Job Description

Reporting to the Director, Actuarial Services, the Manager, Actuarial Services is part of a team of actuarial and strategy professionals responsible for providing actuarial, technical and strategic support pertaining to the OMERS pension plans. The Manager will deliver and strengthen in-house actuarial capabilities and services, working primarily with the Strategy & Actuarial team but will also work with other managers, directors and VPs in other business units (primarily Pension, Corporate Finance, and Risk teams) related to funding, risk management, projections, and complex pension administration.

The Manager is responsible for overseeing day-to-day operations of the Strategy & Actuarial Services team and to promote an inclusive and diverse culture dedicated to quality, customer service, teamwork and employee development.

RESPONSIBILITIES:

• Providing actuarial expertise and technical support on all OMERS actuarial functions, including:

• assumption-setting for and reviewing of the funding valuations (for use in actuarial disclosures), solvency valuations, and other work prepared by external actuarial advisors,
• stochastic projections,
• trend and sensitivity analysis,
• experience studies
• asset/liability modelling,
• funding, surplus and risk management analysis, and
• actuarial costings, such as potential changes in plan design.
• Assisting in the preparation of concise and effective reports, presentations and/or briefing notes for senior management and for the two OMERS Boards.
• Providing thought leadership and support on funding strategies and policies for short- and long-term management of the plans and monitor these strategies and policies on an ongoing basis in terms of their effectiveness and appropriateness.
• Supporting the Strategy & Actuarial team with strategic activities and stakeholder requests.
• Contributing to or leading in the development of technological tools and in-house systems development that require actuarial expertise (e.g., plan valuation data extracts, actuarial calculation modules, etc.).
• Overseeing or carrying out the design, framework and functionality of actuarial and analytical tools to maintain top-tier delivery of in-house actuarial services.
• Influencing the Strategy & Actuarial Services team\xe2\x80\x99s continual drive for process improvement and efficiency.
• Providing guidance and mentoring to associates and senior associates.
• Striving to ensure accuracy, clarity, and completeness of OMERS publications, communication materials and financial statements.
• Keeping informed of industry knowledge and trends through topical literature, attendance at relevant seminars and conferences.
• Reporting on changes in industry practices and professional standards and analyze their impact on OMERS.
• Maintaining effective and collaborative relationships with OMERS colleagues, and external actuarial advisors.

QUALIFICATIONS:

• University degree (preference for a major in actuarial science, statistics or mathematics)
• Attainment of Associateship/Fellowship of the Canadian Institute of Actuaries or equivalent is strongly preferred.
• At least five years of experience in the pension industry.
• A proven understanding of actuarial principles, statistical concepts and interest theory.
• Sound knowledge of pension legislation, actuarial standards, liability valuation methods, forecasting methods and some experience with asset/liability modeling.
• Ability to review work prepared by others for accuracy and completeness and for compliance with applicable legislation and professional standards.
• Highly analytical with a mathematical aptitude, inquisitive, with an ongoing desire to learn.
• Proficient use of Microsoft Excel, Word and PowerPoint and their charting capabilities, including the ability to manage large data volumes, and summarize. VBA programming and knowledge of automation solutions (Power Query, Power Pivot, Office Scrips) is an asset.
• A working knowledge of Power BI is an asset.
• Hands-on experience with actuarial valuation systems (ProVal is preferred).
• A client-service attitude, team spirit and strong two-way communication and presentation skills, with the ability to both actively listen and to articulate in a clear, concise manner.
• An ability to explain complex actuarial and pension plan funding concepts in lay terms.
• Ability to motivate and inspire cross functional team members to consistently deliver high quality and superior customer service.
• Exceptional project management capabilities an ability to deliver under tight timelines with versatility and flexibility.
• An independent self-starter who is a great teammate and collaborative worker.

We believe that time together in the office is important for OMERS and Oxford, the strength of our employees, and the work we do for our pension members. In delivering on our pension promise, keeping us connected to our work and each other, our flexible hybrid work guideline requires teams to come to the office 3+ days per week.

#LI-HYBRID

Our story:

Founded in 1962, OMERS is one of Canada\xe2\x80\x99s largest defined benefit pension plans, with $127.4 billion in net assets as at June 30, 2023. OMERS is a jointly-sponsored pension plan, with more than 1,000 participating employers ranging from large cities to local agencies, and over half a million active, deferred and retired members. OMERS members include union and non-union employees of municipalities, school boards, local boards, transit systems, electrical utilities, emergency services and children\xe2\x80\x99s aid societies across Ontario. Contributions to the Plan are funded equally by members and employers. OMERS teams work in Toronto, London, New York, Amsterdam, Luxembourg, Singapore, Sydney and other major cities across North America and Europe \xe2\x80\x93 serving members and employers and originating and managing a diversified portfolio of high-quality investments in public markets, private equity, infrastructure and real estate.

OMERS is committed to having a workforce that reflects the communities in which we live and work. We are an equal opportunity employer committed to a barrier-free recruitment and selection process. At OMERS inclusion and diversity means belonging. How we create a sense of belonging is through our employees and our vast network of Employee Resource Groups. Whether you are passionate about gender, pride, or visible minorities, we have groups that are focused on making a difference in all of our lives.

Omers