Manager & Actuary, Corporate Actuarial (Valuation and Reporting)

Manager, Corporate Actuarial

In keeping with our global position as an industry leader and innovator, Munich Re is driving transformative change in the life reinsurance industry. Our innovation strategy sets a new standard in digitization that will radically transform our end-to-end business operations and deliver world-class, fully automated business processes and workflows. 

Join Munich Re’s Corporate Actuarial team to accelerate your actuarial career through mastery of reinsurance valuation and reporting methods. You will regularly work with other actuarial teams such as Pricing, Accounting, Biometric Research and ERM, while deepening your expertise and exposure to Solvency II, IFRS17, and various assignments and projects.

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 Director, Corporate Actuarial, the successful candidate will assist in the production of financial information related to valuation, solvency and planning, which may include but is not limited to the examples below.

Key responsibilities:

• Lead quarterly and annual Solvency II / HGB reporting, including quantification of Solvency II technical provisions and capital requirements, quarterly movement analysis and sensitivity testing, cumulating in the production of the annual Valuation Report
• Liaise with Head Office as the local SME of the VBM (Value Based Management) methodology through the measurement and tracking of various new business and inforce metrics.
• Drive process improvements, efficiency and automation initiatives within the Solvency II / HGB reporting framework.
• Communicate and present results to key internal and Head Office stakeholders, with potential exposure to Corporate and Finance senior management teams.
• Support the model and assumption change process, which includes monitoring our biometric assumption experience and proposing changes in the valuation assumptions as needed.
• Assist as required in the preparation and analysis of IFRS 17 reserves, OSFI exhibits (Reserves, Movement, Volumes), and the LICAT (LIMAT) return.
• Ensure a clear understanding of corporate and departmental objectives while providing guidance, training and mentorship to junior employees.
• Collaborate with and support other departments such as Pricing, ERM, Accounting, and Tax as needed.

Your profile

We are looking for the following qualifications:

• University Degree in Actuarial Science, Finance, Statistics, or Mathematics.
• FSA/FCIA qualification
• Prior experience in the Canadian Life and Health insurance/reinsurance industry.
• Strong analytical and financial modeling skills. Comfortable working with fairly complex calculations.
• Superior attention to detail and accuracy.
• Strong problem solving and organization skills.
• 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.
• Demonstrated flexibility and effectiveness working under tight timelines.
• Demonstrated ability to adapt in a dynamic environment.
• Advanced Excel, Word, Access.
• Experience with AXIS and Datalink; SQL

About us

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.