Actuarial Associate

Description:

Munich Re, Canada (Life) is seeking a highly motivated Actuarial Associate to join its Corporate Actuarial team focused on North American Model Development (Valuation). This full-time hybrid position is based in the Greater Toronto Area and plays a critical role in advancing AXIS modeling capabilities to support financial reporting and strategic analysis for Life & Health reinsurance business in Canada and the US.

In this role, you will collaborate closely with cross-functional teams, including Pricing, Global Actuarial Consulting Group, Enterprise Risk Management, Biometric Research, and Reinsurance Operations. The role spans multiple lines of business including Individual Life, Disability Income, Critical Illness, Long-Term Care, and Group Reinsurance, providing excellent exposure and professional development opportunities.

Key Responsibilities:

• Design, implement, test, and quantify the impact of model enhancements, new AXIS functionalities, and process improvements

• Integrate new treaties and pricing models into the valuation framework and analyze the financial impact

• Present modeling changes and results to the Corporate Actuarial team

• Maintain North American valuation modeling standards in alignment with evolving industry best practices

• Ensure compliance with documentation and quarterly control processes under the internal risk framework

• Support cross-functional collaboration with other departments and contribute to company-wide efficiency and transformation initiatives

Required Qualifications:

• University degree in Actuarial Science, Mathematics, Finance, or Statistics

• Progression toward ASA or FSA designation

• Minimum of 1+ years of actuarial experience in insurance or reinsurance

• Technical skills: Experience with AXIS, Datalink, SQL Server, Excel, Power Query/BI

• Strong analytical, organizational, and problem-solving capabilities

• Excellent communication and interpersonal skills

• Proven ability to manage deadlines and work in a dynamic, high-performance team environment

What Munich Re Offers:

• Competitive compensation package with annual company bonus

• Market-leading health and dental benefits from day one

• Hybrid work model with flexible in-office/remote schedule

• Company-funded Defined Contribution Pension Plan with automatic and matched contributions

• Health & Wellness Spending Account

• Paid vacation, personal days, unplanned time, and early closure half-days

• Maternity, Parental, and Adoption Leave top-ups

• Education assistance, professional fee reimbursement, and unlimited LinkedIn Learning access

• Focused Fridays and meeting-free lunch hours

• Recognition & Rewards Platform, and Employee Referral Program

About Munich Re:
Munich Re is a global leader in reinsurance, offering innovative solutions to manage risk and enable progress. With over 40,000 employees in more than 50 countries, the company leverages data, technology, and expert teams to transform the insurance industry. Munich Re is committed to diversity, inclusion, and the well-being of its workforce, promoting a culture of collaboration and forward-thinking innovation.