Non-Financial Risk Specialist

Munich Re; Greater Toronto Area; Hybrid; CAD 85,000 - 95,000; Full time

Job summary

An established industry player is seeking a Non-Financial Risk Specialist to enhance their integrated risk management infrastructure. This role involves evaluating new products and business proposals, ensuring compliance with industry regulations, and preparing comprehensive risk management reports. The ideal candidate will possess strong analytical and communication skills, with a focus on client service and strategic thinking. Join a forward-thinking company that values diversity and innovation, offering a collaborative work environment and a comprehensive benefits package to support your professional growth and well-being.

Benefits

Flexible Health and Dental Benefits

DC Pension Plan with Employer Contribution

Generous Time Off

Learning and Development Programs

Maternity, Parental & Adoption Leave Top-up

Employee Referral Program

Recognition & Rewards Platform

Qualifications

• 3-5 years of experience in the insurance/reinsurance industry.
• Ability to make operational and technical decisions related to risk management.

Responsibilities

• Support the development of the enterprise risk framework for North America.
• Prepare risk management policies and quarterly internal risk reports.

Skills

Analytical Skills

Problem Solving

Strategic Thinking

Communication Skills

Project Management

Client Service Focus

Education

University Degree in Actuarial Science

Business Administration

Risk Management

Tools

Microsoft Office Suite

Job description

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Non-Financial Risk Specialist will support the development, implementation, monitoring, and reporting of an enterprise-wide integrated risk management infrastructure for the life reinsurance operations from a non-financial risk perspective. The responsibilities will also involve evaluation of new products and/or business proposals from a non-financial risk perspective.

Your Role:

Risk Management Framework and Reporting

• Participates in the development, implementation, and monitoring of the enterprise risk framework for North American Enterprise Risk Management with a focus on non-financial risks.
• Supports responses to industry and regulatory requests, such as those from the Office of the Superintendent of Financial Institutions (OSFI) or the Canadian Life and Health Insurance Association (CLHIA).
• Prepares risk management policies and reports, such as the quarterly internal risk reports.
• Presents non-financial risk topics to senior leadership to increase awareness of risk exposures at the company.

Data Privacy and Strategic Data Initiatives

• Review and assess new data initiatives from an operational, privacy, and confidentiality perspective.
• Review clients’ and third-party data vendor’s contracts for new transactions or initiatives, including treaties, Statements of Work (SoWs), Master Service Agreements (MSAs), Non-Disclosure Agreements (NDAs).
• Prepares the risk assessment of data initiatives.
• Collects and reports operational risk events for quarterly reporting to Munich Re IRM.
• Supports the North American ORCS (Operational Risk and Control Systems) challenge function process.
• Provide support on record retention processes and updating the Munich Re Data Inventory.
• Provide support and risk assessments on vendors via Munich Re’s Third Party Risk Management Program.

Your Profile:

• University Degree in Actuarial Science, Business Administration, or Risk Management.
• 3-5 years of experience in the insurance/reinsurance industry.
• Strong analytical, problem solving, strategic thinking and business acumen skills
• Strong communication and interpersonal skills
• Ability to establish and maintain good working relationships with other departments
• Project management skills and experience
• Focus on client service and partnership
• Ability to make operational and technical decisions related to risk management (e.g. priority of work, process design, data decisions)
• Advanced software/application knowledge of Microsoft Office suite – MS Word, Excel, PowerPoint

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.

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