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Senior Actuarial Associate, North America Model Development

Location Toronto, Canada Job type Full-Time Work mode Hybrid Job level Professional Job ID 14261 Company Munich Re, Canada (Life) Employment type Regular Area of expertise Actuarial & Risk Management
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Senior Actuarial Associate, North American Model Development (Valuation)

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

You will develop and use leading-edge AXIS models designed for analysis and reporting for the Life & Health Reinsurance business in Canada and the US. You will regularly work with actuarial and non-actuarial teams such as the 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, think creatively to synthesize and implement solutions, and explain technically challenging concepts to other actuarial teams and senior management. If this sounds like an intriguing challenge, this is the right role for you.

Your Job:

The successful candidate will assist with various model development initiatives within the North American Model Development team, which may include but is not limited to:

  • Design, implement, test, and quantify impacts of model enhancements, new AXIS functionality, process improvements, and modeling changes required for financial reporting
  • Implement new treaties and other pricing based models into the valuation standard model.Analyze impacts to financial reporting as well as pricing metrics
  • Present technical modeling changes and financial results to Corporate Actuarial
  • Maintain the North American Valuation modeling standards and adapt to emerging industry best practices in model design, validation, data & assumption management
  • Ensure models, processes and systems are fully documented and that all processes are completed under the risk control framework
  • Foster a culture of feedback, development, collaboration, and shared success within the model development team
  • Collaborate with and support other departments such as Corporate Actuarial (Valuation Reporting), Pricing, ERM, Biometric Research, Reinsurance Operations, and Business Transformation as needed
  • Contribute to company-wide projects to enhance understanding and produce efficiencies

Your Profile:

  • University Degree in Actuarial Science, Finance, Statistics, or Mathematics.
  • ASA progressing to FSA.
  • Experience with SQL server, AXIS and Datalink, Excel, Power Query/BI.
  • Strong analytical, problem solving and organization skills.
  • Superior attention to detail and accuracy.
  • Excellent communication skills as demonstrated in general conversation, clear, complete responses to internal and external clients, formal presentations and written documents.
  • Ability to establish and maintain good working relationships with other departments.
  • Flexibility and effectiveness working under tight timelines.
  • Demonstrated ability to adapt in a dynamic environment.
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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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