At a Glance
- Tasks: Lead a team in financial reporting and analysis for insurance and reinsurance.
- Company: Join a global leader in the insurance industry with a focus on innovation.
- Benefits: Competitive salary, professional development, and a dynamic work environment.
- Other info: Opportunity to develop leadership skills and foster a culture of feedback.
- Why this job: Make a significant impact in a high-performance team recognized globally.
- Qualifications: University degree in Actuarial Science or related field; 7+ years of experience required.
The predicted salary is between 136800 - 167200 $ per year.
Key Accountabilities
- Managing, training and leading a team through the quarter and year-end financial reporting process across all lines of business under both reserving bases (IFRS 17 and Solvency II).
- Ensuring tests and analyses are completed to fully verify accuracy, such as reserve movements and source of earnings analysis.
- Preparing IFRS 17 and SII reports and the quarterly/yearly LICAT (LIMAT) return.
- Summarizing and explaining quarterly financial results to the CFO and other members of the Senior Leadership Team as needed.
- Consolidating cash flows for or leading the production of the annual Financial Condition Test, Business Plan, Value of New Business and various profitability metrics.
- Identifying and developing strategies to optimize capital usage for both MR Group and the Branch through retrocession or other opportunities.
- Providing deal support on large inforce transactions, FinRe and complex structured solutions.
- Preparing reports and liaising with management, regulators, auditors, and the Munich Home Office.
- Monitoring emerging experience and testing of assumption changes as needed.
- Identifying needs of the valuation landscape (both IT and processes) to bring about infrastructure-related improvements.
- Building strong relationships with other departments, maintaining regular communication, identifying opportunities for improvement and successfully addressing issues as they arise.
Leadership
- Contributing to a high-performance team that is highly engaged and recognized as experts both internally and throughout the global Munich Re organization.
- Ensuring the team has a clear understanding of departmental objectives, and that every employee has challenging personal objectives.
- Hiring, developing and retaining a top talent team that is fully engaged and recognized as experts internally within Munich Re and externally with clients and partners.
- Fostering a culture of feedback with timely feedback given to employees and other Munich Re team members.
- Engaging in regular development discussions with employees to coach on career growth and development.
Profile
- University Degree in Actuarial Science, Finance, Statistics, or Mathematics.
- FSA/FCIA
- 7+ years of experience in the Canadian Life and Health insurance/reinsurance industry.
- Strong problem solving and organizational skills.
- Strong communication, interpersonal and influencing skills across all levels of the organization.
- Ability to establish and maintain good working relationships with other departments.
- Demonstrated flexibility and effectiveness working under tight timelines.
- Strong analytical and financial modeling skills. Comfortable working with complex calculations.
- Superior attention to detail and accuracy.
- Experience with the Canadian reinsurance market, traditional re/insurance product features, LICAT capital requirements and profitability metrics is prioritized.
- Familiarity with IFRS 17 and IFRS 9 as it relates to insurance related financial instruments is an asset.
- Experience with AXIS and Datalink.
Director & Actuary, Corporate Actuarial in Toronto employer: Munich Re Group
Munich Re is an exceptional employer that fosters a collaborative and innovative work culture, where Senior Data Engineers can thrive in designing cutting-edge data solutions. Located in a vibrant city, employees benefit from a dynamic environment that encourages professional growth through continuous learning opportunities and mentorship. With a commitment to engineering excellence and a focus on impactful projects, Munich Re offers a rewarding career path for those looking to make a difference in the data landscape.
We think you need these skills to ace Director & Actuary, Corporate Actuarial in Toronto
Leadership
Team Management
Financial Reporting
IFRS 17
Solvency II
Reserve Movements Analysis
Source of Earnings Analysis
