Actuarial Associate, North American Model Development (Valuation)

Munich Re; Toronto; Hybrid; CAD 70,000 - 100,000; Full time

Job summary

Join a leading reinsurer in a role focused on developing AXIS models for Life & Health Reinsurance. Collaborate with various teams and enhance your skills while contributing to a culture of innovation and inclusion. This position offers great benefits, a hybrid working model, and opportunities for professional growth.

Benefits

Hybrid work environment

Market leading health and dental benefits

Generous time off

Unlimited access to LinkedIn Learning

Maternity, Parental & Adoption Leave top-up program

Qualifications

• 1+ years of actuarial experience in insurance/reinsurance industry.
• Ability to adapt in a dynamic environment.
• Flexibility and effectiveness under tight timelines.

Responsibilities

• Design, implement, test, and quantify model enhancements for financial reporting.
• Present technical modeling changes and financial results to Corporate Actuarial.
• Support other departments like Corporate Actuarial, Pricing, and ERM.

Skills

Analytical skills

Problem solving

Organization

Attention to detail

Communication

Education

University Degree in Actuarial Science, Finance, Statistics, or Mathematics

Progression to ASA and/or FSA

Tools

SQL Server

AXIS

Datalink

Excel

Power Query/BI

Job description

Position Overview

As part of the Corporate Actuarial team, you will develop and use leading-edge AXIS models designed for analysis and reporting for the Life & Health Reinsurance business in Canada and the US. You will regularly work with actuarial and non-actuarial teams such as the Pricing, Global Actuarial Consulting Group, Biometric Research, Enterprise Risk Management, Reinsurance Operations, and Business Transformation. You will have the opportunity to work on various lines of business: Individual Life, Disability Income, Critical Illness, Long Term Care, and Group; allowing for growth in product knowledge, risk exposure, and traditional and non-traditional reinsurance structures.

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 with various model development initiatives within the North American Model Development team, which may include but is not limited to:

• Design, implement, test, and quantify impacts of model enhancements, new AXIS functionality, process improvements, and modeling changes required for financial reporting
• Implement new treaties and other pricing based models into the valuation standard model. Analyze impacts to financial reporting as well as pricing metrics
• Present technical modeling changes and financial results to Corporate Actuarial
• Maintain the North American Valuation modeling standards and adapt to emerging industry best practices in model design, data & assumption management
• Ensure models, processes and systems are fully documented and that control processes are completed each quarter under the risk control framework
• Establish a clear understanding of corporate and departmental objectives
• Collaborate with and support other departments such as Corporate Actuarial (Valuation Reporting), Pricing, ERM, Biometric Research, Reinsurance Operations, and Business Transformation as needed
• Contribute to company-wide projects to enhance understanding and produce efficiencies.

Your Profile:

• University Degree in Actuarial Science, Finance, Statistics, or Mathematics
• Progression to ASA and/or FSA
• 1+ years of actuarial experience in insurance/reinsurance industry
• Experience with SQL server, AXIS and Datalink, Excel, Power Query/BI
• Strong analytical, problem solving and organization skills
• Superior attention to detail and accuracy
• 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
• Flexibility and effectiveness working under tight timelines
• Demonstrated ability to adapt in a dynamic environment.

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 [e-mail] as soon as practical so that suitable accommodations can be arranged.