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Manager Financial Reporting and Analysis

Location Toronto, Canada Job type Full-Time Work mode Hybrid Job level Professional Job ID 14038 Company Munich Re, Canada (Life) Employment type Regular Area of expertise Finance, Accounting & Controlling
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Position Overview

  • Works closely with the AVP to assist with quarterly expense close, Budget/Plan and Forecast processes.
  • Supports ongoing and future ad-hoc projects, such as the One GT, while working closely with various stakeholders within and outside the finance team.
  • Prepares various working papers for the completion of MLMC’s financial statements and provides supporting information to auditors, tax and other stakeholders.
  • Maintains working papers, prepares reconciliations and processes journal entries on an ongoing and needed basis..

Your Role:

Financial Reporting & Analysis

  • Assists in review of MLMC and Pension funds financial statements (including notes and analysis) for quarterly, year-end reporting and annual audits.
  • Oversee the quarterly close process ensuring completeness and integrity of financial records, and accuracy and timeliness of reporting.
  • Assists in group reporting on a quarterly basis which includes preparation of data files, and analyzing key variances, reviewing dashboards, and aligning with finance leadership before providing narratives to head office.
  • Supports implementation of new processes as needed, including changes relating to accounting standards and policies .

Expenses Reporting & Analysis

  • Assists with the preparation of the annual expense plan in coordination with department representatives for final submission to Head Office for approval.
  • Analyzes quarterly expenses by cost centers and cost elements, including comparison of approved current year plan, current / previous forecasts, and previous year actuals to identify variances and prepare quarterly report explaining the key expense variance analysis.
  • Develops PBI dashboards, prepares narratives and facilitates forecast discussions with senior leadership team to align on full year expense outlook.
  • Monitors the entries in the GL for alignment with the SAP Cost Module (CO) structure and for compliance with Munich Re Group’s accounting guidelines.
  • Coordinates intercompany consolidation reporting requirements, analyzes and reconciles intercompany accounts including intercompany quarterly billing in a timely manner.
  • Independently compiles inter-departmental reports capturing relevant quarterly data related to expenses.
  • Reviews various industry surveys and reports related to Stats Canada, CLHIA, OSFI, etc.

Other Responsibilities

  • Supports the implementation of ERP systems such as SAP One GT by working closely with the AVP and Sr. Accountant.
  • Provides decision-making support with strategic initiatives (e.g., GFL, 3PD, Longevity, etc.).
  • Develops and maintains relationships with external and internal stakeholders, provides excellent customer service, and promptly responds to inquiries/requests with accuracy.
  • Updates and maintains accounting documentation current including adhering to company retention policy.

Your Profile:  

First and foremost, the successful candidate will demonstrate a natural desire to provide exceptional client service through his/her energy, enthusiasm and initiative.

In addition, we are looking for the following qualifications:

  • Qualified CPA with a focus on accounting is required.
  • 5+ years related experience in financial reporting and analysis preferably in the insurance industry.
  • Experience with SAP GL, AP, CO and Cash Management modules.
  • Advanced skills in Excel, PowerPoint, Word and SAP Business Warehouse (BW) Reports.
  • Experience with analytical tools such as Power BI would be as asset.
  • Ability to present financial information in a concise and clear manner.
  • Excellent analytical and problem-solving skills.
  • Superior attention to detail and accuracy.
  • Ability to manage multiple priorities and meet deadlines.
  • High degree of flexibility to adapt to changing priorities and demands.
  • Strong communication and interpersonal skills and the ability to work in a team environment.
  • Superior time management, communication and organizational skills.
  • Ability to make continuous improvements to processes with an emphasis on automation.

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.

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
  • A great compensation package including 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 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

Our base salary range for this role is between $122,000and $159,000 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.

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. 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.

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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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