Manager & Actuary, Corporate Actuarial (Capital Strategy)

Position Overview

Join Munich Re’s Corporate Actuarial team to accelerate your actuarial career through mastery of reinsurance valuation and reporting methods. You will regularly work with other actuarial teams such as Pricing, Accounting, Biometric Research and ERM, while deepening your expertise and exposure to LICAT, IFRS17, and various assignments and projects.

You demonstrate a consistent need for achievement, a strong work ethic and a drive to make a difference. You are also an excellent communicator and thrive working in a high-performing and client focused environment with a desire to make an impact. You have the ability to learn quickly, synthesize and implement solutions, and explain technically challenging concepts to other actuarial teams and senior management. If this sounds like a challenge, this is the right role for you.

Under the direction of Director, Corporate Actuarial, the successful candidate will assist in the production of financial information related to valuation, solvency and planning, which may include but is not limited to the examples below.

 Your Role:

• Lead and support strategic capital initiatives, including value creation through capital optimization, capital support for large transactions, and management of our retrocession program.
• Communicate and present results to key internal stakeholders, with potential exposure to Corporate and ERM senior management teams. 
• Support the model and assumption change process, which includes monitoring our biometric assumption experience and proposing changes in the valuation assumptions as needed.
• Monitor the branch’s capital needs, which includes assessment of any proposed changes from OSFI, quantifying market movements and insurance risk impacts.
• Assist as required in the preparation and analysis of IFRS 17 reserves, OSFI exhibits (Reserves, Movement, Volumes), and the LICAT (LIMAT) return.
• Conduct analysis as required to understand and explain financial results, such as reserve movements and source of earnings analysis.
• Ensure a clear understanding of corporate and departmental objectives while providing guidance, training and mentorship to junior employees.
• Collaborate with and support other departments such as Pricing, ERM, Accounting, and Tax as needed.

Your Profile:  

• University Degree in Actuarial Science, Finance, Statistics, or Mathematics.
• FSA/FCIA qualification
• Prior experience in the Life and Health insurance/reinsurance industry.
• Strong analytical and financial modeling skills. Comfortable working with fairly complex calculations.
• Superior attention to detail and accuracy.
• Strong problem solving and organization skills.
• Excellent communication skills as demonstrated in general conversation, clear, complete responses to internal and external clients, formal presentations and written documents.
• Ability to establish and maintain good working relationships with other departments.
• Demonstrated flexibility and effectiveness working under tight timelines.
• Demonstrated ability to adapt in a dynamic environment.
• Advanced Excel, Word, Access.
• Experience with AXIS and Datalink; SQL

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

Our base salary range for this role is between $168,625 and $195,250 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.