Actuarial Associate, Risk Management - 12 Month Contract

Munich Re; Toronto; Hybrid; CAD 60,000 - 100,000; Full time

Job summary

Join a forward-thinking company as an Actuarial Associate in Risk Management, where you will play a crucial role in enhancing the efficiency of risk monitoring processes. This exciting opportunity involves collaborating with internal and external stakeholders, preparing comprehensive risk reports, and supporting climate-related risk initiatives. You will be part of a dynamic team that values communication and strategic thinking, allowing you to develop your skills in a hybrid work environment. If you are passionate about making a positive impact and growing your career in the actuarial field, this role is perfect for you.

Benefits

Challenging projects

Development opportunities

Hybrid work environment

Inspiring workplace setting

Qualifications

• 3+ years in property & casualty industry with experience in financial forecasting.
• Strong analytical skills and attention to detail are essential.

Responsibilities

• Support enterprise risk framework and prepare quarterly Risk Reports.
• Assist in capital planning and regulatory financial disclosures.

Skills

Analytical Skills

Communication Skills

Interpersonal Skills

Problem-Solving Skills

Attention to Detail

Strategic Thinking

Education

Bachelor’s Degree in Actuarial Sciences

ACAS/ACIA Certification

FCAS/FCIA Certification

Tools

MS Word

MS Excel

Visual Basic

PowerPoint

SAS

SQL

R

Python

Power BI

Risk Explorer

Job description

Company
Munich Reinsurance Company of Canada
Location
Toronto, Canada

We care for humankind – and that starts with our people

Our greatest strength lies not in what we do – but how we do it. It’s the unique individual behind every piece of work who matters the most. Our people make Munich Re a global success. Working at Munich Re gives us access to the depth, breadth, and mindset we want in order to develop our full potential. That’s why a career at Munich Re is much more than just a job. It’s an invitation to be your very best and make a positive impact on the world.

Overview
Do you enjoy building relationships and working collaboratively in a team environment with both internal, external, and global stakeholders? Do you possess strong analytical and investigative competencies? As someone with excellent communication skills and business acumen, you will utilize exceptional interpersonal and influencing skills across all levels of the organization.

We’re looking for our next Actuarial Associate, Risk Management. Could It Be You?

Under the direction of Assistant Vice President, Risk Management, the Actuarial Associate will support and enhance the efficiency of the ongoing monitoring of the enterprise risk framework for Munich Re Canada (Non-life), including quarterly risk reporting, the Financial Condition Testing (FCT) analyses, as well as the Own Risk Solvency Assessment (ORSA), ORCS, and retrocession processes for both primary and reinsurance business.

• Assist in the preparation of quarterly Risk Reports including an overview of the solvency position under Solvency II and the local MCT capital requirements.
• Support the FCT analyses, including the selection of appropriate scenarios.
• Support all work on ORSA, Internal Target analysis, and Key Metrics Report.
• Support the retrocession/reinsurance renewal process, coordinating the inputs with other departments in the organization.
• Assist with other risk management work including capital planning, earthquake return, reinsurance risk management policy, and non-financial risk support (e.g. operational risk and controls, business continuity risk). Assist in preparing and enhancing Quarterly Board of Directors material as well as the preparation of FCT and ORSA Reports annually.
• Drive automation and complexity reduction and transition to streamlined processes to improve efficiencies and reporting.
• Develop a comprehensive understanding of financial data and IFRS 17 financial statements, working in tandem with the Finance department to gather and analyze capital planning inputs.
• Provide support for climate-related risk management initiatives and regulatory financial disclosures, in addition to meeting other regulatory requirements, including reviewing guidelines for compliance, engaging with discussion papers and questionnaires, and completing filings such as FCT, KMR, and EQ reports.
• Keep abreast of Canadian and International Property and Casualty industry knowledge and developments.
• Maintain a cooperative working relationship with all MR Canada departments and staff as well as external stakeholders such as MRM Risk Management (IRM), external auditors, and government regulators.

So are YOU our next Actuarial Associate, Risk Management? You are if…

First and foremost, we’re looking for well-rounded individuals who are professional, have great communication skills, and demonstrate the ability to build strong relationships with both internal and external clients. You’ll be joining an energetic and goal-oriented team that uses a collaborative approach to working within all areas of the company and focuses on achieving the greater objectives of Munich Re.

Specifically, we’re looking for the following qualifications:

• A Bachelor’s Degree in Actuarial Sciences or Equivalent.
• ACAS/ACIA (Associate of Casualty Actuarial Society/Canadian Institute of Actuaries) or equivalent actuarial credential is required.
• FCAS/FCIA (Fellow of Casualty Actuarial Society/Fellowship of the Canadian Institute of Actuaries) or equivalent actuarial credential is desired.
• Minimum of three (3) years of knowledge and experience in the property & casualty industry; Experience with financial forecasting, IFRS 17, and reserving is preferred.
• Superior attention to detail and accuracy.
• Excellent analytical and abstract reasoning skills.
• Strong communication and interpersonal skills.
• Keen strategic thinking, business acumen, and problem-solving skills.
• Ability to make technical decisions (e.g. modeling decisions, data decisions). Demonstrates sound judgment in actuarial/risk decision making.
• Well-developed organization skills, with the ability to analyze current processes and procedures and recommend and implement improvements.
• Ability to work independently and in a team environment.
• Ability to work with all areas of the company collaboratively to achieve results under tight deadlines.
• Ability to handle a number of diverse projects and coordinate the activities of others in a performance-oriented culture.
• Advanced Software/application knowledge including MS Word, Excel, Visual Basic, and PowerPoint.
• Knowledge in insurance-related databases, SAS, SQL, R, and/or Python is an asset.
• Knowledge of FCT, Power BI, and Risk Explorer are strongly desired.

Please note that this role is a 12-month contract opportunity with no guarantee, either expressed or implied, of full-time conversion.

In addition to an exciting job opportunity, we offer the following…

• You will be exposed to challenging projects and development opportunities to grow your skills and career with both local and global colleagues and partners.
• A hybrid work environment in an inspiring physical workplace setting.

Click on the link to apply…

Munich Re Canada 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.