The Finance department supports the CMPA’s mission and goals by safeguarding the Association’s assetsand proper valuation of the Association’s liabilities. Safeguarding the Association’s assets are accomplishedthrough accurate and timely recording and stewardship of financial transactions.Proper valuation of the Association’s liabilities are accomplished through detailed actuarial work following the Standards of Practice set by Canadian Institute of Actuaries.Actuarial Serviceismainlyresponsible for CMPA’s liability valuation andprotectionfeeprojection. The team developsproprietary applications and data structures,buildsactuarial models and processes, supportsfinancial auditing and providesinsight for the Association’s capital and liability management.
As a keymember of the Actuarial Service team, the ActuarialAnalyst is responsible fordeveloping, implementing and reporting on various actuarial projectsincluding:year-end andmid-year liability valuation,occurrence year protection fee projection, Dynamic Capital Adequacy Testing,mid-to-long term balance sheet projection, insurance program assessment, supporting year-end external review and auditing activities,and potentially participating in othertasks within the Association.
In addition, the analyst is responsible forfostering partnershipwith the rest of the actuarial team by providing professional and timely support to ensure all projects are delivered on time with high quality. While mainly working on actuarial projects, the analyst will have some interaction with members within and outside of finance team, and is expected to cultivates good working relationship to facilitate the design and development of new process to supporttheFinance function more efficiently.
Data preparation and validation for year-end and mid-year liability valuation
Build actuarial models by cost component, by region
Prepare supporting information for valuation report, such as exhibits, plots etc.
Peer review actuarial work produced within the team
Participating inyear-end review and auditing
Occurrence Year Fee Setting(25%)
Risk group analysis and validation
Build actuarial models for new occurrence year cost projection
Maintaining and improving the Macro used to produce supporting information for aggregate fees
Producing Type of Work fees, and complete supporting template to support billing
Participating in preparation of fee setting report
Financial Projection and Dynamic Capital Adequacy Testing(20%)
Support the mid-to-long term balance sheet projection produced by Actuarial service team
Work on supporting components of the financial projection
Prepare base scenario and calibrate stress scenarios for DCAT
Support the annual DCAT scenario construction with necessary research work
Work closely with actuarial application development team on various tasks, such as QA.
Provide timely and quality assistance to Chief Actuary to fulfil Actuarial team’s responsibility.
Knowledge sharing and cross training within and outside Actuarial service team.
Assisting in the preparation of presentation and other communication vehicles to delivery actuarial work product toSenior Management and Council.
Performing othertasks in the following area, but not limited to: CMPA’s insurance program, optimizing existing actuarial process, designing and implementingactuarial report.
EDUCATION AND EXPERIENCE
Bachelor’s Degree required, preferably with a concentration in Actuarial Mathematics or Statistics
Minimum 3 CAS exams completed
Minimum offouryears of relevant experience
Experience working with SAS and R preferred
Basic understanding of GAAP accounting procedure and financial reporting practiceconsideredan asset
Bilingualism (English andFrench)considered an asset
SKILLS AND ABILITIES
Advanced skills in Microsoft Exceland VBArequired
Ability to work independently and within a team environment
Ability to meet tight deadlines and perform well under pressure
Strong analytic and problem solving skills
Strong sense of ownership and self-accountability
Additional Salary Information: This position is classified at a Level 8 - Range Min. $66,576, Mid. $79,891, CP $86,549
Internal Number: 87
About Canadian Medical Protective Association
The CMPA is a not-for-profit association, incorporated by an Act of Parliament. Founded in 1901, the CMPA emerged from a need for physicians to work together to support their physician colleagues. While much has changed in the years since, the CMPA's tenet of mutuality — "for physicians by physicians" — has remained constant: the CMPA has a responsibility to its members, and members have a responsibility to each other and the CMPA.