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Actuarial Associate

Location Toronto, Canada Job type Full-Time Work mode Hybrid Job level Professional Job ID 11825 Company Munich Reinsurance Company of Canada Employment type Regular Area of expertise Actuarial & Risk Management
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Actuarial Associate 

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?
This role supports Temple Insurance, a wholly owned P&C carrier, which was established to strategically complement Munich Re operations in Canada.  Temple Insurance, as a Canadian licensed insurance carrier, enables business units across the Munich Re Group to write direct P&C business in Canada.   Reporting to the Director, Corporate Actuarial, the Actuarial Associate will support the on-going quarterly reserving and reporting analysis for the primary business of Temple Insurance Company.

Need more details? Keep reading…

•    Support quarterly nominal and IFRS 17 reserving and reporting work, including setting of assumptions, selection of appropriate methodologies and QA processes.
•    Assist with preparation of presentation of quarterly reserving results, nominal and IFRS17 bases, for various stakeholders including Central Reserving, senior management and the Board.
•    Streamline procedures and methodologies to improve the efficiency and accuracy of the reserving process.

•    Collaborate with reserving teams across the Group’s international entities and with Central Reserving in Munich to exchange knowledge, align tools and processes, and effectively leverage Group wide expertise.Be a change agent in leveraging analytics to reinforce presentation of results to all internal and external stakeholders
•    Perform deep dive/ad hoc innovative analysis as required
•    Assist in preparing and improving the efficiency in Appointed Actuary Report preparation annually
•    Maintain a collaborative/co-operative working relationship with a number of teams, included but not limited to Claims, Underwriting, Finance, Risk and the Group Central Reserving Department in Munich.
•    Ensure collaboration as well as timely and quality actuarial support to various stakeholders (e.g. underwriting, claims).
Keep abreast of the Canadian and international Property & Casualty industry knowledge and developments
So are YOU our next Actuarial Associate? You are if…

•    You ideally have a Bachelors’ Degree in Actuarial Sciences or equivalent
•    Working towards ACAS/FCAS/equivalent actuarial credential with completion of at least four (4) actuarial examinations
•    You have three (3) to five (5) years of knowledge and experience in the property & casualty industry including reserving  ;
•    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 computer software, including MS Word, Excel and PowerPoint;
•    You have exceptional ability to make technical decisions (e.g. modeling decisions, data decisions), demonstrating sound judgement 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 procedures and recommend and implement improvements;
•    You demonstrate a high degree of flexibility and adaptability to changing environment and situations with an ability to work collaboratively to achieve results under tight deadlines;
•    You are able 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 on-going success.

Click on the link to apply…
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.  If you receive a request for an interview and you have a disability which will require an accommodation to support your participation, please contact AODARequestHR@munichre.ca as soon as practical so that suitable accommodations can be arranged

Our base salary range for this role is between $85,425 and $110,550 per year, plus an opportunity for an annual company bonus based upon a percentage of eligible pay. The salary estimate displayed represents the typical salary range for candidates hired in this position. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to internal equity.

This role is located in our Toronto office on 390 Bay St, and we operate in a hybrid work model. This job posting is for an existing vacancy. 

We do not use AI in our recruitment process - applications are reviewed by our team to ensure a fair and personalized experience.

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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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