Manager, Actuary

OUR COMPANY BACKGROUND & CULTURE

UPP is the first pension plan of its kind in Ontario’s university sector, proudly serving over 46,000 members across six universities and nineteen sector organizations. Our purpose is to bring greater retirement peace of mind to the university sector by investing with integrity and serving members with care. As a sector-wide plan designed for growth, our doors are open to all Ontario universities.

UPP is recognized as one of Greater Toronto’s Top Employers for 2026. Together, we’re a team of progressive thinkers and agile doers operating within a fast-paced culture of collaboration and respect. We believe in bringing smart and capable people together to create, solve, and grow with a clear shared vision and values of integrity, inclusivity, ingenuity, and impact.

Our culture is intentionally welcoming and purposefully rooted in equity, diversity, inclusion, and reconciliation (EDI&R). We believe diverse teams, perspectives, and lived experiences contribute to better decisions and a better workplace.

As a pension plan, UPP approaches investing through a long-term lens to generate and safeguard value. Our commitment to investing responsibly accounts for material risks that impact our investment portfolio to generate sufficient risk-adjusted returns to meet the pension needs of our members.

Join us in building a bright future for our members, our organization, and each other.

THE ROLE

Initially reporting directly to the Senior Director, Actuary, the Manager, Actuary will play an important leadership role within UPP’s actuarial function by overseeing actuarial analysis and supporting the day-to-day delivery of actuarial and pension administration activities.

The role will support actuarial activities across two key streams within the actuarial function:

• The pension administration actuarial support stream, focused on operational actuarial support, complex pension calculations, interpretation of plan provisions, and pension administration oversight; and
• The core actuarial services stream, focused on funding, valuation, risk management, onboarding support, actuarial modelling, and long-term sustainability analysis.

These streams are led by separate Senior Directors, Actuary, and the Manager, Actuary will work closely with actuarial leadership across both areas to help ensure coordinated delivery, consistency in actuarial methodologies and interpretation, and effective execution of operational and analytical priorities across the actuarial function.

The Manager, Actuary will provide technical guidance, operational oversight, and mentorship to actuarial team members, including Senior Analysts, Analysts and Interns, while supporting actuarial initiatives related to pension administration, funding, valuation, onboarding activities, risk management, and strategic actuarial projects.

The Manager, Actuary will contribute to a broad range of actuarial activities including:

• Oversight and review of complex pension calculations and actuarial analysis;
• Development, maintenance, and governance of actuarial administration tools and processes;
• Actuarial modelling, funding analysis, and valuation support;
• Operational actuarial support for pension administration activities;
• Preparation and review of actuarial reports and governance materials;
• Onboarding and employer analysis activities;
• Support for actuarial and cross-functional initiatives; and
• Leadership, coaching, and development of actuarial team members.

The role will work closely with internal stakeholders including Pension Services, Corporate Finance, Investments, Legal, and Engagement and Outreach teams, as well as external actuarial advisors, consultants, auditors, and other professional service providers.

Given UPP’s collaborative and evolving environment, this role provides an opportunity to contribute to operational excellence, process improvement initiatives, actuarial governance practices, and the continued development of the actuarial function and broader team capabilities.

The successful candidate will bring strong technical pension actuarial expertise, experience across pension administration and valuation-related actuarial work, effective communication skills, and demonstrated ability to support and mentor team members within a collaborative environment.

This role is based in downtown Toronto in a hybrid work environment, allowing employees the flexibility to work remotely and in-office (minimum two days per week in-office).

This posting is for an existing vacancy.

SPECIFIC ACCOUNTABILITIES

The Manager, Actuary will be responsible for a variety of duties, including but not limited to the following:

Pension Administration Actuarial Support and Oversight

• Oversee and review complex or non-routine pension calculations including retirements, terminations, pre-retirement death cases, family law calculations, and other escalated member scenarios.
• Provide actuarial interpretation and guidance related to pension plan provisions, pension legislation, tax rules, and pension administration practices.
• Support the governance, maintenance, testing, enhancement, and validation of actuarial pension administration tools and off-system calculation processes.
• Collaborate with Pension Services, Legal, external administrators, and other stakeholders on complex administration matters and precedent-setting cases. Support quality assurance and validation activities related to pension
• administration calculations and system functionality. Identify opportunities to improve operational efficiency, strengthen controls, and enhance actuarial administration processes and practices.

