Actuary - Valuation (Model Development)
Munich Re
Toronto, ON
Join Munich Re’s Corporate Actuarial team to accelerate your actuarial career through mastery of reinsurance valuation, financial reporting, capital optimization / ALM, and risk exposure and analysis. You will develop and use leading-edge actuarial models and analytics for the analysis and reporting of Life & Health Reinsurance business in a collaborative and inventive area that regularly works with other actuarial teams such as Pricing, Accounting, Biometric Research, Data Management, Claims and ERM. You will have accountability and exposure to a broad range of functions within the area deepening your technical expertise to both current reporting and new concepts such as LICAT and IFRS17 with the opportunity to work on various lines of business – Individual Life, Disability Income, Critical Illness, Long Term Care, and Group allowing for growth in product knowledge, risk exposure, and traditional and non-traditional reinsurance structures. Two (2) positions currently available. Successful candidates' level can range from Actuarial Associate to Actuary, depending on experience and actuarial credentials.

North American Valuation Stream (2 positions) Under the direction of Director, Corporate Actuarial, the successful candidates supports and/or lead various model development initiatives within the North American Valuation project team. You will actively drive the review, analysis, model design and implementation of valuation models and processes spanning all markets and lines of business across Canada and the US. You will also play a key role in company-wide projects to enhance understanding and evaluation of impacts and preparation of models, reporting and systems for IFRS17 reporting. Leadership As a senior resource on the team you will contribute to a high performance team that is highly engaged and recognized as experts both internally throughout the global Munich Re organization. You will coach, train and provide challenging tasks and assignments to junior staff. You will present results, methodology, implementation issues, etc. effectively to various stakeholders with varying levels of knowledge of NAV, Modeling and Valuation. Finally, you will build strong relationships with other departments, maintain regular communication, identify opportunities for improvement and successfully addresses issues as they arise.

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.
University Degree in Actuarial Science, Finance, Statistics, or Mathematics.
FSA/FCIA or progressing towards
3-7 years of experience in the Canadian Life and Health insurance/reinsurance industry.
Prior experience with NAV, modeling, valuation and/or reporting experience is advantage.
Strong problem solving and organization skills.
Strong communication, interpersonal and influencing skills across all levels of the organization.
Ability to establish and maintain good working relationships with other departments.
Demonstrated flexibility and effectiveness working under tight timelines.
Demonstrated ability to adapt in a dynamic environment and work on various new tasks and changing priorities
Strong analytical and financial modeling skills. Comfortable working with fairly complex calculations.
Project management skills and experience.
Superior attention to detail and accuracy.
Advanced Excel, Word, Access.
Experience with SQL server is an asset.
Experience with AXIS and Datalink.

Munich Re is one of the world’s leading reinsurance companies with approximately 45,000 employees in over 50 locations around the globe. As an industry leader, we provide a unique opportunity to be part of a global success story. We offer our employees a diverse and challenging work environment which champions high performance, professional development, innovation and passion; and rewards top performers with a highly competitive total rewards package.