Director Corporate Actuarial

Director, Corporate Actuarial

Company: Munich Reinsurance Company of Canada

Location: Toronto, Canada

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 at Munich Re 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 with both internal, external, and global stakeholders? Do you possess strong analytical and investigative competencies? As someone with excellent communication skills and business acumen, you will utilize exceptional interpersonal and influencing skills across all levels of the organization.

We’re looking for our next Director, Corporate Actuarial. Could It Be You?

Reporting to the VP, the director will be responsible for leading, communicating, and streamlining the quarterly nominal and IFRS 17 reserving and forecast analysis for both the primary and/or reinsurance business.

Responsibilities include:

• Leading the quarterly review of actual and forecasted claims and premium liabilities, including setting of assumptions and interpreting the nominal and IFRS 17 results.
• Driving automation and complexity reduction and transitioning towards new ways of collaboration.
• Be a change agent to help business stakeholders understand nominal and IFRS 17 results and present results to senior executives.
• Actively engage with Finance during the quarterly closing processes and support local regulatory financial reporting.
• Support Group financial reporting through quarterly reporting to Central Reserving using Group standard tools.
• Compilation of quarterly reserving management reporting, complete with analysis and communication, including local/group management/board presentations.
• Working closely with a number of teams, including but not limited to Finance, Risk, Claims, Underwriting, other international operations, and Central Reserving in Head Office (Munich) for various financial reporting, modelling, and data assumptions/trends.
• Coordinating auditor and regulatory requests.
• Manage the preparation of the Appointed Actuary Report annually.
• Leveraging analytics to reinforce presentation of results.
• Keeping abreast of the Canadian Property & Casualty industry knowledge and developments.
• Responsible for performance management, mentoring, and developing staff.

So are YOU our next Director, Corporate Actuarial? You are if…

First and foremost, we’re looking for well-rounded individuals who are professional, have great communication skills, and demonstrate the ability to build strong relationships with both internal and external clients. You’ll be joining an energetic and goal-oriented team that uses a collaborative approach to working within all areas of the company and focuses on achieving the greater objectives of Munich Re.

Specifically, we’re looking for the following qualifications:

• A Bachelors’ Degree in Actuarial Sciences or Equivalent.
• ACAS/ACIA (Associate of Casualty Actuarial Society/Canadian Institute of Actuaries) or equivalent actuarial credential is required.
• FCAS/FCIA (Fellow of Casualty Actuarial Society/Fellowship of the Canadian Institute of Actuaries) or equivalent actuarial credential is desired.
• Minimum of eight (8) years of knowledge and experience in the property & casualty industry.
• Experience with reserving is required.
• Experience with reinsurance and financial reporting & forecasting is preferred.
• Ability to influence and make technical decisions (e.g. modeling decisions, data decisions) with demonstrated sound judgement in actuarial decision making.
• Keen problem-solving skills, strategic thinking, and business acumen.
• Well-developed organizational skills, with the ability to analyze current processes and procedures and recommend and implement improvements.
• Superior attention to detail and accuracy.
• Ability to work independently and in a team environment.
• Ability to work collaboratively across all areas of the company to achieve results under tight deadlines.
• Ability to handle a number of diverse projects and coordinate the activities of others in a performance-oriented culture.
• Advanced software/application knowledge, including MS Word, Excel, and PowerPoint.
• Knowledge in insurance-related databases, SAS, SQL, R, and/or Python is an asset.

Please note that direct reports for this role may include Associate Actuary/Actuarial Associate, Analyst, Actuarial, and Co-op resources.

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 ongoing success.

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.