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Manager, Economic Capital – Wawanesa – Winnipeg, MB

Wawanesa Insurance is one of the largest property and casualty insurers in Canada. Wawanesa Mutual, founded in 1896 with executive offices in Winnipeg, is the parent company of Wawanesa General, which offers property and casualty insurance in California and Oregon, and Wawanesa Life, which distributes life insurance products and services throughout Canada. With over 3,000 employees, Wawanesa proudly serves over two million policyholders, who are our owners. As an employer, we provide an environment that is respectful, challenging and rewarding. As a corporate citizen, we actively give back to organizations that strengthen communities where we operate, donating well above internationally recognized benchmarks for excellence in corporate philanthropy.


Our Enterprise Risk Management Department is continuously working towards enhancing economic capital modeling in support of new strategic initiatives. These initiatives have led to rapid company growth and the creation of new roles within the Internal Audit Department at our Executive Office. We are seeking experienced candidates that are interested in joining a team of motivated and skilled risk professionals. If you want to be challenged and offered opportunities to grow, consider this the next exciting and challenging step in your career!


Wawanesa is a policyholder owned mutual insurance company experiencing exciting transformation and growth and offers employees Career progression down a wide variety of paths! We are currently looking for dedicated, driven, and enthusiastic individuals who will thrive in an environment which welcomes change.




Working under minimal supervision, the Manager, Economic Capital is responsible for the development, calibration, documentation and validation of economic capital modeling, stress testing and capital forecasting while working collaboratively with other business functions to promote the integration of capital modeling with business.




  • Leads the effort to develop and maintain Economic Capital Model (ECM) and related analytics, which includes identification of stress scenarios, capital analysis (regulatory and economic basis), stress testing and capital forecasting.
  • Analyzes the capital impact of reinsurance, investment and strategic activities
  • Participates in the ongoing development, implementation and enhancement of various ERM / ORSA-related processes related to capital
  • Provides guidance and training to direct reports involved in the modelling process ensuring best practices are being followed including model development and output review
  • Reviews and assesses model validation plans and processes using a variety of techniques such as statistical and analytical testing, estimation methods, benchmark methodologies, and accuracy checks to determine the reasonableness of results
  • Designs, implements and tests valuation/financial models to ensure Wawanesa is operating within its risk appetite and material risk tolerances and report material findings
  • Creates presentations on ORSA, ECM and stress testing, as needed
  • Promotes the concept of ECM, and acts as the main contact in the ERM team to coordinate with various departments for implementation in the development, calibration and documentation of quantitative methodologies
  • Prepares appropriate documentation consistent with professional actuarial standards and in compliance with all applicable legislation
  • Performs other duties as assigned




  • Five years’ experience in risk management, actuarial or investment practice that would ideally include: Capital Model Development, Financial Reporting, Dynamic Capital Adequacy Testing.
  • Post-secondary education in Actuarial Mathematics, Statistics, Mathematics, Finance, Economics or other related field of study.
  • Strong analytical, critical thinking and problem solving skills with the ability to effectively resolve complex situations and issues.
  • Strong knowledge of core functions of an insurance company and general insurance; in depth knowledge of P&C risks, including insurance and financial risks.
  • Strong knowledge of Microsoft Office Suite and other business-related software systems, including processing systems and applications, hardware and software tools, programming languages, computer modeling, and spreadsheet applications.
  • Strong interpersonal, communication and presentation skills.
  • Ability to effectively interact with all levels of internal and external business partners.
  • Ability to identify when something needs to be done and initiates action as required
  • Adapts to change effectively
  • Ability to develop and implements comprehensive plans that bridge complex issues and span across time
  • Strong leadership skills with the ability to develop and communicate a vision
  • ACAS/FCAS, ACIA or FCIA or MS/MBA designations an asset


\Wawanesa provides its employees with an environment conducive to achieving their goals for personal performance and career development. Our employees are provided with highly competitive compensation packages (salaries, profit sharing, benefits and a defined benefit pension plan). The benefit package is comprehensive and far ranging. Wawanesa provides a stable and rewarding environment for its employees in today’s challenging markets.


If you are interested in this exciting, challenging position with Wawanesa, you can view a more detailed job description and apply online at www.wawanesa.com by April 6th 2018.


Date Posted: 2018-03-07 Expires: 2018-04-06