Actuarial Associate

Actuarial Associate

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 Actuarial Associate. Could It Be You?

Reporting to the Director, Corporate Actuarial, the Actuarial Associate will manage and enhance the efficiency and accuracy of the ongoing quarterly reserving and reporting analysis for both primary and reinsurance business. This role is sometimes referred to as a Senior Actuarial Analyst, requiring significant experience within the P&C insurance industry at a senior level.

Responsibilities

• Conduct quarterly reserving and reporting analyses of claims and premium liabilities, including setting of assumptions, selection of appropriate methodologies and assessing the impact.
• Drive automation and complexity reduction and transition towards new ways of collaboration.
• Streamline procedures and develop advanced methodologies to improve the efficiency and accuracy of the reserving process.
• Be a change agent in leveraging analytics to reinforce presentation of results to all internal and external stakeholders.
• Develop actionable business insights, and actively engage underwriting, finance and claims during the quarterly reserving processes.
• Perform deep dive/ad hoc innovative analysis as required.
• Assist in preparing and improving the efficiency in Appointed Actuary Report preparation annually.
• Work closely with various teams for reserving, modeling, reporting, and data assumptions/trends.
• Keep abreast of the Canadian and international Property & Casualty industry knowledge and developments.
• Maintain a collaborative working relationship with all MR Canada departments and colleagues in Central functions in Munich.

So are YOU our next Actuarial Associate? You are if…

• You ideally have a Bachelor’s Degree in Actuarial Sciences or equivalent.
• You are working towards ACAS/FCAS/equivalent actuarial credential with completion of at least four (4) actuarial examinations.
• You have a minimum of three (3) years of knowledge and experience in the property & casualty industry as well as experience with reserving, financial forecasting and analytics.
• You possess keen strategic thinking, business acumen and problem-solving skills.
• You have good communication, organizational, and time management skills with a demonstrated attention to detail and an eye for accuracy.
• You have exceptional computer skills including Microsoft Office and other software.
• You have exceptional ability to make technical decisions, demonstrating sound judgment in actuarial decision making.
• You have the ability to work on a small team and build strong relationships with your colleagues.
• You have well-developed organization skills, with the ability to analyze current processes and recommend and implement improvements.
• You demonstrate a high degree of flexibility and adaptability to changing environments and situations.
• You are able to handle a number of diverse projects and coordinate the activities of others in a performance-oriented culture.
• You ideally have knowledge of Power BI/R/similar software and predictive analytics.

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.