Title:  Actuarial Associate, Individual Reinsurance Solutions

Position Overview

• Member of the Individual Reinsurance Pricing team, supports the pricing, analysis and modelling of reinsurance solutions for the Life and Critical Illness lines of business.
• Works closely with peers, actuaries, and other key individuals from the Toronto and Montreal offices.
• Assists with the development of assumptions and building of actuarial models for Individual Life or Critical Illness business, enabling the delivery of quality quotes on time. 
• Supports the delivery of work requirements to more senior actuarial members and internal clients, while managing expectations and delivering results and documentation

Your Role:

• Build models in AXIS to appropriately price products and determine profitability metrics.
• Analyze profitability by comparing to past/comparable quotes and existing profit targets.
• Assist with the development of actuarial assumptions (distributions, experience adjustments, etc.), for client products to be used in pricing of Individual Life and Critical Illness business.
• Collect and analyze both internal and external data to support assumption development processes for reinsurance.
• Support the maintenance and updating of pricing management models, and analyze results from these models to report on overall portfolio profitability.
• Participate in the enhancement of pricing methodologies by developing tools for potential improvements of the day-to-day process and pricing methods.
• Contribute to technical aspects of ad-hoc requests and projects, working with other team members or internal stakeholders.
• Assist with the pricing of facultative quotes to deliver results and recommendations within a tight turnaround time.

Your Profile:  

• University Degree in Actuarial Science, Finance, Statistics, or Mathematics.
• Actively progressing towards attainment of ASA, ACIA, FSA, or FCIA.
• Entry-level actuarial position, open to new graduates or professionals with 0-2 years of actuarial experience
• Fast learner with strong analytical, organizational, and problem-solving skills.
• Strong ability to adapt in a dynamic environment and work effectively under tight timelines.
• Strong communication skills as demonstrated in general conversation, formal presentations, and written documents.
• Proficiency in Excel, Word, Access, PowerPoint, and SQL is preferred.
• Experience using GGY AXIS and Datalink is an asset.

About Munich Re

Together, we engage with everything we have and are, to help humankind act braver and better.

As the world’s leading reinsurance company with more than 40,000 employees in over 50 locations around the globe, Munich Re introduces a paradigm shift in the way you think about insurance.  By turning uncertainty into manageable risk, we enable fundamental change.  We recognize Diversity, Inclusion, and Belonging as a key priority with a culture that welcomes different thoughts and opinions.  We dare to think big and are continuously innovating on behalf of our clients.

Our data, our technology, and our teams place us in a unique position to drive transformative change in the life insurance industry.  We invest strategically in our world class talent, offering our employees a work experience that promotes professional development, innovation, and rewards high performance.

What Can We Offer You?

We are pleased to offer our employees great benefits and resources to support their mental, physical and financial wellbeing. These include:

• An engaging and collaborative environment that promotes continuous learning and development
• A hybrid work environment that combines weekly in-office and remote days with Meeting-Free lunch hours and Focus Friday afternoons
• A great compensation package including annual company bonus
• Market leading company-paid flexible health and dental benefits, starting on your first day
• Flexible dollars provided by the company to put towards Health Spending Account and/or Wellness Spending Account
• Immediate participation in DC Pension Plan with an automatic 5% employer contribution, plus optional company match
• Generous time off including vacation, personal days, unplanned time, Statutory Holidays and company-wide early closure half-days
• Learning and development programs and resources, including unlimited access to LinkedIn Learning, Education Assistance Program and reimbursement for professional fees
• Maternity, Parental & Adoption Leave top-up program
• Employee Referral Program, Recognition & Rewards Platform

Please note that only candidates who are selected for interview will be contacted directly. We thank all candidates for their interest.

Munich Re is committed to providing a work environment that is inclusive and free of employment barriers and discrimination. Accommodations will be made for qualified applicants with a disability throughout the recruitment process. If you receive a request for an interview and you have a disability which will require an accommodation to support your participation, please contact AODARequestHR@munichre.ca as soon as practical so that suitable accommodations can be arranged.