The Ontario Pension Board (OPB) administers the Public Service Pension Plan (the PSPP), a major defined benefit pension plan sponsored by the Government of Ontario. With 100,000 members and $34 billion in assets, the PSPP is one of Canada’s largest pension plans. It is also one of the country’s oldest, successfully delivering the pension promise since the early 1920s.

OPB uses innovative solutions and strategies to protect members’ retirement security by ensuring the long-term sustainability of the Plan and deliver superior, cost-effective service to clients and stakeholders.

Through their Advise & Protect mission, OPB provides clients with the information and assistance they need to make well informed pension decisions and effectively plan for retirement with security and dignity – a responsibility they take seriously. OPB takes pride in being a leader in the pension industry and a trusted advisor to their clients and stakeholders.

For more information about the Ontario Pension Board, please visit: https://www.opb.ca

OPB is seeking a strategic leader with exceptional financial acumen, data intelligence, and stakeholder management skills to lead funding strategies oversee the actuarial services function and drive the advancement of data analytics practices across the broader organization.

Reporting to the Executive Vice President & Chief Pension Officer, this role will serve as a key advisor to the executive leadership team in complex funding and design discussions, bringing expertise and experience to bear on developing recommendations for funding strategies and plans to ensure long-term plan sustainability. It is also responsible for the oversight of a hybrid model of actuarial services, facilitating a trusted, working relationship with the internal actuarial function and external actuarial partners and driving the actuarial strategy and plans.

Working in close partnership with leaders and business partners across OPB, the Executive Director will utilize their expertise in data science to develop and build out the organization’s data analytics function, which will be essential to support decision-making for strategic business initiatives such as pension consolidations and pension modernization initiatives.

• Develop and implement funding strategies, plans and associated metrics, collaborating closely with internal and external partners to balance the interests of the plan sponsor, members, regulator, and other key stakeholders.
• Analyze funded status, outlook, and risk, and develop recommendations for contribution and plan design changes where appropriate; lead funding studies and ongoing analysis, such as the Annual Actuarial Valuation, Experience Studies, Long-Term Funding Studies, and Funding Risk Studies, as well as support the Chief Pension Officer and Chief Investment Officer in conducting Asset/Liability Studies.
• Oversee the in-house actuarial team and their delivery of actuarial services: data for going concern and solvency valuations, forecasting, sensitivity analysis and benefit costings, negotiations with other pension plans; metrics to determine, analyze, and forecast PSPP membership trends and impacts to demographics and funding; and technical actuarial support for OPB teams and staff as required.
• Provide strategic direction and guide the relationship with external actuarial advisors, building upon the existing trusted partnership, overseeing work strategies and plans, and ensuring actuarial standards of best practice and interests of OPB are met.
• Serve as a key advisor to the executive leadership team on funding and actuarial matters and oversee the preparation of materials for the Board of Directors and present to senior leadership.
• Build and lead a high-performing data analytics function to enhance data accuracy, efficiency and insights to support organizational decision-making.
• Develop, and oversee enhanced data analytics, including various data methods, techniques, models and business intelligence tools.
• Stay informed on industry trends, best practices, and emerging risks, and develop relationships with external partners and peer plan contacts.

• Comprehensive leadership experience and expertise in financial strategy, and/or actuarial services, within a financial services environment or financially complex agency or ministry of government.
• Strong financial acumen and understanding of funding models and actuarial practices.
• Significant exposure to and experience in data analytics ideally including having built out a data analytics function in the past.
• Superior leadership capabilities to effectively lead and motivate a team, with experience coaching towards high performance and promoting a culture of accountability and continuous improvement.
• Excellent interpersonal skills; enjoys building trusted partnerships in a highly collaborative work environment and fostering relationships across a broad range of internal and external partners and stakeholders including senior leadership, the Board of Directors, and the government.
• Highly effective communication skills, including superior written, verbal and presentation capabilities to communicate technical, complex concepts to audiences with varying degrees of pension and actuarial knowledge and experience.
• Excellent negotiation and influencing skills to champion ideas, identify trade-offs, build consensus, and support decision makers in complex multi-stakeholder environments.
• Strong orientation for risk management and demonstrated ability to identify risks, report on issues, recommend solutions and effective resolution of potential gaps.
• Exceptional analytical skills to identify, develop, and implement enhanced data analytics practices, including expertise in data analytics tools, technologies, and methodologies.
• Strong project management skills to oversee the delivery of concurrent and time-sensitive priorities and initiatives in a fast-paced environment of competing interests.

• A degree in actuarial sciences, data science, finance, business or related discipline.
• Associate or Fellow of the Canadian Institute of Actuaries or the Society of Actuaries, with actuarial experience in the pension industry.
• Experience working with defined benefit pension plans.
• Understanding of the public sector environment, government processes, and regulatory frameworks.

OPB is committed to fostering a culture of diversity, equity, and inclusiveness that reflects the diverse communities we serve, and welcomes and encourages applications from those who may contribute to the further diversification of ideas. OPB is committed to providing accommodation for people with disabilities in its recruitment process. Please advise LHH Knightsbridge if you require accommodation, and we will work with you to meet your needs. The successful candidate being considered for this position will be required to submit to a background screening.

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