Senior Actuarial Associate - Global Actuarial Consulting Group

Next Insurance, Inc.; Toronto; Hybrid; CAD 118,000 - 130,000; Full time

Benefits offered by this job

Hybrid work

Annual bonus

Health benefits

Dental benefits

Wellness spending

DC Pension Plan

Paid vacation

Education assistance

Parental leave

Employee referrals

Job summary

Munich Re in Toronto, Canada, offers a hybrid role within Global Actuarial Consulting Group (GACG). You will design actuarial models for regional reinsurance, build pricing models, and perform experience studies and valuation tasks while collaborating with cross-functional teams across Canada, the U.S., the U.K., and Germany.

You will lead project workstreams, mentor actuarial students, and present findings to clients and Munich Re management.

Qualifications

• 3+ years actuarial experience in life/health insurance or reinsurance.
• Strong problem solving and organization skills.
• Excellent communication skills and attention to detail.

Responsibilities

• Design actuarial models for region-specific reinsurance structures.
• Build pricing models for new quotes
• Conduct experience studies and set actuarial assumptions
• Perform valuation and reporting for various bases
• Analyze data and present insights to stakeholders
• Develop surveys for industry publications
• Support risk analysis and sensitivity testing
• Assist global teams with ad-hoc requests and secondments

Skills

Problem solving

Communication skills

Attention to detail

Mentoring

Education

University degree (Actuarial Science/Finance/Statistics/Math)

FSA or progressing toward FSA

Tools

AXIS

SQL

Python

Job description

Join the Global Actuarial Consulting Group (GACG) and be a driving force in actuarial excellence for Munich Re’s global reinsurance business. As a member of GACG, you will play a key role in delivering high-impact actuarial solutions to internal clients across the globe. This is an opportunity to work on a wide range of strategic and technical projects such as model development, pricing analysis, experience studies, valuation and financial reporting in key markets including Canada, the U.S., the U.K., and Germany. You will collaborate with cross-functional teams and stakeholders across Munich Re to deliver solutions on high-visibility assignments.

You are a results-driven professional with a strong work ethic and a passion for solving complex problems. You thrive in a high-performing, client-focused environment and are eager to make a meaningful impact. If you’re driven by curiosity and energized by solving complex, undefined problems, this role offers the perfect platform.

The level and scope of the position will be tailored to your experience, including your technical expertise and leadership capabilities.

Your Role:

GACG consultants have the opportunity to work on a diverse set of projects for a wide range of global clients, including but not limited to:

• Designing actuarial models for unique, region-specific reinsurance structures.
• Building pricing models for new quotes for region-specific business.
• Performing experience studies and developing actuarial assumptions.
• Analyzing and visualizing data to present insights to key stakeholders.
• Performing valuation and reporting under various bases.
• Developing surveys and analyzing results to be used in industry publications.
• Supporting risk analysis and the regular sensitivity testing of financial results.
• Supporting global teams with various ad-hoc requests and secondments.

In addition, Senior Actuarial Associates are expected to:

• Lead aspects of project workstreams and effectively delegate and review work.
• Mentor actuarial students on the team.
• Present formally and informally to GACG’s clients, Munich Re management and occasionally Munich Re’s clientele.

Sample internal clients of GACG include Individual and Group Pricing, Corporate Actuarial, Financial Reinsurance, Biometric Research and Enterprise Risk Management.

Your Profile:

• University Degree in Actuarial Science, Finance, Statistics, or Mathematics.
• FSA or progression towards FSA.
• 3+ years actuarial experience in the Life and Health insurance/reinsurance industry.
• Demonstrated ability to adapt in a dynamic environment and successfully deliver on multiple assignments under tight timelines.
• Strong problem solving and organization skills.
• Superior attention to detail and accuracy.
• Excellent communication skills
• Experience with AXIS, SQL, and/or Python is an asset.
• Ability to travel internationally is an asset.

About Munich Re

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

Our base salary range for this role is between $118,000 and $130,000 per year, plus an opportunity for an annual company bonus based upon a percentage of eligible pay. The salary estimate displayed represents the typical salary range for candidates hired in this position. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to internal equity.

This role is located in our Toronto office on 390 Bay St, and we operate in a hybrid work model. This job posting is for an existing vacancy.

We do not use AI in our recruitment process - applications are reviewed by our team to ensure a fair and personalized experience.

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.