Senior Manager, Actuarial - Compliance Oversight of Models Office (COMO)

Work Location:
Toronto, Ontario, Canada

Hours:
37.5

Line of Business:
Data & Analytics

Pay Details:
131 700 $/$131,700 - 195 000 $/$195,000 CAD

The pay details posted reflect a temporary market premium specific to this role that is reassessed annually.

TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs.

As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Job Description:

Role Overview

Are you passionate about actuarial science, risk management, and regulatory compliance? Do you thrive at the intersection of technical expertise, governance, and ethical practice? As Senior Manager, Actuarial in COMO, you will lead the oversight of actuarial models, ensuring robust governance and regulatory compliance across the enterprise, with a special focus on bias and fairness assessment. You will champion the evolution of rating and underwriting practices toward principles-based, consumer-focused outcomes.

Key Accountabilities

• Lead and manage a team of actuarial professionals responsible for reviewing actuarial models for regulatory compliance, conduct risk, and alignment with enterprise standards.
• Establish and maintain a comprehensive governance framework for bias and fairness assessment of actuarial models, drawing on leading policy, regulatory guidance, and actuarial literature.
• Develop, implement, and maintain governance frameworks, technical standards, guidelines, and training materials for actuarial work, with explicit requirements for bias and fairness testing, documentation, and remediation.
• Oversee research projects to identify, assess, and address risks associated with actuarial modeling, including emerging regulatory requirements and best practices for fairness and transparency.
• Provide independent challenge and oversight to actuarial model development, validation, and deployment processes, with a focus on identifying and mitigating sources of bias and unfair outcomes.
• Collaborate with business units, control partners, and compliance teams to support risk management and regulatory compliance throughout the actuarial model lifecycle, including the integration of fairness and bias controls.
• Represent Compliance in major projects, initiatives, and executive-level engagements related to actuarial modeling and fairness governance.
• Respond to regulatory inquiries, examinations, and investigations pertaining to actuarial models, especially those related to fairness, bias, and ethical use.
• Foster a culture of risk management, control, and ethical actuarial practice within the organization, championing fairness and transparency.
• Ensure all actuarial rating and underwriting practices are aligned with evolving principles of Fair Consumer Outcomes, including accurate pricing, absence of unfair discrimination or bias, accessibility, cost mitigation, balanced profitability, and transparency.
• Drive continuous improvement in operations, controls, and governance for actuarial rating and underwriting, anticipating future regulatory and market expectations.

• Design and implement policies and procedures for bias and fairness assessment in actuarial models.
• Ensure actuarial models and rating systems are free from unfair discrimination, arbitrary criteria, and proxies for protected grounds, in accordance with the Ontario Human Rights Code and industry best practices.
• Maintain a centralized inventory of actuarial models, including evidence of fairness testing, model validation, and ongoing monitoring.
• Collaborate with data governance and model risk management teams to ensure data quality, integrity, and appropriate use in actuarial modeling.
• Lead the development of training and awareness programs for actuarial staff on bias, fairness, and regulatory requirements.

• Fellow of the Casualty Actuarial Society
• Fellow of the Canadian Institute of Actuaries
• Significant experience in actuarial model development, validation, and governance, including bias and fairness assessment.
• Demonstrable engagement with regulatory issues and best practices in actuarial modeling, fairness, and transparency.
• Experience supporting regulatory and accreditation processes, and driving forward-thinking actuarial governance.