Insurance Risk Manager

23 hours ago

Ottawa, Ontario, Canada Munich Re Full time

Overview

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Munich Re, a global leader in the insurance industry, is seeking an experienced Actuary to join our team in Toronto, Canada. This exciting opportunity allows you to utilize your analytical and problem-solving skills to drive business growth and improve risk management.

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About the Role

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We are looking for a highly skilled Actuary who can manage development and ongoing maintenance of quarterly reserving and forecast analysis for Munich Reinsurance of Canada (MROC) and Temple Insurance Company (Temple). You will be responsible for leading the quarterly review of actual and forecasted claims and premium liabilities, setting assumptions, and interpreting financial results. Additionally, you will drive automation and complexity reduction, transitioning towards new ways of collaboration.

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Key Responsibilities

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Some of the key responsibilities of this role include:

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  • Leading the quarterly review of actual and forecasted claims and premium liabilities;">
  • Setting assumptions and interpreting financial results;">
  • Driving automation and complexity reduction;">
  • Transitionsing towards new ways of collaboration;">
  • Understanding Munich Re's methodology used to generate cashflows, produce financials, and reserving inputs/assumptions required for IFRS17 modelling;">
  • Delivering data/assumptions for IFRS17 modelling and testing; analyzing results of MRM testing/modelling;">
  • Providing insights to MRM regarding Canadian specific requirements, including OSFI and CIA requirements;">
  • Supporting the continued development of local IFRS17 assessment tool, including sensitivity testing and comparison against MRM outputs;">
  • Providing data/analysis to respond to regulatory IFRS17 requests, including assisting in preparing and improving the efficiency in Appointed Actuary Report preparation annually;">
  • Leading regular communications with MRM, including drafting of topics and preparation of discussion material;">
  • Understanding Temple & MROC financial data, working with Actuarial Reserving team to extract/obtain data as required;">
  • Understanding Temple & MROC reinsurance structures and IFRS17 modelling implications, providing input to MRM as required;">
  • Working closely with other IFRS17 leads in Canada and external IFRS17 actuarial resources;">
  • Collaborating with various teams, including Finance, Risk, Claims, Underwriting, other international operations, and Central Reserving in Head Office (Munich) for various financial reporting, modelling, and data assumptions/trends;">
  • Taking an active role in development and roll out of local IFRS17 communication material with senior management;">
  • Staying up-to-date with global and Canadian Property & Casualty industry knowledge and developments, including any regulatory guidelines;">
  • Maintaining cooperative working relationships with all MR Canada departments and staff;">
  • Maintaining external working relationships with MRM, external auditors, and government regulators;">
  • Educational assistance programs that recognize ongoing success;">
  • A hybrid work environment in an inspiring physical workplace setting;">
  • Total rewards financial program including flexible benefits and pension;">
  • Ongoing professional development opportunities;">
  • Opportunity to work on challenging projects and collaborate with local and global colleagues and partners;">
  • An estimated annual salary range of $120,000 - $160,000 depending on experience and qualifications.">
  • An excellent benefits package, including comprehensive health and dental coverage, retirement savings plan, and paid time off.
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Requirements

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To be considered for this exciting opportunity, you will need to meet the following requirements:

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  • Bachelor's degree in Actuarial Sciences or equivalent;">
  • ACAS/ACIA designation or equivalent actual credential as a requirement;">
  • FCAS/FCIA or equivalent actuarial credential ideally held or currently pursuing;">
  • At least five years of experience in the property & casualty industry, with expertise in reserving, reinsurance, and financial reporting & forecasting;">
  • Strong analytical and problem-solving skills;">
  • Excellent communication, organizational, and time management skills;">
  • Ability to make technical decisions and demonstrate sound judgement in actuarial decision making;">
  • Exceptional ability to build strong relationships with colleagues and stakeholders;">
  • Well-developed organization skills and ability to analyze current processes and procedures;">
  • Flexibility and adaptability to changing environments and situations;">
  • Proficiency in Microsoft Office and other computer software, including MS Word, Excel, and PowerPoint, with knowledge of insurance-related databases, SAS, SQL, Power BI, R, and/or Python preferred.
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What We Offer

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Munich Re offers a dynamic and supportive work environment that encourages professional growth and development. Our total rewards package includes competitive salaries, comprehensive benefits, and ongoing educational assistance programs. As a valued member of our team, you will have access to ongoing professional development opportunities and be part of a collaborative and innovative work environment.

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How to Apply

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If you are a motivated and detail-oriented individual with a passion for actuarial science, please submit your application, including your resume and cover letter, by clicking on the link below.

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Please note that we are committed to providing a work environment that is inclusive and free of employment barriers and discrimination.

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Accommodations will be made for qualified applicants with a disability throughout the recruitment process.

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An estimated salary range of $120,000 - $160,000 per year, depending on experience and qualifications.

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Language: en

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