Sr. Actuarial Associate (Enterprise Risk Management)

Munich Re; Ontario; On-site; CAD 70,000 - 100,000; Full time

Job summary

A leading reinsurance company seeks a Sr. Actuarial Associate for its Enterprise Risk Management team in Toronto. In this role, you will develop and implement risk management frameworks, support regulatory requests, and present risk topics to senior leadership. Ideal candidates will have an Actuarial Science degree and relevant experience in insurance or reinsurance.

Benefits

Flexible work arrangements

Comprehensive health benefits

Pension plans

Learning resources

Qualifications

• 3-5 years in insurance/reinsurance with Risk Management or Actuarial experience.
• ASA designation or working towards it.
• Project management experience.

Responsibilities

• Develop and monitor the enterprise risk framework focusing on non-financial risks.
• Prepare risk management policies and internal reports.
• Support vendor risk assessments via the Third Party Risk Management Program.

Skills

Analytical skills

Problem-solving

Strategic thinking

Collaboration

Education

Degree in Actuarial Science, Business Administration, or Risk Management

Tools

Microsoft Office Suite

Job description

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Position Overview

The Sr. Actuarial Associate (Enterprise Risk Management) 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. Responsibilities also include evaluating new products and/or business proposals from a non-financial risk perspective.

Company

Munich Re, Canada (Life)

Location

Toronto, Canada

Role Responsibilities:

• Participate in developing, implementing, and monitoring the enterprise risk framework for North American ERM, focusing on non-financial risks.
• Support responses to industry and regulatory requests, such as those from OSFI or CLHIA.
• Prepare risk management policies and reports, including quarterly internal risk reports.
• Present non-financial risk topics to senior leadership to raise awareness of risk exposures.

Data Privacy and Strategic Data Initiatives

• Review and assess new data initiatives from operational, privacy, and confidentiality perspectives.
• Review contracts with clients and third-party data vendors, including treaties, SoWs, MSAs, NDAs.
• Prepare risk assessments for data initiatives.

Operational Risk Management

• Collect and report operational risk events for quarterly reporting.
• Support the North American ORCS challenge process.
• Assist with record retention and data inventory updates.
• Support vendor risk assessments via the Third Party Risk Management Program.

Candidate Profile:

• Degree in Actuarial Science, Business Administration, or Risk Management.
• 3-5 years in insurance/reinsurance, preferably with Risk Management or Actuarial experience.
• ASA designation or working towards it.
• Operational and technical decision-making skills related to risk management.
• Proficiency in Microsoft Office Suite.
• Strong analytical, problem-solving, strategic thinking, and business skills.
• Ability to collaborate across departments.
• Project management experience.

About Munich Re

Munich Re is a global leader in reinsurance, committed to diversity, innovation, and professional development. We offer a collaborative environment with comprehensive benefits, including flexible work arrangements, competitive compensation, health benefits, pension plans, and learning resources.

We are dedicated to an inclusive workplace and provide accommodations for applicants with disabilities throughout the recruitment process.

Only shortlisted candidates will be contacted. We thank all applicants for their interest.