Top Benefits
About the role
Location
Toronto, Canada
Job type
Full-Time
Work mode
Hybrid
Job level
Professional
Job ID
11199
Company
Munich Re, Canada (Life)
Employment type
Regular
Area of expertise
Actuarial & Risk Management
Position Overview
Join Munich Re’s Corporate Actuarial team to accelerate your actuarial career through mastery of reinsurance valuation and reporting methods. You will develop and use leading-edge models designed for analysis and reporting for the Life & Health Reinsurance business in Canada and US. You will regularly work with other actuarial teams such as Pricing, Accounting, Biometric Research and ERM, while deepening your expertise and exposure to new concepts such as LICAT and IFRS17, and various assignments and projects.
You demonstrate a consistent need for achievement, a strong work ethic and a drive to make a difference. You are also an excellent communicator and thrive working in a high-performing and client focused environment with a desire to make an impact. You have the ability to learn quickly, synthesize and implement solutions, and explain technically challenging concepts to other actuarial teams and senior management. If this sounds like a challenge, this is the right role for you.
The successful candidate will contribute to the production of financial information related to valuation, solvency, and planning.
Your Role:
- Preparing IFRS reserves, OSFI regulatory exhibits, and LIMAT returns with a high level of accuracy and analytical depth.
- Supporting the development of presentation materials for senior management by ensuring accuracy of financial figures and clarity in the explanation of results and key drivers.
- Enhancing and maintaining financial reporting systems and processes to accommodate new treaties, regulatory changes, and efficiency improvements.
- Supporting LIMAT reporting, Financial Condition Testing (FCT), business planning, Solvency II reporting, and Value of New Business (VNB) assessments.
- Collaborating with cross-functional teams such as Pricing, Accounting, Reinsurance Operations, and Enterprise Risk Management (ERM) to ensure alignment and support across business functions.
Your Profile:
- University Degree in Actuarial Science, Finance, Statistics, or Mathematics,
- ASA with progression towards FSA,
- 3+ years actuarial experience in the Canadian Life and Health insurance/reinsurance industry,
- Advanced proficiency in Excel and other Microsoft Office applications; experience with AXIS and SQL is an asset,
- Strong analytical and financial modeling skills, with the ability to manage complex calculations confidently,
- Superior attention to detail and accuracy,
- Strong problem solving and organization skills,
- Excellent communication skills,
- Ability to establish and maintain good working relationships with other departments.
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
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 AODARequestHR@munichre.ca as soon as practical so that suitable accommodations can be arranged.
Your Benefits
With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.
Competitive Salary
We provide fair and competitive compensation that reflects your performance and commitment.
Company performance-based Incentives
In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.
Recognition and Special Rewards
We recognise outstanding individual contributions through a variety of targeted rewards and incentives.
Retirement Planning
We support your long-term financial wellbeing with retirement solutions aligned with local regulations.
Inclusive Workplace Culture
We foster a respectful, inclusive, and values-driven environment.
Learning & Development
We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.
Work-Life-Balance
Supporting your ability to balance family, leisure, and your career.
Health & Wellbeing
We support your physical and mental health through a range of programs and activities in each location.
About ERGO GROUP
ERGO is one of the major insurance groups in Germany and Europe. The Group is represented in over 20 countries worldwide and focuses on its core and growth markets in Europe and Asia. ERGO offers a comprehensive range of insurance policies, pensions, investments and services. In its domestic market of Germany, ERGO is among the leading providers in 2024, ERGO had an insurance turnover of 21 billion euros and technical expenses of almost 19 billion euros.
We assume responsibility
We insure people and companies for the future. For us, looking ahead and acting sustainably is a matter of course. We make an active contribution to social projects and, together with Munich Re and partners, seek innovative solutions to the challenges posed by climate change.
We are international.
In its home market of Germany, ERGO is one of the leading providers in the life, property and health segments with a comprehensive range of products. About a quarter of ERGO’s total premium income is earned abroad. The core markets are in Europe, with a strong presence in Poland, Belgium, Austria, Spain and Greece. Growth markets in the Asian region are primarily India and China.
ERGO – A Munich Re company.
ERGO is part of Munich Re – one of the world’s leading reinsurers and risk carriers. Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. Munich Re has well over a century of international experience and is a member of the DAX 40 and EURO STOXX 50. MEAG, Munich Re’s asset manager and fund provider, also manages ERGO’s investments, amounting around to 138,1 billion euros.
