Non-Financial Risk Specialist

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

Job summary

An established industry player is seeking a Non-Financial Risk Specialist to enhance their risk management framework. You will play a crucial role in evaluating new products and business proposals, while also preparing risk management policies and reports for senior leadership. This role offers a hybrid work environment, fostering collaboration and continuous learning. With a focus on operational risk and data privacy, you will contribute to the organization’s strategic initiatives. If you are passionate about risk management and thrive in a dynamic environment, this opportunity is perfect for you.

Benefits

Flexible Health and Dental Benefits

Hybrid Work Environment

Annual Company Bonus

Learning and Development Programs

Generous Time Off

Pension Plan with Employer Contribution

Employee Referral Program

Recognition & Rewards Platform

Qualifications

• 3-5 years of experience in the insurance/reinsurance industry.
• Strong analytical, problem solving, and strategic thinking skills.

Responsibilities

• Support the development and monitoring of the enterprise risk framework.
• Prepare risk management policies and reports for senior leadership.

Skills

Analytical Skills

Problem Solving

Strategic Thinking

Communication Skills

Interpersonal Skills

Project Management

Client Service Focus

Education

University Degree in Actuarial Science

University Degree in Business Administration

University Degree in Risk Management

Tools

Microsoft Office Suite

Job description

Position Overview

The 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.

What Can We Offer You?

• 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.