Senior Actuarial Associate - Individual Reinsurance Solutions

Munich Re Group; Toronto; On-site; CAD 85,000 - 110,000; Full time

Job summary

Munich Re Group is seeking an actuarial pricing professional to support ongoing management, analysis, and modelling of the Individual Life and Critical Illness new business portfolio. The role focuses on pricing management models, profitability monitoring, and developing actuarial assumptions for quality quotes on time.

You will build AXIS models, collaborate with stakeholders, and enhance pricing processes while applying strong analytical and communication skills in a fast-paced environment.

Qualifications

• University degree in actuarial science, finance, statistics, or mathematics.
• FSA or progression toward FSA.
• 2+ years actuarial experience in Life and Health insurance/reinsurance.
• Strong analytical, organizational, and problem-solving skills with high attention to detail.
• Able to learn quickly and work under tight timelines in a dynamic environment.
• Excellent communication, including the ability to clearly present analyses to technical and non-technical audiences.

Responsibilities

• Maintain and enhance pricing management models for the Individual Life and Critical Illness new business portfolio.
• Monitor portfolio changes to explain variances between actual and expected volumes and profitability.
• Support development and testing of actuarial assumptions used in pricing Individual Life and CI business.
• Lead or contribute to internal projects or ad-hoc requests with team members and stakeholders.
• Develop tools to improve day-to-day pricing processes and methodologies.
• Build models in AXIS to price products and determine profitability metrics.
• Assist in analysis of internal and external data to support assumption development for reinsurance.

Skills

Actuarial science

FSA progression

Analytical skills

Communication skills

Problem solving

Education

University degree in Actuarial Science, Finance, Statistics, or Mathematics

Tools

GGY AXIS

Datalink

SQL

Excel

Word

PowerPoint

Job description

• Supports the ongoing pricing management, analysis, and modelling of the Individual Life and Critical Illness new business portfolio.
• Maintains and enhances pricing management models, monitors new business volumes and profitability, and supports the development and testing of assumptions used for new business pricing.
• Assist with the development of assumptions and building of actuarial models for Individual Life or Critical Illness business, enabling the delivery of quality quotes on time.
• Works with team members or other internal stakeholders and manages assigned deliverables, communicates analyses and delivering results and documentation.

Position Overview

• Supports the ongoing pricing management, analysis, and modelling of the Individual Life and Critical Illness new business portfolio.
• Maintains and enhances pricing management models, monitors new business volumes and profitability, and supports the development and testing of assumptions used for new business pricing.
• Assist with the development of assumptions and building of actuarial models for Individual Life or Critical Illness business, enabling the delivery of quality quotes on time.
• Works with team members or other internal stakeholders and manages assigned deliverables, communicates analyses and delivering results and documentation.

Your Role

• Maintain and enhance the pricing management models used to monitor the Individual Life and Critical Illness new business portfolio.
• Monitor the portfolio to identify changes in the portfolio to explain variances between actual and expected volumes and profitability.
• Support the development and testing of actuarial assumptions used in pricing Individual Life and Critical Illness business.
• Lead or contribute to the technical aspects of internal projects or ad-hoc requests, working with other team members or internal stakeholders.
• Contribute to the enhancement of pricing processes or methodologies by developing tools for potential improvements of the day-to-day process and pricing methods.
• Build models in AXIS to appropriately price products and determine profitability metrics.
• Assist in the analysis of both internal and external data to support assumption development processes for reinsurance.

Your Profile

• University Degree in Actuarial Science, Finance, Statistics, or Mathematics.
• FSA or progression towards FSA.
• 2+ years of actuarial experience in the Life and Health insurance/reinsurance industry.
• Strong analytical, organizational, and problem-solving skills with high degree of attention to detail.
• Demonstrated ability to learn quickly and work effectively under tight timelines in a dynamic environment.
• Excellent communication skills, including the ability to clearly organize and present analyses to technical and non-technical audience.
• Proficient with GGY AXIS, Datalink, SQL, Excel, Word, PowerPoint.