
- Schedule 1 Premium Rates and Schedule 2 Administration Rate setting
- Funding and Financial Forecasting
- Preparing reports and recommendations for WSIB Actuarial Senior Management.
- Keeping abreast of changes in Actuarial Practices and WSIB policies that may impact the delivery of actuarial services.
- Presenting actuarial estimates to external stakeholders such as employers, auditors, and other actuaries. Actuarial studies and findings are routinely presented and explained to both internal and external stakeholders.
- Participating in meetings, presentations and information sessions with internal and external clients.
3. Lead or Participate in the design, review, validate and report on experience studies, costing of legislative changes and special projects. Experience studies are used to validate or set assumptions for actuarial models. Studies and special projects includes:
- Mortality studies, termination studies, occupational disease studies, health care studies, future administration cost studies and economic Studies
- Preparation for presentations to WSIB BoD, senior management, Ontario government or other external actuaries or employers.
- Special projects (Modeling changes, Earnings by Source, New Pricing or Funding systems/methods, New Accounting Standards)
- Costing includes changes in administrative and legislative practices and policies
4. Plan, manage and develop actuarial staff, which includes:
- Annual/monthly planning of projects and priorities
- Identifying resource requirements
- Allocating work efficiently and effectively
- Recruiting
- Establishing performance objectives and conducting performance reviews
- Maintaining competitive actuarial development plans and approving staff expenses and study times