Manager & Actuary (NA Model Development Valuation)

Manager & Actuary, NA Model Development (Valuation)

Company: Munich Re, Canada (Life)

Location: Toronto, Canada

The Corporate Actuarial team is looking for a Manager & Actuary, North American Model Development (Valuation) for their Toronto office.

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 actuarial and non-actuarial teams such as Pricing, Global Actuarial Consulting Group, Biometric Research, Enterprise Risk Management, Reinsurance Operations, and Business Transformation.

You will have 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.

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.

Your Job:

Under the direction of the Director, Corporate Actuarial, the successful candidate will advance model development initiatives within the North American Model Development team, which may include but is not limited to:

• Collaborate in the dashboard reporting, prioritization, implementation, and impact analysis of new treaties and other Pricing-based models into the Valuation standard model.
• Quantify and explain impacts of model changes, new AXIS functionality, and new data under multiple reserving bases (IFRS17, SII, STAT). Present results/recommendations to management.
• Guide team members in the design, implementation, testing, quantification, and understanding of model enhancements required for reporting.
• Build relationships with other departments, maintain regular communication, negotiate priorities, identify opportunities for improvement, and address issues as they arise.
• Identify inefficiencies in both modeling and processes and recommend improvements to streamline workflow.
• Maintain the North American Valuation modeling standards and adapt to emerging industry best practices in model design, data & assumption management.
• Develop and enforce controls and documentation of models and processes under the risk control framework.
• Foster a culture of feedback and development while mentoring junior staff through challenging tasks.

Your Profile:

• University Degree in Actuarial Science, Finance, Statistics, or Mathematics.
• FSA/FCIA qualification.
• Experience with AXIS and Datalink, SQL server, Excel, Power Query, Power BI.
• Established knowledge of the North American insurance product market including prior experience in the North American Life and Health insurance/reinsurance industry.
• Strong analytical, problem-solving, and financial modeling skills. Comfortable working with complex calculations.
• Strong communication, interpersonal, and influencing skills across all levels of the organization.
• Demonstrated flexibility, effectiveness working under tight timelines, and ability to adapt in a dynamic environment.
• Superior attention to detail and accuracy.
• Ability to establish and maintain good working relationships with other departments.

What Can We Offer You?

We are pleased to offer our employees great benefits and resources to support their mental, physical, and financial wellbeing. These include:

• An engaging and collaborative environment that promotes continuous learning and development.
• A hybrid work environment that combines weekly in-office and remote days with Meeting-Free lunch hours and Focus Friday afternoons.
• A great compensation package including an annual company bonus.
• Market-leading company-paid flexible health and dental benefits, starting on your first day.
• Flexible dollars provided by the company to put towards Health Spending Account and/or Wellness Spending Account.
• Immediate participation in DC Pension Plan with an automatic 5% employer contribution, plus optional company match.
• Generous time off including vacation, personal days, unplanned time, Statutory Holidays, and company-wide early closure half-days.
• Learning and development programs and resources, including unlimited access to LinkedIn Learning, Education Assistance Program, and reimbursement for professional fees.
• Maternity, Parental & Adoption Leave top-up program.
• Employee Referral Program, Recognition & Rewards Platform.

About Munich Re:

Together, we engage with everything we have and are, to help humankind act braver and better.

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.

Our data, our technology, and our teams place us in a unique position to drive transformative change in the life insurance industry. We invest strategically in our world-class talent, offering our employees a work experience that promotes professional development, innovation, and rewards high performance.

Please note that only candidates who are selected for interview will be contacted directly. We thank all candidates for their interest.

Munich Re 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.