Core Actuarial Services Support

• Manage and review actuarial analysis related to funding, valuation assumptions, demographic experience, funded status monitoring, and risk management activities.
• Support actuarial modelling, liability analysis, funding projections, and long-term sustainability analysis to support operational and management decision-making.
• Support the implementation of UPP’s internal liability modelling capabilities established by actuarial leadership.
• Review and contribute to actuarial reports, presentations, and governance materials prepared for management, committees, and external stakeholders.
• Coordinate and review actuarial analysis related to onboarding and growth initiatives, including pension provision comparisons, funded status analysis, and transition support activities.
• Research and assess actuarial, legislative, demographic, economic, and industry developments relevant to UPP and assess implications for actuarial operations and funding activities.
• Support implementation and enhancement of actuarial modelling processes, reporting capabilities, governance practices, and analytical methodologies.

Team Leadership and Development

• Provide day-to-day leadership, technical guidance, coaching, and mentorship to actuarial team members, including Interns, Analysts and Senior Analysts.
• Support workload coordination, prioritization, and review of actuarial deliverables across the team.
• Contribute to onboarding, training, knowledge-sharing, and continuous learning initiatives within the actuarial function.
• Foster a collaborative, accountable, and high-performing team environment.
• Support recruitment activities, resource planning, and team development initiatives as required.

Corporate and Cross-Functional Support

• Collaborate with Corporate Finance in support of annual financial reporting, actuarial disclosures, audit requests, and regulatory reporting requirements.
• Liaise with internal stakeholders across Pension Services, Investments, Finance, Legal, and Engagement teams to support integrated actuarial analysis and operational decision-making.
• Coordinate with external consultants, auditors, regulators, and professional advisors as required.
• Contribute to documentation, governance practices, process improvement initiatives, and operational effectiveness across the actuarial function.
• Support additional initiatives and special projects as required.

QUALIFICATIONS & EXPERIENCE

• Bachelor’s Degree in Actuarial Science, Mathematics, or equivalent quantitative discipline.
• ASA/ACIA required; progress toward FSA/FCIA or completion of fellowship designation is considered an asset.
• Approximately 6 to 9 years of relevant pension actuarial experience within a consulting firm, pension plan, or similar environment.
• Demonstrated experience supporting both pension administration and valuation-related actuarial work.
• Prior experience providing mentorship, technical oversight, or people leadership within actuarial teams is preferred.
• Strong technical proficiency with MS Excel and Microsoft Office applications.
• Experience with pension administration systems, actuarial valuation software, and actuarial modelling tools, ideally including strong working experience with ProVal.
• Familiarity with Ontario pension legislation, the Income Tax Act, and CIA standards of practice.Experience within a jointly sponsored pension plan or broader public sector pension
• environment is considered an asset.

EXPECTED COMPENSATION

The expected compensation for this role is an annualized base salary in the range of $85,600 to $135,600 . This range reflects the expected range for new hire base salaries and is subject to change and may be modified in the future.

You may also be eligible for a variable incentive depending on organizational, divisional and personal performance. The final total compensation offered will vary depending on your skills, experience and other factors.

LIFE AT UPP

Do work that matters. We are duty-bound to serve our members’ interests, and it’s a responsibility we don’t take lightly. That’s why we’ve ingrained sustainability in our work from day one—to ensure our members have a resilient future to retire into, both today and for generations to come.

Stronger together. Collaboration is how UPP was born, and it’s how we work with each other and our partners day in, day out. No one at UPP is just a number (even if they are excellent at math) and every win is a shared win.

Grow every day. You’ll have the opportunity to work on unique, once-in-a-career projects that maximize your skill set and probably teach you some new ones—at any stage in your career.

Prioritize wellness. At UPP, wellness takes many forms. Ultimately, it’s about ensuring our people are cared for in the ways that matter to them. Check out some highlights of our inclusive employee-focused benefits program including:

• Defined benefit pension plan
• Flexible hybrid work model
• Paid time off – vacations, personal days and wellness days
• Work remotely up to eight weeks/year
• Comprehensive group benefits including medical, dental, vision, etc.
• Extended paramedical and mental health service coverage
• Health care and lifestyle spending accounts
• Fertility treatments, paid parental leave, and gender affirmation coverage
• Education Assistance program

This posting will remain open for a minimum of seven (7) days and will remain open until a sufficient number of qualified applications are received or finalist candidates have been identified.

Artificial intelligence (AI) tools may be used to support certain stages of the recruitment process, including sourcing, screening, and assessment. All hiring decisions involve human review and intervention by UPP employees.

UPP enthusiastically welcomes applications from all qualified applicants and especially invites people with lived experience as an Indigenous person, a person with a disability or as a member of another Human Rights Code protected group that faces barriers to employment to apply. Our goal is to create a barrier-free experience for every candidate throughout the recruitment process.

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