Michael McDonald

Michael entered the life insurance industry in 2003, working for two major US insurance carriers with a focus on the valuation and risk management of insurance products. For the last fifteen years, he has worked as an AXIS modeling consultant specializing in life and health insurance products that include traditional life, annuity, disability, long-term care and universal life as well as various reinsurance blocks. In addition to liability models, he also has expertise in asset and ALM modeling.

Some of his accomplishments include:

• Implementing an automated E2E LDTI solution for a US insurer, leveraging AXIS, EnterpriseLink and SQL database processes
• Managed various IFRS 17 implementation work streams for one of the largest Canadian insurers
• Developing IFRS 9 asset models to support the explanation of investment results for large Canadian insurer
• Working with a large global reinsurer to develop and implement their model transformation initiative for their US operations
• Leading a workstream in an actuarial system transformation for a global insurer to improve governance, flexibility and efficiency of E2E reporting processes
• Implementing a best practices valuation framework for a mid-sized Canadian insurer
• Converting valuation models to AXIS for various lines of business, including variable annuity, traditional life, long-term care, universal life and equity index annuity
• Building spot-checking spreadsheets for clients that replicated projection and reserve calculations (US GAAP/US Stat) from their production models
• Developing best practices change management protocol related to AXIS model development
• Developing a nested stochastic model that projected hedge cash flows and was a key tool in analyzing hedge effectiveness for a US insurer