Actuary
About the role
We care for humankind – and that starts with our people
Our greatest strength lies not in what we do – but how we do it. It’s the unique individual behind every piece of work who matters the most. Our people make Munich Re a global success. Working at Munich Re gives us access to the depth, breadth, and mindset we want in order to develop our full potential. That’s why a career with us is much more than just a job. It’s an invitation to be your very best and make a positive impact on the world.
Overview
Do you enjoy building relationships and working collaboratively in a team environment? As someone with excellent communication, technical and organizational skills, you will utilize exceptional interpersonal and influencing skills across all levels of the organization.
We’re looking for our next Actuary. Could It Be You?
Reporting to the Head of Pricing, Treaty Underwriting for Munich Reinsurance of Canada, an Actuary is responsible for analyzing the profitability of treaty reinsurance treaties, closely working with the underwriting & client management teams to ensure competitive pricing for quote opportunities, and conducting strategic projects to support the management of the treaty portfolio.
Need more details? Keep reading. You will…
- Lead treaty reinsurance pricing independently by identifying and evaluating key cost drivers, defending pricing assumptions with stakeholders, and overseeing multiple timelines to ensure a smooth treaty renewal process
- Assess pricing adequacy across varying contract terms and provide pricing recommendations in response to evolving regulatory frameworks (i.e. auto reform)
- Drive advanced portfolio analytics to identify emerging trends and insights, supporting strategic decision-making and delivering business recommendations
- Oversee and guide the development, maintenance and enhancement of actuarial models and pricing assumptions
- Lead strategic projects aligned with business needs, managing expectations with internal and external stakeholders
- Support reinsurance facultative and primary single risks pricing
- Provide CAT modelling support by using industry and in-house software
- Challenge the status quo and provide recommendations on areas of improvement
- Provide peer review and training/mentorship to junior analysts
- Attend industry seminars and workshops as necessary by business
- Perform other ad hoc tasks to achieve the goals and objectives of the company
So are YOU our next Actuary? You are if…
- First and foremost, you demonstrate a natural desire to provide exceptional client service through their energy, enthusiasm, and initiative.
In addition, we are looking for the following qualifications:
- Bachelors’ Degree in Actuarial Science, Mathematics or equivalent
- FCAS designation is required for Actuary title. Near FCAS or career ACAS with pricing experience would also be considered at a Senior Actuarial Associate level with a reduced salary range
- 5+ years of P&C actuarial work experience, prior experience in pricing is required and experience in reinsurance pricing is preferred
- Excellent working knowledge of MS Excel, PowerPoint, Access
- Programing and modeling experience such as: SQL, Power BI, AIR, RMS considered an asset
- Demonstrates exceptional actuarial judgement by making technical decisions independently and be self-driven to deliver business insights
- Proven experience leading projects and provide coaching to junior staffs
- Demonstrates exceptional communication skills to distill complex technical concepts into clear, persuasive messages for senior internal and external stakeholders
- Excellent interpersonal skills, capable of working independently and as part of a team
- Independently prioritizes competing tasks and remains flexible in adapting to changing work demands
In addition to an exciting job opportunity, we offer the following…
- You will be exposed to challenging projects and development opportunities to grow your skills and career with both local and global colleagues and partners.
- A comprehensive total rewards financial program which includes extensive flexible benefits and pension.
- A hybrid work environment in an inspiring physical workplace setting.
- Educational Assistance Programs that continue to recognize your on-going success.
Click on the link to apply…
Munich Re Canada 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 [email protected] as soon as practical so that suitable accommodations can be arranged.
Our base salary range for the actuary role is between $135,000 and $174,000 per year, plus an opportunity for an annual company bonus based upon a percentage of eligible pay. The salary range for the Senior Actuarial Associate will be lower. 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.
