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About the Role

As an Actuarial Associate, you will start your career within one of Munich Re's departments, working closely with actuarial and business units on meaningful industry problems. You will apply collaborative approaches to deliver high-quality solutions for internal and external clients, receiving ongoing support and training to become a future leader in the field.

Responsibilities

• Assist with the completion of experience studies and assumption development across multiple lines of business (Life, Critical Illness, Disability, Long Term Care).
• Perform experience analysis for new business and inforce pricing quotes.
• Work on research projects pertaining to biometric risks.
• Collaborate with many different functions across the company to provide expertise and set assumptions for calculating policy liabilities.
• Build and manage complex actuarial models.
• Learn the details of current and upcoming regulations.
• Perform analysis of the business.
• Work closely with other departments to develop creative solutions.
• Provide actuarial consulting services to departments and business units across Munich Re globally.
• Balance multiple projects, build consulting and client communication skills.
• Understand key drivers in profitability due to changes in assumptions, reinsurance agreements, industry trends, and product design.
• Develop client strategies.
• Report profitability to senior management.
• Conduct market research.
• Quote on special business.

Requirements

• Bachelor’s or Master’s degree in Actuarial Science, Mathematics, Statistics, Finance, Risk Management, or equivalent program – in strong academic standing.
• Completion of at least two actuarial exams with demonstrated progress towards ASA designation required.
• Relevant work experience, having completed at least one relevant internship or co-op work term in the Canadian Life and Health Insurance/Reinsurance industry.
• Experience in financial analysis, modelling, and reporting.
• Advanced Microsoft Excel skills.
• Excellent communication skills – spoken & written, formal/informal presentation.
• Demonstrated ability to create and manage positive professional relationships with good client service acumen.
• Proven capability to multi-task and successfully self-manage multiple priorities and projects of various significance in both individual and team settings.
• Solid organizational skills and rigorous attention to detail/accuracy in a fast-paced environment.
• Demonstrates leadership qualities – clear-thinking, curiosity, integrity, and drive.
• Open to both graduating students and recent graduates who have obtained their degree within the past year.

Skills

• Microsoft Excel
• SQL
• Microsoft Access
• GGY Axis
• DataLink
• Python
• R
• Java
• VBA

Location

• Toronto, ON

Work Type

• Hybrid

Experience Level

• Entry-level

Education Level

• Bachelor's degree
• Master's degree

Salary/Compensations

• $87,000 - $116,000 per year

Benefits

• Comprehensive Actuarial Student Program offering paid study time, exam fee reimbursement, study resources, and rewards for achieving exam milestones
• Engaging and collaborative environment that promotes continuous learning and development
• Hybrid work environment that combines weekly in-office and remote days with Meeting-Free lunch hours and Focus Friday afternoons
• 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 5% 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

About the Company

• Munich Re is 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, enabling fundamental change.
• Munich Re recognizes Diversity, Inclusion, and Belonging as a key priority with a culture that welcomes different thoughts and opinions.
• Munich Re dares to think big and is continuously innovating on behalf of its clients.
• Munich Re's data, technology, and teams place it in a unique position to drive transformative change in the life insurance industry.
• Munich Re invests strategically in its world-class talent, offering employees a work experience that promotes professional development, innovation, and rewards high performance.
• Munich Re Canada (Life) is recruiting for its 2027 team of permanent entry-level Actuarial Associates.

Equal Opportunity

• 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.