Title:  Senior Actuarial Associate - Corporate Actuarial

Position Overview

Join Munich Re’s Corporate Actuarial team to accelerate your actuarial career through mastery of reinsurance valuation and reporting methods. You will develop and use leading-edge models designed for analysis and reporting for the Life & Health Reinsurance business in Canada and US. You will regularly work with other actuarial teams such as Pricing, Accounting, Biometric Research and ERM, while deepening your expertise and exposure to new concepts such as LICAT and 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.  

Your Role:

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: 

• Preparing IFRS reserves, OSFI exhibits, and the LIMAT return.
• Ensuring tests and analysis are completed to fully verify accuracy, such as reserve movements and source of earnings analysis
• Explain the quarterly movement of results through well-written summaries and Q&A sessions. Preparation of reports for management, regulators and the head office.
• Implementing modifications and enhancements to existing systems/processes for new requirements identified as a result of new products, changing regulations and/or the need to streamline processes.
• Preparation and/or consolidation of cash flows for FCT, Business Projections, IFRS 17, Asset-Liability matching, Solvency II Reporting, Value of New Business.
• Monitoring capital needs, which includes assessing any proposed changes from OSFI, interpreting new guidelines and ensuring periodic regulatory capital returns are completed efficiently.
• Maintaining, enhancing and fully documenting models and systems used for financial reporting
• Collaborating with and supporting other departments such as Pricing, Accounting, Reinsurance Operations, ERM as needed

Your Profile:  

• University Degree in Actuarial Science, Finance, Statistics, or Mathematics.
• FSA or Progression towards FSA.
• 3+ years actuarial experience in the Canadian Life and Health insurance/reinsurance industry.
• Experience with AXIS and Datalink; SQL
• 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
• Ability to establish and maintain good working relationships with other departments.

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.