Financial Analyst

Position Overview

Reporting to the Director, Reinsurance Accounting, the Financial Analyst plays a key role in financial reporting, business analysis, and reinsurance accounting activities for Munich Re's North American entities. This position is responsible for supporting the financial close process, preparing management and profitability reporting, analyzing financial results, and driving process improvements through automation and technology solutions.

The successful candidate will work closely with Finance, Actuarial, Claims, Operations, and IT teams to deliver accurate financial information and meaningful business insights that support decision-making..

Your Role:

Reinsurance accounting and analysis:

• Support the accounting and reporting of premiums, commissions, claims, and other reinsurance-related transactions.
• Perform reconciliations, investigate variances, and help resolve financial reporting issues.
• Prepare profit commission calculations and reporting to support client settlements.
• Assist with maintaining accounting controls and supporting governance requirements.
• Monitor financial and operational results, identify trends, and support process improvements.
• Help develop and document accounting and reporting processes for new business and contracts.
• Support internal and external audits and respond to information requests.

Management reporting and analysis:

• Prepare and analyze business performance reports for internal stakeholders.
• Contribute to client profitability analysis and management reporting.
• Support quarterly reporting processes, including premium estimates, claims estimates, and other client-related balances.
• Assist with forecasting and reporting actual financial results.
• Perform ad hoc financial analysis to support business initiatives and decision-making.
• Collaborate with teams across Pricing, Claims, Actuarial, Reinsurance Operations, and IT.

Financial Systems, Special Projects & Other          

• Participate in user testing for financial system upgrades and enhancements.
• Support automation initiatives that improve financial reporting and operational efficiency.
• Assist with the implementation of new reporting and analytical tools.
• Identify opportunities to streamline processes and enhance reporting capabilities..

Your Profile:  

• Bachelor's degree in Accounting, Finance, Commerce, Business, or a related field.
• 3+ years of accounting, financial reporting, or financial analysis experience.
• Currently pursuing CPA designation.
• Insurance or reinsurance industry experience is considered an asset.
• Insurance-related coursework or certifications are considered an asset.
• Advanced Excel skills with experience analyzing and reconciling financial data.
• Strong proficiency in Microsoft Office applications.
• Experience with Oracle, Power BI, SQL, or PSQL is considered an asset.
• Strong analytical, problem-solving, and organizational skills.
• Ability to manage multiple priorities and meet deadlines in a fast-paced environment.
• Continuous improvement mindset with an interest in automation and process optimization.
• Excellent communication and relationship-building skills with the ability to work effectively across teams.

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

Our base salary range for this role is between $80,000 and $90,000 per year, plus an opportunity for an annual company bonus based upon a percentage of eligible pay. The salary estimate displayed represents the typical salary range for candidates hired in this position. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to internal equity.

This role is located in our Toronto office on 390 Bay St, and we operate in a hybrid work model. This job posting is for an existing vacancy. 

We do not use AI in our recruitment process - applications are reviewed by our team to ensure a fair and personalized experience.

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.