Vice President Corporate Actuarial

3 weeks ago

Toronto, Canada Munich Re Full time

**Vice President Corporate Actuarial**:
**Vice President, Corporate Actuarial**

Munich Reinsurance Company of Canada, a subsidiary of Munich Re, is hiring a Vice President, Corporate Actuarial for our Toronto office. Reporting to the SVP, Chief Actuary and Chief Risk Officer of Munich Reinsurance Company of Canada, the Vice President, Corporate Actuarial will manage the Reserving function for both MROC and Temple.

**Location**
Toronto, Canada

Along with the extended team of Actuaries, Senior Associates and the Director of Corporate Actuarialyou will be responsible for managing, reviewing and reporting on the quarterly reserving process for MROC and Temple. In addition this role will support Risk Management as well as the Finance division with planning and annual and quarterly reporting and forecasting. This function will also support underwriting, clients, market strategies and opportunities to optimize our long-term performance of non-life reinsurance to the benefit of our clients and the Munich Re Group.

Your job

**Key Accountabilities**:

- Manages the quarterly reserving process, review and reporting for MROC and Temple.
- Analyze the basis for and assess the reasonableness of provisions set for insurance contract liabilities, including opining on the appropriateness of the assessment process used.
- Establish, maintain and update policies, practices, and methodologies complying with accepted actuarial practice, standards established by the Canadian Institute of Actuaries (“CIA”), approved methodologies and the Company’s shareholder’s requirements, and responding to changes in the industry, regulatory requirements and the Company’s strategy and business activities.
- Ensure timely and accurate Group financial reporting through quarterly reporting to Central Reserving using Group standard tools.
- Ensure timely and accurate local regulatory financial reporting through quarterly collaboration with Finance.
- Understand underwriting portfolio and pricing as well as keep abreast of significant claims activities.
- Communicate, on a timely basis, quarterly reserving review with management and various stakeholders (MRSI, MRF&C) such as analysis of trends/results, large losses, emerging patterns and loss development (PYD) including the transparent disclosure of actuarial methods and assumptions underlying the analyses.
- Actively participates in the Local and Global Projects (e.g. IFRS 17, squaRE, REal, GRPro2) affecting actuarial data, work process and/or deliverables.
- Ensure compliance for Reserving and Reporting to the Munich Re Group standards and coordinate with Central Reserving units in Munich to leverage the Group support. Coordinate with central reserving functions on tools, process, SOLE, to name a few.
- Supports the Appointed Actuary role and responsibilities including preparation of Board/Audit Committee material (4 times a year) and coordinates regulatory Actuarial reporting.
- Ensures collaboration as well as timely and quality actuarial support to various stakeholders (e.g. underwriting, MRSI, MR F&C, finance, claims).
- Maintains co-operative working relationships with Central Reserving in Munich as well as internal audit, external auditors and regulators.
- Supports Finance with annual planning and quarterly forecasting.
- Support the Risk Management function, as required with various tasks e.g. data for capital modelling or retro submission as well as the IFRS 17 transition for FCT and support MR America AA tasks performed by risk.
- Maintain large loss database and analysis.
- Take a leadership role in the coaching, training mentorship and development of your team.

**Profile**:
**Your Profile**:
You have at least 7 years of non-life valuation experience and at least 2 years of relevant non-life Canadian practical experience in the last six years.

You are an experienced people leader with a minimum of 15 years of property & casualty actuarial work experience.

**Specialised Knowledge and Skills**
- Leadership qualities and abilities, with experience in developing a positive team environment.
- Strong communication, interpersonal and influencing skills across all levels of the organization.
- Ability to work cross-functionally to achieve results under tight deadlines
- Proven business acumen and problem solving skills.

Strong organizational skills; with the ability to analyze current processes and procedures while recommending and implementing necessary improvements-
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.

Munich Re is one of the top providers o

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