Vice President and Chief Actuary, Global Insurance

Vice President and Chief Actuary, Global Insurance

Requisition ID : 232237

Purpose : The Chief Actuary is a key leadership role responsible for overseeing the actuarial functions within Global Insurance. This position involves strategic planning, risk management, and financial analysis to ensure the insurance operation’s financial stability and regulatory compliance. The Chief Actuary will collaborate with members of the management team to develop and implement policies and strategies that align with the company's goals and objectives.

Responsibilities

• Product Pricing : Lead all pricing and financial modelling for diverse insurance structures to support decision making and oversee regular reviews of pricing for products already in the market. Provide internal actuarial consulting when business need, workload, and incumbent expertise make this viable. Develop actuarial assumptions for business cases, proposals, etc. Collaborate with team members by providing input, analysis, and concurrence for business cases as required. Participate in M&A activity such as valuation, negotiation, and due diligence for Global Insurance.
• Reporting and Analysis : Provide analysis on business growth, morbidity, mortality, expenses, lapsation, asset defaults and income taxes. Propose compensation distribution channels and appropriate management expense ratios. Oversee expense, mortality, profitability, and other experience studies. Provide actuarial analysis to support calculations in relation to sales illustrations, pricing policy administration calculations, and interest rate models. Partner with Finance to define, develop and maintain financial measurement processes and a comprehensive business model for evaluating financial performance at the division level, including annual financial planning and monthly financial forecasts. Provide financial analysis and support to business line management with recommendations on key drivers including product / service costing, profitability, pricing, process improvement, and customer profitability.
• Strategic and Business Planning : Research competitive data to ensure products are marketable and stay informed on global insurance market dynamics. Provide expertise for financial reporting analysis. Work with the leadership team on strategic planning and implementation. Stay current on actuarial standards of practice and ensure they impact the company’s lines of business. Conduct insurance benchmarking studies and lead internal process improvement initiatives.
• Regulatory Reporting : Work with the appointed actuary to prepare actuarial reports and statements for regulatory bodies. Perform annual Dynamic Adequacy Testing for regulated subsidiaries in compliance with standards of practice and local regulations. Direct day-to-day activities to align with the Bank’s risk culture, risk appetite statement, and limits. Create an environment that pursues effective and efficient operations in accordance with Scotiabank’s values, code of conduct, and global sales principles, ensuring adequacy and effectiveness of day-to-day controls for regulatory obligations including AML / ATF / sanctions and conduct risk. Build a high-performance team, implement a people strategy, promote an inclusive work environment, coach and develop staff, and manage succession planning.

Education & Experience

Location(s) : Peru : Lima : Lima

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