Actuarial Associate/Senior Actuarial Associate, Structured Re & Longevity

Position Overview

This position will play a significant role in evaluating and pricing new reinsurance transactions in our fast growing longevity and structured reinsurance line of business. Specifically, you will be responsible for evaluating reinsurance opportunities, collaborating internally and externally to establish new partnerships, and helping manage a growing book of multi-line business;

This position requires substantial technical expertise and problem solving skills, and experience pricing and modelling individual life insurance, group and individual annuities, and group benefits is preferred. 

You’ll have the opportunity to work on high-impact projects including executing growth strategies, market research, developing novel reinsurance solutions and quoting on large transactions.

Your Role:

Transaction Pricing

• Work closely with head of department and pricing team to evaluate and quote on reinsurance opportunities which may include non-traditional reinsurance and structured solutions, pension risk transfer, inforce block transactions, and product development.  Specific tasks performed may include:  
• Evaluating RFP material, product information, quote data analysis, underwriting and subject business due diligence.
• Building and maintaining pricing models, supporting development of assumptions used for reinsurance quotes.
• Collaborating with other teams such as biometric research, corporate actuarial, and risk management to achieve a deep understanding of key risks and obtaining quote approvals.
• Presenting pricing results to key stakeholders including head of department and senior management.

Business Management

• Pricing process improvements through the continual refinement of models and methodologies used in the support of pricing and monitoring of business.
• Monitor profitability and business performance to create feedback loop for future pricing and assumption updates.
• Support repricing and renewals of existing transactions, as required per the treaty terms.
• Support execution and onboarding of transactions including drafting treaties, coordinating with corporate actuarial and accounting functions on reinsurance administration and reporting.

Special Projects

• Support business development activities in preparing material to demonstrate Munich Re’s expertise in various topics and partnership opportunities.

Your Profile:  

• University Degree in Actuarial Science, Statistics, or Mathematics.
• ASA designation, pursuing FSA designation.
• Minimum 2 years experience in the Life Insurance/Reinsurance
• Pricing experience preferred
• Advanced Software/application knowledge including Excel, PowerPoint, Word, Axis and SQL.
• Strong analytical, modeling and problem solving skills
• Excellent communication and presentation skills
• Ability to conceptualize and implement business solutions regarding actuarial issues
• Aptitude and interest in acquiring new skills and supporting others through knowledge transfer

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
• 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 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.