Job Description
The Opportunity
The Director, Catastrophe Exposure Management is responsible for advancing enterprise risk insights and strengthening the company’s risk management capabilities, specifically as it pertains to the risk of financial loss from natural or man-made catastrophes. This role plays a critical part in shaping the organization’s understanding of catastrophe exposure, capital adequacy, and emerging risks — particularly climate risk — while ensuring alignment with regulatory and financial reporting frameworks, including IFRS 17.
The incumbent will partner closely with stakeholders across Capital & Treasury, Pricing, Underwriting, Reinsurance, and Enterprise Risk Management (ERM) to deliver a cohesive and forward-looking view of risk aggregation across the organization.
What To Expect
Catastrophe Risk & Exposure Management
- Design, implement, and continuously improve catastrophe monitoring and reporting frameworks to provide timely insights into the company’s risk exposure.
- Oversee the governance, quality, and evolution of the company’s exposure database, ensuring accuracy, completeness, and usability for modelling and decision-making.
- Integrate catastrophe risk insights into capital modelling, reinsurance strategy, and enterprise risk frameworks.
- Provide high-quality analysis and insight regarding anticipated budgets for future catastrophe losses in support of the company’s financial planning and forecasting processes
Climate Risk Modelling
- Lead the development of climate risk modelling capabilities, including assessment of long-term impacts on underwriting, capital, and financial performance.
- Partner with ERM and external stakeholders to incorporate climate scenarios into stress testing and strategic planning processes.
Reinsurance & Risk Transfer
- Support the reinsurance purchasing process through quantitative analysis, including program design, optimization, and evaluation of risk transfer effectiveness.
- Provide insights on retained risk and capital implications to inform reinsurance strategy.
Stakeholder Engagement & Leadership
- Serve as a key actuarial partner to Capital & Treasury, Reinsurance, and ERM teams, fostering strong cross-functional collaboration.
- Translate complex actuarial and risk concepts into clear, actionable insights for senior leadership.
- Lead, mentor, and develop actuarial talent, promoting a culture of innovation, accountability, and continuous improvement.
What You Bring
- Fellow of the Canadian Institute of Actuaries (FCIA) and/or Society of Actuaries (FSA) (or equivalent).
- 10+ years of progressive actuarial experience within P&C insurance, with strong exposure to catastrophe risk and enterprise risk management.
- Demonstrated experience in catastrophe modelling, exposure management, and reinsurance analytics.
- Experience with climate risk modelling or emerging risk frameworks is an asset.
Skills & Competencies
- Strategic Thinking: Ability to connect detailed actuarial analysis to enterprise-level strategy and decision-making.
- Leadership: Proven ability to lead teams and influence across functions.
- Analytical Excellence: Advanced quantitative and modelling capabilities.
- Communication: Exceptional ability to convey complex concepts to non-technical audiences.
- Collaboration: Strong relationship-building skills with cross-functional stakeholders.
Salary Range: $161,900 - $211,900
About Us
Actual salary for the role may vary depending on work location of the successful candidate and other factors including but not limited to, skills, education, experience, working conditions and the local labour market.
This position is being posted to fill an existing vacancy.
Interested in this role, but don’t meet every requirement? We encourage you to apply! We know from experience that a candidate doesn’t need 100% of the qualifications listed to bring incredible value to our team. We’re actively seeking diverse backgrounds and perspectives to help us make insurance better. At Definity, inclusion, diversity, and equity aren’t just “nice to have” — they’re essential to our success.
What’s in it for you?
- Hybrid work schedule for most roles
- Company share ownership program
- Incentive Program - Eligible employees may participate in various incentive plans which are paid out at the discretion of the company and subject to individual and company performance.
- Pension and savings programs, with company-matched RRSP contributions
- Paid volunteer days and company matching on charitable donations
- Educational resources, tuition assistance, and paid time off to study for exams
- Focus on inclusion with employee groups, support for gender affirmation surgery, access to BIPOC counsellors, access to programs for working parents
- Wellness and recognition programs
- Discounts on products and services
Go ahead and expect a lot — you deserve it.
It’s better here — but don’t take our word for it. Definity was named by Great Place to Work® as one of the Best Workplaces™ in Canada for women, for youth, and for inclusion.
Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know by contacting accessibility@economical.com.
This role requires successful clearance of background checks (including criminal checks and leadership references).
About The Team
Definity is the parent company to some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family Insurance Solutions, and Petline Insurance. Our ambition is to be one of Canada’s leading and most innovative property and casualty insurers. We can’t do that without our people, so we embrace and encourage a culture that’s collaborative, ambitious, rewarding, and empowering.
We offer a flexible, hybrid work experience where employees work from the office and virtually depending on the type of work they are doing and who they are working with. Bring your true self and be a part of our journey. It’s better here.
