Shape the future of Canadian life insurance by translating complex product requirements into practical, configuration-ready solutions.

The Role

Capco is seeking an experienced Senior Business Analyst / Functional Lead to support the implementation and configuration of a Policy Administration System (PAS).

In this role, you will lead the definition, analysis and documentation of functional requirements across Canadian annuities, segregated funds and permanent life insurance products.

Working collaboratively with business, actuarial, operations and technology teams, you will translate complex product specifications, regulatory requirements and operational processes into clear, configuration-ready requirements that support successful implementation and ongoing policy administration.

This opportunity is ideal for someone who brings deep Canadian insurance product knowledge, experience with PAS implementations and a collaborative approach to functional delivery.

What You’ll Do

Lead Requirements Definition: Facilitate discovery workshops and lead requirements analysis, documentation, validation and traceability across business, actuarial, operations, technology and delivery teams, ensuring alignment throughout the implementation lifecycle.
Shape Annuity Solutions: Define functional requirements for Canadian immediate and deferred annuities, including single life, joint and survivor, term certain, guarantee periods, registered and non-registered arrangements, pension and locked-in products, alongside quotation, premiums, payouts, commutations, taxation and beneficiary administration.
Define Segregated Fund Capabilities: Document requirements for segregated funds and Individual Variable Insurance Contracts (IVICs), covering fund setup, unit valuation, allocations, switches, withdrawals, fees, resets, maturity and death-benefit guarantees, and beneficiary processing.
Support Permanent Life Insurance Products: Translate Whole Life, Participating Whole Life and Universal Life product requirements into functional specifications, including premiums, cash values, dividends, investment accounts, cost-of-insurance charges, policy loans, withdrawals, lapses, reinstatements and illustrations.
Enable PAS Implementation: Translate business and product requirements into PAS configuration rules, calculations, data specifications, integrations, acceptance criteria and end-to-end test scenarios, while supporting solution design, configuration validation, defect resolution, data conversion and implementation readiness.

What We’re Looking For

Significant experience as a Senior Business Analyst or Functional Lead within the Canadian life insurance, annuities or wealth management sector.
Demonstrated experience defining detailed product and functional requirements for Canadian annuities, segregated funds, Universal Life or Whole Life insurance products.
Strong understanding of Canadian insurance policy administration, taxation, regulatory requirements, disclosure obligations and ongoing servicing processes.
Experience supporting Policy Administration System configuration and implementation initiatives, including translating business requirements into functional specifications and supporting testing activities.
Effective stakeholder engagement, workshop facilitation, analytical problem-solving and functional leadership skills, with the ability to collaborate across multidisciplinary teams.

Bonus Points For

Hands-on experience with Policy Administration System configuration or implementation projects.
Exposure to multiple Canadian insurance product lines, particularly annuities, segregated funds and permanent life insurance.
Experience working closely with actuarial teams to interpret product calculations, valuation rules and policy administration requirements.
Knowledge of insurance data migration, system integration, reconciliation and end-to-end testing within PAS transformation programs.
Experience supporting complex insurance technology transformations in a consulting or cross-functional delivery environment.