Associate Actuarial Specialist - 12-month contract
Full Time - Toronto, Canada
Ontario Teachers' Pension Plan

Associate Actuarial Specialist — 12-month contract at Ontario Teachers' Pension Plan

Type Full Time
Location Toronto, Canada

At Ontario Teachers, we know that our Talent are our greatest strength – every innovation, every idea and every win has been powered by our people. We offer a work experience that inspires, encourages talent development, celebrates diversity and rewards superior performance. The best and brightest not only come here – they stay. Help us continue to deliver outstanding service and retirement security to our members and be the world’s leading pension plan. Apply today! Your Talent. Your Experience. Our Future.

The opportunity

We are currently seeking an Associate Actuarial Specialist to provide strong support on a variety of actuarial assignments including maintenance of applications, management of the valuation data, contentious/sophisticated calculations, and implementation of relevant taxation changes.

Who you'll work with

The specialist will report the Senior Manager, Actuarial Services & Tax.

What you'll do

Develop and maintain actuarial applications/algorithms to calculate member entitlements:

  • Responsible for the integrity of the actuarial applications employed in Member Services
  • Convert legacy applications to run on corporate supported software
  • Guide actuarial analysts on the on-going updates of rate tables, test rate table updates, year-end reconciliation and test other enhancements

Ensure quality of actuarial valuation data:

  • Assist and guide team with testing actuarial valuation data for accuracy and completeness
  • Review and analyse data queries received from the Plan’s actuary and report findings
  • Reconcile the valuation extract data
  • Review various actuarial components of member entitlement calculations too complex for the existing entitlement processing systems: identify issues, identify potential system overrides, implement required system overrides, and provide required entitlement calculations and optimal processing advice.
  • Conduct research, perform analysis and report findings for key actuarial studies related to: pension plan demographic experience, impact of pension plan changes/issues, and corporate/divisional projects.
  • Provide support to other departments with actuarial and tax-related changes to systems, processes and procedures: identify test case scenarios, identify and resolve issues related to complex member entitlement calculations.
  • Prepare and/or review actuarial and tax-related materials and updates for distribution to internal clients.
  • Monitor developments to the relevant standards of practice of the Canadian Institute of Actuaries and identify impact of any changes in standards on internal systems and processes working to effect updates as required.
  • Assist Manager, Actuarial Services and Tax in preparing detailed analyses related to the inter-plan transfers, Income Tax Act regulations and other relevant legislation for reporting to the Senior Staff.
  • Be a key resource for Family Law Value Calculations including programming of calculations and working directly with other internal experts on necessary changes to forms, disclosures, calculations, etc.
  • Assist Senior Manager, Actuarial Services and Tax in preparation of various reports required for the Board, the Actuarial and Audit Committee and the external auditors.
  • Other duties as assigned.

What you'll need

  • Minimum three-five years of experience in defined benefit pension plan administration including calculation of pension entitlements (retirement, termination and death), commuted values, PAs, PSPAs and PARs.
  • Exposure to the actuarial valuation process related to sufficiency and reliability of the data.
  • Minimum ASA, ACIA designations and demonstrated commitment to attaining FSA, FCIA qualifications.
  • Thorough knowledge of compound interest and life contingencies.
  • Thorough knowledge of defined benefit pension plans and related legislation (Income Tax Act, Pension Benefits Act (Ontario)). Knowledge of Retirement Compensation Agreements is an asset.
  • Excellent working knowledge of and ability to program in Visual Basic and excel.
  • Knowledge of Jointly Sponsored Pension Plan legislation a strong asset.
  • Excellent mathematical, analytical and research skills (including the ability to report findings).
  • Excellent interpersonal and communication (oral and written) skills.
  • Proven ability to maintain high levels of accuracy and timeliness.
  • Demonstrated project planning skills.
  • Proven ability to work collaboratively in a team-oriented environment.
  • Ability to evaluate information, check for conformity with standards, and create, develop and implement solutions within those limits.
  • Meticulousness and excellent attention to detail is critical.

What we're offering

  • Pay for performance environment that offers competitive salary and incentive
  • Numerous opportunities for professional growth and development
  • Retirement income through a defined benefit pension plan
  • A flexible/hybrid work environment combining in office collaboration and remote working
  • Discount programs including Edvantage and Perkopolis
  • Degreed: a digital platform that helps you quickly and easily discover, share, and track ALL kinds of learning resources — from courses to videos to articles and more.

At Ontario Teachers', diversity is one of our core strengths. We are a globally minded organization and take pride ensuring that the people we hire and the culture we create reflect and celebrate diversity of thought, background and experience. Through our Inclusion & Diversity Employee Resource Groups (ERGs) events, celebrations, we offer a variety of opportunities for colleagues to connect for the purposes of professional development and networking & mentoring.

How to apply

Are you ready to pursue new challenges and take your career to the next level? Apply today!

You may be invited to complete a pre-recorded digital interview as part of your application. This portion of your application will take approximately 10 minutes to complete.

Accommodations are available upon request (talent_acquisition@otpp.com) for candidates with a disability taking part in the recruitment process and once hired.

Note that all individuals employed by Ontario Teachers’ in our Toronto office will be required to provide proof of full vaccination against COVID-19 as a condition of employment. We remain committed to an accessible, inclusive and barrier free workplace; written requests for a human rights-based exemption from vaccination will be considered on a case-by-case basis.

Candidates must be legally entitled to work in the country where this role is located.

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Functional Area:

Member Services

Requisition ID: 4267

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Posted May 09, 2022

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