Actuary

Munich Re; Toronto; Hybrid; CAD 80,000 - 120,000; Full time

Job summary

Munich Re is seeking an Actuary to oversee the development and maintenance of quarterly reserving and forecast analysis. This role involves leading reviews of claims liabilities, working with various teams, and providing insights for financial modelling. Candidates should hold a Bachelors’ in Actuarial Sciences and possess strong analytical skills, with at least five years of relevant industry experience.

Benefits

Comprehensive total rewards financial program

Flexible benefits and pension

Educational Assistance Programs

Challenging projects for skill development

Qualifications

• 5+ years of knowledge and experience in property & casualty industry.
• Experience with reserving and financial reporting preferred.
• Progressing towards FCAS/FCIA credential is ideal.

Responsibilities

• Lead the quarterly review of claims and premium liabilities.
• Deliver data for IFRS17 modelling and regulatory requests.
• Collaborate with Finance, Risk, Claims, and Underwriting teams.

Skills

Analytical skills

Problem solving

Interpersonal skills

Communication

Education

Bachelors’ Degree in Actuarial Sciences

ACAS/ACIA designation

Tools

SAS

SQL

Power BI

R

Python

Job description

Company
Munich Reinsurance Company of Canada
Location
Toronto, Canada

Actuary

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 Actuary. Could It Be You?
Reporting to the Vice President, Corporate Actuarial, the Actuary will manage development and on-going maintenance for quarterly reserving and forecast analysis for Munich Reinsurance of Canada (MROC) and Temple Insurance Company (Temple).

Need more details? Keep reading. You will…
• Lead the quarterly review of actual and forecasted claims and premium liabilities, including setting of assumptions and interpreting the financial results
• Drive automation and complexity reduction and transitioning towards new ways of collaboration
• Understand Munich Re Munich (MRM, head office) methodology used to generate cashflows, produce financials, and reserving inputs/assumptions required for MRM IFRS17 modelling.
• Delivers data/assumptions for MRM IFRS17 modelling and testing; analyze results of MRM testing/modelling.
• Provide insights to MRM regarding Canadian specific requirements, including The Office of the Superintendent of Financial Institution (OSFI) and Canadian Institute of Actuaries requirements.
• Support the continued development of local IFRS17 assessment tool, including sensitivity testing and comparison against MRM outputs.
• Provide data/analysis to respond to regulatory IFRS17 requests, including assisting in preparing and improving the efficiency in Appointed Actuary Report preparation annually.
• Lead regular communications with MRM, including drafting of topics and preparation of discussion material.
• Understand Temple & MROC financial data, working with Actuarial Reserving team to extract/obtain data as required.
• Understand Temple & MROC reinsurance structures and IFRS17 modelling implications, providing input to MRM as required.
• Work closely with other IFRS17 leads in Canada and external IFRS17 actuarial resources.
• Work closely with a number of teams, including but not limited to Finance, Risk, Claims, Underwriting, other international operations and Central Reserving in Head Office (Munich) for various financial reporting, modelling, and data assumptions/trends.
• Take an active role in development and roll out of local IFRS17 communication material with senior management.
• Keep abreast of global and Canadian Property & Casualty industry knowledge and developments, including any regulatory guidelines.
• Maintain a co-operative working relationship with all MR Canada department and staff.
• Maintain external working relationships with MRM, external auditors, and government regulators.

So are YOU our next Actuary? You are if…
• You ideally have a Bachelors’ Degree in Actuarial Sciences or equivalent
• You possess your ACAS/ACIA (Associate of Casualty Actuarial Society/Canadian Institute of Actuaries) designation or an equivalent actual credential as a requirement.
• Ideally, you are working towards your FCAS/FCIA (Fellow of Casualty Actuarial Society/Fellowship of the Canadian Institute of Actuaries) or equivalent actuarial credential
• You have a minimum of five (5) years of knowledge and experience in the property & casualty industry as well as experience with reserving; experience with reinsurance and financial reporting & forecasting is preferred.
• You possess keen strategic thinking, business acumen and problem solving skills;
• You have good communication, organizational, and interpersonal skills with a demonstrated superior attention to detail and an eye for accuracy;
• You have exceptional ability to make technical decisions (e.g. modeling decisions, data decisions), demonstrating sound judgement in actuarial decision making;
• You have the ability to work on a small team and build strong relationships with your colleagues;
• You possess excellent analytical and abstract reasoning skills.
• You have well-developed organization skills, with the ability to analyze current processes and procedures and recommend and implement improvements;
• You are able handle a number of diverse projects and coordinate the activities of others in a performance oriented culture;
• You demonstrate a high degree of flexibility and adaptability to changing environment and situations with an ability to work with all areas of the company collaboratively to achieve results under tight deadlines
• You have exceptional computer skills including Microsoft Office and other computer software, including MS Word, Excel and PowerPoint; ideally you have knowledge insurance related database, SAS, SQL, Power BI, R, and/or Python.

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 comprehensive total rewards financial program which includes extensive flexible benefits and pension.
• A hybrid work environment in an inspiring physical workplace setting.
• Educational Assistance Programs that continue to recognize your on-going success.

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