Job Summary Job Description What is the opportunity? As an Actuarial Associate, you will be central to the development and maintenance of actuarial models that underpin the calculation of actuarial reserves for our various product lines, directly feeding into our IFRS17 financial results. This role also has accountabilities for building new valuation models, improving modeling methodologies, as well as maintaining and updating existing actuarial models. What will you do? Perform IFRS17 month-end valuations using actuarial models for various product lines, ensuring accuracy and timeliness. This involves data processing for monthly inputs to the actuarial models, performing model runs, and preliminary analysis of the results. Develop, test, and maintain actuarial models using GGY Axis. Collaborate with portfolio teams to understand their needs and incorporate relevant assumptions and implement changes into the actuarial models. Document model methodologies, assumptions, and results clearly and comprehensively. Contribute to the ongoing development of best practices within the actuarial modeling team. Support and facilitate model reviews conducted by Enterprise Model Risk team, including preparing documentation and explanations. Accountable for the change management process that maintains model integrity Must Haves: Bachelor’s degree (or greater) majoring in Actuarial Science or Business. Other relevant Majors (e.g. Economics, Mathematics, or Statistics) are acceptable if accompanied with demonstrated knowledge of Actuarial concepts. In pursuit of FSA/FCIA designations Strong analytical and communication skills for carrying out responsibilities Strong technical skills in GGY AXIS, R, MS Excel and MS Access (SQL) Knowledge of IFRS17 modeling standards and process controls. 2 to 4 years of related actuarial work experience Solid understanding of actuarial principles, practices, and modeling logics for valuation and liability projections Excellent problem-solving skills for identifying and recommending enhancements to existing models and methodologies Knowledge of life insurance standards of practice and reserving principles Nice-to-Have: Knowledge of Tableau, SQL and Python Prior working knowledge of modeling Universal Life and Segregated fund (variable annuities) products What’s in it for you? A Total Rewards program that includes flexible benefits, work/life balance and career development programs and investment and retirement savings plans Competitive pay and high-earning potential All the tools, training, and team support you need to grow your business and career Flexible work/life balance options Sophisticated RBCI software tools to boost your productivity and grow your business Job Skills Actuarial Modeling, Actuarial Services, Critical Thinking, Industry Knowledge, Insurance Finance and Actuarial Concepts, Multi-Level Communication, Probability Theory, Risk Analysis Management, Risk Management, System Applications 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: 2025-05-07 Application Deadline: 2025-05-24 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. Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 84,000+ employees who bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to more than 16 million clients in Canada, the U.S. and 34 other countries. Learn more at rbc.com.? We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.