Top Benefits
About the role
Location
Toronto, Canada
Job type
Full-Time
Work mode
Hybrid
Job level
Professional
Job ID
11199
Company
Munich Re, Canada (Life)
Employment type
Regular
Area of expertise
Actuarial & Risk Management
Position Overview
Join Munich Re’s Corporate Actuarial team to accelerate your actuarial career through mastery of reinsurance valuation and reporting methods. You will develop and use leading-edge models designed for analysis and reporting for the Life & Health Reinsurance business in Canada and US. You will regularly work with other actuarial teams such as Pricing, Accounting, Biometric Research and ERM, while deepening your expertise and exposure to new concepts such as LICAT and IFRS17, and various assignments and projects.
You demonstrate a consistent need for achievement, a strong work ethic and a drive to make a difference. You are also an excellent communicator and thrive working in a high-performing and client focused environment with a desire to make an impact. You have the ability to learn quickly, synthesize and implement solutions, and explain technically challenging concepts to other actuarial teams and senior management. If this sounds like a challenge, this is the right role for you.
The successful candidate will contribute to the production of financial information related to valuation, solvency, and planning.
Your Role:
- Preparing IFRS reserves, OSFI regulatory exhibits, and LIMAT returns with a high level of accuracy and analytical depth.
- Supporting the development of presentation materials for senior management by ensuring accuracy of financial figures and clarity in the explanation of results and key drivers.
- Enhancing and maintaining financial reporting systems and processes to accommodate new treaties, regulatory changes, and efficiency improvements.
- Supporting LIMAT reporting, Financial Condition Testing (FCT), business planning, Solvency II reporting, and Value of New Business (VNB) assessments.
- Collaborating with cross-functional teams such as Pricing, Accounting, Reinsurance Operations, and Enterprise Risk Management (ERM) to ensure alignment and support across business functions.
Your Profile:
- University Degree in Actuarial Science, Finance, Statistics, or Mathematics,
- ASA with progression towards FSA,
- 3+ years actuarial experience in the Canadian Life and Health insurance/reinsurance industry,
- Advanced proficiency in Excel and other Microsoft Office applications; experience with AXIS and SQL is an asset,
- Strong analytical and financial modeling skills, with the ability to manage complex calculations confidently,
- Superior attention to detail and accuracy,
- Strong problem solving and organization skills,
- Excellent communication skills,
- Ability to establish and maintain good working relationships with other departments.
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
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 AODARequestHR@munichre.ca as soon as practical so that suitable accommodations can be arranged.
Your Benefits
With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.
Competitive Salary
We provide fair and competitive compensation that reflects your performance and commitment.
Company performance-based Incentives
In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.
Recognition and Special Rewards
We recognise outstanding individual contributions through a variety of targeted rewards and incentives.
Retirement Planning
We support your long-term financial wellbeing with retirement solutions aligned with local regulations.
Inclusive Workplace Culture
We foster a respectful, inclusive, and values-driven environment.
Learning & Development
We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.
Work-Life-Balance
Supporting your ability to balance family, leisure, and your career.
Health & Wellbeing
We support your physical and mental health through a range of programs and activities in each location.
About ERGO GROUP
ERGO is one of the major insurance groups in Germany and Europe. The Group is represented in over 20 countries worldwide and focuses on its core and growth markets in Europe and Asia. ERGO offers a comprehensive range of insurance policies, pensions, investments and services. In its domestic market of Germany, ERGO is among the leading providers in 2024, ERGO had an insurance turnover of 21 billion euros and technical expenses of almost 19 billion euros.
We assume responsibility
We insure people and companies for the future. For us, looking ahead and acting sustainably is a matter of course. We make an active contribution to social projects and, together with Munich Re and partners, seek innovative solutions to the challenges posed by climate change.
We are international.
In its home market of Germany, ERGO is one of the leading providers in the life, property and health segments with a comprehensive range of products. About a quarter of ERGO’s total premium income is earned abroad. The core markets are in Europe, with a strong presence in Poland, Belgium, Austria, Spain and Greece. Growth markets in the Asian region are primarily India and China.
ERGO – A Munich Re company.
ERGO is part of Munich Re – one of the world’s leading reinsurers and risk carriers. Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. Munich Re has well over a century of international experience and is a member of the DAX 40 and EURO STOXX 50. MEAG, Munich Re’s asset manager and fund provider, also manages ERGO’s investments, amounting around to 138,1 billion euros.