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ICBC is actively seeking to hire the Vice President, Insurance & Chief Actuary to join our Executive team and lead ICBC’s Insurance division. Reporting directly to the President & CEO, as the Vice President, Insurance & Chief Actuary, you will be accountable for the overall profit and loss of the insurance line-of-business, including underwriting, sales, pricing, product development, vehicle licensing and registration, insurance product distribution, regulatory governance, and the design and placement of the company reinsurance program. As the member of ICBC’s executive team, the Vice President, Insurance & Chief Actuary ensures the advancement of ICBC’s strategic goals.
In This Role, You’ll Be Responsible For
- Directing the underwriting, rating/pricing, and renewal policies for the insurance products. Developing new products that meet customer experience, affordability, and other corporate objectives.
- Providing mentorship and peer review support to the Corporate Actuary with a shared responsibility for the company’s provision for claims liabilities and capital management plans.
- Directing the contact centres that support customer and brokers. Also, directing the back-office policy administration functions that support the insurance, registration, and licensing processes.
- Directing the design and placement of the company’s reinsurance program to reduce risk to the corporation.
- Developing and executing the business strategies for growth in an increasingly competitive environment. Ensuring both competitive and regulated business lines have independent and self-sustaining business plans.
- Developing the distribution strategy for insurance products that meets corporate revenue, customer experience, and affordability targets.
- Overseeing the quality of the relationship with brokers distributing our products. Establishing and enforcing the contractual relationship with all brokers.
- Developing the policies, procedures and standards required to meet business objectives and compliance with regulatory and professional standards.
- Providing corporate strategic regulatory advice and services on regulatory processes related to the BC Utilities Commission (“BCUC”). Overseeing the preparation, filing, and securing approval of all applications made to the BCUC.
- Providing expertise to government on key insurance and vehicle licensing principles to support policy discussions and legislative drafting guidance.
- Contributing to the strategic vision, plan, and direction of the company.
- Developing leadership talent with responsibility for succession plans for key positions in the Insurance Division.
- Staying abreast of insurance industry trends and product innovations and directs the collection of product research for the insurance division for corporate use.
As a Valued Member Of The ICBC Team, You Will Thrive In a Performance-driven Environment That Emphasizes Employee Leadership And Accountability For Delivering Results. The Successful Candidate Will Be Expected To Consistently Conduct Themselves In Alignment With ICBC’s Core Values Of
- Collaborative
- Supportive
- Straightforward
- Knowledgeable
Position Requirements
- 15+ years’ progressive experience in a senior leadership level role within large, complex organizations in the insurance industry.
- Post secondary education related to business administration or marketing, a Master’s Degree in Business Administration is an asset.
- Accreditation with the Canadian Institute of Actuaries (CIA) and the Casualty Actuarial Society (CAS).
- Solid experience setting clear organizational goals and standards, placing customer at centre of strategy.
- Demonstrated ability to influence within a complex organizational structure, articulating a clear vision and demonstrating robust business acumen of key drivers of corporate results.
- Solid background creating clear and effective business strategies, identifying, and making long-term decisions, while open and proactively asking for feedback.
- Demonstrated strong communication skills with an ability to translate technical concepts for non-technical audiences, while building and maintaining strategic relationships.
- Demonstrated commitment and success in building diverse, equitable and inclusive teams, where people are able to thrive, feel valued and have a genuine sense of belonging.
- Demonstrated strong executive presence and success as a collaborative leader with experience attracting, developing, managing, motivating, and retaining outstanding talent.
- Unquestionable ethics and integrity, demonstrating personal ownership of organizational challenges.
- Experience driving major business change, inspiring excitement about the future.
About Us
At ICBC, it’s our job to make sure the car insurance system works for all British Columbians, today and in the future. If you want to make the most of your skills and expertise while growing your career, we want you. A career at ICBC is an opportunity to be part of a talented, diverse and inclusive team that is driven to serve its customers and community. You can expect a competitive salary, comprehensive benefits and a collaborative work environment. If you are reliable and dependable, contact us today to be part of our talented and diverse team as we work together to create an insurance system we can all be proud of.
Work Arrangements Defined
- Hybrid 8 – you will work a minimum of 8 days per month at your primary in-office headquarters (typically 2 days per week). The remaining days will be remote within British Columbia.
We invite you to apply today and find out why employees recommend ICBC to their friends and family as an excellent place to work. We value and seek to maintain an environment of Collaborative, Supportive, Straightforward, and Knowledgeable team. Come join us at one of BC’s Top Employers!
ICBC provides comprehensive benefit coverage to all eligible employees including a defined benefit pension plan and 4 weeks’ vacation, plus Wellness Days.
- Three options available for your health and dental coverage
- Employee and Family assistance program (wellness support)
- Basic group life insurance
- Voluntary group life insurance
- Critical Illness insurance
- Sick leave plan – 100% of pay for a period of a maximum of 8 weeks.
- Long term disability plan
- Pension plan – defined benefit pension plan that pays a benefit to you or your beneficiary upon termination, death, or retirement.
Employing a hybrid working model, this role combines on-site in office work (2 days a week) with work from home flexibility.
Only candidates legally entitled to work in Canada will be considered for this position.
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