Actuary, IRS, (12 - 18 month contract position)

Member of the Individual Reinsurance team, supports the development of reinsurance solutions for the Life and Critical Illness lines of business. Works closely with peers, actuaries, and other key individuals in Underwriting, Pricing, Biometric Research, and Corporate Actuarial from the Toronto and Montreal offices. Develops assumptions and builds actuarial models for Individual Life or Critical Illness business, enabling the delivery of quality quotes on time. Supports the delivery of work requirements to more senior actuarial staff and internal clients with a thorough understanding of the task to be accomplished, while managing expectations and delivering results and documentation.

Key Accountabilities

• Collect and analyze both internal and external data to support assumption development processes for reinsurance.
• Develop actuarial assumptions (distributions, experience adjustments, etc.) for client products to be used in pricing of Individual Life and Critical Illness business.
• Build models in AXIS to appropriately price products and determine profitability metrics.
• Summarize profitability and recommend pricing terms for reinsurance by comparing to past/comparable quotes and existing profit targets.
• Create and review Individual Insurance Survey presentations for different clients, adjusting for the specific business portfolio, concerns, and priorities of each client.
• Support the maintenance and updating of pricing management models, and analyze results from these models to report on overall portfolio profitability.
• Draft new treaties and treaty amendments based on recent changes to reinsurance structures, treaty provisions, etc.
• Participate in the enhancement pricing methodologies by analyzing day-to-day process and pricing methods, to help identify and develop tools for potential improvements.
• Contribute to technical aspects of ad-hoc requests and projects, working with other team members or internal stakeholders.

Qualifications

• University Degree in Actuarial Science, Finance, Statistics, or Mathematics.
• FSA or progressing towards attainment of FSA, FCIA.
• 3-7+ years experience in the Canadian Life and Health insurance/reinsurance industry
• Strong analytical and modeling skills.
• Strong ability to establish and maintain effective interpersonal relationships with co-workers.
• Excellent communication skills as demonstrated in general conversation, with clear, complete responses, formal presentations and written documents.
• Strong problem solving and organization skills.
• Demonstrated flexibility and effectiveness working under tight timelines.
• Demonstrated ability to adapt in a dynamic environment.

• Advanced Excel, Word, Access, and PowerPoint.
• Knowledgeable with GGY AXIS and Datalink.

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

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.

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.