Volkswagen Group

Underwriting & Actuarial Manager – Insurance

Volkswagen Group

full-time

Posted on:

Location Type: Hybrid

Location: Pickering • 🇨🇦 Canada

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Job Level

SeniorLead

Tech Stack

PythonSQL

About the role

  • Evaluate complex insurance applications to determine risk levels and coverage eligibility
  • Develop and implement underwriting guidelines and procedures to ensure consistency and compliance
  • Review and approve high-value or non-standard policies, often requiring nuanced judgment and negotiation
  • Collaborate with brokers, agents, and clients to clarify application details and negotiate terms
  • Ensure regulatory compliance with insurance laws and internal standards
  • Support the implementation of IFRS 17 for the insurance products
  • Understand and provide effective challenge on Pricing and Reserve calculation for Auto Insurance products
  • Collaborate with the Risk Management Planning and Reporting Group, Accounting and senior management in establishing adequate loss provisions for Insurance products
  • Engage with CFO, VP of Finance and Chief Risk Officer, Accounting, Risk Management, Brand executives and external auditors to gain acceptance on the loss and reserve forecasts
  • Provide technical and operational support to auditors to ensure successful audit close
  • Be able to extract data from data warehouse for Insurance products and perform analysis on upcoming issues/trends
  • Providing all actuarial inputs for income recognition for actual and forecast models
  • Regular updates on Loss curves vs. priced
  • Perform comparison of actual to priced loss ratios
  • Lead and mentor a team of underwriters and analysts, providing training and performance feedback
  • Set strategic direction for underwriting and risk management aligned with company goals
  • Implement process improvements to enhance efficiency, accuracy, and turnaround times
  • Participate in cross-functional initiatives, including sales, claims, and compliance

Requirements

  • Bachelor’s Degree in a quantitative discipline: Statistics, Mathematics, Economics, Operations Research
  • Master’s Degree in related field (Preferred)
  • Professional certifications such as CPCU, FCAS, or ASA
  • 10+ years minimum, Strong background in insurance underwriting and actuarial science preferred
  • At least 5 years working as an actuary in the Insurance industry and having an ACAS designation
  • 3 years working in Auto Insurance Industry with knowledge of Auto Insurance products (Desired)
  • Lead and direct the work of others
  • Ability to conduct large scale projects and research through all stages: concept formulation, definition of metrics, determination of appropriate methodology, research evaluation and final research report
  • Specialized ability to communicate highly technical subjects to senior executives and others who have limited background in mathematics or statistics
  • Analytical and conceptual thinking – ability to understand business problems and develop data-driven solutions
  • Support a robust pricing and/or reserving review process for insurance business, including both standard actuarial techniques and advanced modeling
  • Proficiency in data analysis tools, underwriting software, and statistical packages
  • Develop indications and communicate them to Actuarial Management and Senior Leadership
  • Work collaboratively as a part of the broader Pricing and/or Reserving process
  • Develop and communicate business analytics to Senior Leadership
  • Foster innovation within the team and across the broader organization
  • Support development of themselves and other associates in an actuarial capacity and according to VCI vision and mission statement
  • Ability to build models using open-source software (e.g. R, Python), experience in distributed statistical computing preferred
  • Personal or commercial auto insurance experience
  • Excellent Excel skills and strong with SQL
  • Experience mentoring and/or directing junior team members.
Benefits
  • Volkswagen Financial Services is committed to diversity and inclusion in the workplace.

Applicant Tracking System Keywords

Tip: use these terms in your resume and cover letter to boost ATS matches.

Hard skills
insurance underwritingactuarial sciencedata analysispricing and reservingstatistical modelingdata-driven solutionsloss ratio analysisrisk assessmentfinancial forecastingprocess improvement
Soft skills
leadershipcommunicationanalytical thinkingconceptual thinkingnegotiationcollaborationmentoringstrategic directionproblem-solvinginnovation
Certifications
CPCUFCASASAACAS