Montreal

Qualified

Senior Actuary

Life

Investments

Health

Reporting

Reinsurance

Risk

Modelling

Bulk Annuities

Pricing

Longevity

Excel

AXIS

Munich Re is a global reinsurance company based in Germany. Established in 1880, it is one of the world's largest reinsurers. Munich Re provides risk transfer and risk management solutions to insurance companies and clients worldwide. With a strong focus on technical expertise and innovation, it plays a vital role in supporting the insurance industry and managing complex risks.

Munich Re

Director &amp; Actuary, Ind. Reinsurance Sol./Directeur et Actuaire, Solutions de Réassurance IndividuelCompany: Munich Re, Canada (Life)Location: Montreal City, CanadaPosition Overview:Reporting to the Assistant Vice President and Actuary, Individual Reinsurance Solutions, you will play an important role in the pricing of new individual life reinsurance transactions to ensure that Munich Re remains a leading reinsurer.Specifically, you will be responsible for assessing reinsurance opportunities, developing business in the Quebec and Atlantic markets while maintaining strong relationships with existing clients, and contributing to the management of a portfolio spanning multiple lines of business (life insurance, critical illness, and disability insurance).This position requires in-depth technical expertise, excellent knowledge of individual insurance, and strong business relationship skills.Your Role:Business Development:<ul><li>Develop strong, trust-based relationships with key decision-makers at current and potential client companies, and support relationships established by other Munich Re team members with those decision-makers.</li><li>Monitor market developments (competitors, insurers, regulators, etc.) that impact individual reinsurance. Maintain strong market visibility by meeting with insurers and participating in industry events.</li><li>Collaborate with the Digital Solutions team to build connections and strengthen our capabilities and reputation regarding our digital platform and both traditional and non-traditional reinsurance agreements.</li></ul>Client Relationship Management:<ul><li>Respond to client needs in a timely manner and be perceived as a business partner.</li><li>Maintain strong relationships with key clients to support the retention of profitable treaties.</li><li>As an account manager, develop solid, meaningful, and professional relationships with internal departments (group pricing, treaties, underwriting, claims, biometric research, etc.).</li></ul>Transaction Pricing:<ul><li>Work closely with the Assistant Vice President and Head of Pricing to assess reinsurance opportunities in individual insurance, including traditional reinsurance, in-force block deals, insurtech partnerships, and product development. Specific tasks may include:</li><li>Evaluate RFP documents, product information, and underwriting processes to establish assumptions and reinsurance pricing models.</li><li>Collaborate with other teams such as biometrics, analytics, and underwriting to gain a full understanding of key biometric risks.</li><li>Supervise, review, and guide the work of analysts and actuaries, including reviewing actuarial models and results.</li><li>Present pricing results to stakeholders to obtain their support, including the AVP, Head of Pricing, risk management team, and senior management.</li><li>Negotiate reinsurance terms with clients to meet profitability objectives.</li><li>Work on treaty clauses with clients to ensure Munich Re has the necessary protections.</li></ul>People Management:<ul><li>Support a team of analysts and actuaries by helping them develop their skills and by acting as a mentor.</li></ul>Business Management:<ul><li>Improve the pricing process by continuously refining tools and models used to support new business pricing.</li><li>Monitor business profitability and performance to improve future pricing processes.</li><li>Understand the dynamics that influence business profitability and ensure that issues are identified early.</li></ul>Your Profile:<ul><li>Bachelor’s degree in actuarial science, mathematics, or statistics.</li><li>Fellowship designation.</li><li>Minimum of 7 years of relevant experience.</li><li>Advanced oral and written proficiency in both French and English required.</li><li>Experience in individual insurance and/or reinsurance required.</li><li>Ability to close deals – results-oriented and able to secure buy-in for desired agreements.</li><li>Strong ability to market oneself and sell ideas/solutions to internal and external clients.</li><li>Ability to conceptualize and implement business solutions related to actuarial issues.</li><li>Technical expertise with the ability and interest to learn new skills and effectively transfer existing skills to other team members.</li></ul>About Munich Re: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.What Can We Offer You?We are pleased to offer our employees great benefits and resources to support their mental, physical and financial wellbeing. These include:<ul><li>An engaging and collaborative environment that promotes continuous learning and development.</li><li>A hybrid work environment that combines weekly in-office and remote days with Meeting-Free lunch hours and Focus Friday afternoons.</li><li>A great compensation package including annual company bonus.</li><li>Market leading company-paid flexible health and dental benefits, starting on your first day.</li><li>Flexible dollars provided by the company to put towards Health Spending Account and/or Wellness Spending Account.</li><li>Immediate participation in DC Pension Plan with an automatic 5% employer contribution, plus optional company match.</li><li>Generous time off including vacation, personal days, unplanned time, Statutory Holidays and company-wide early closure half-days.</li><li>Learning and development programs and resources, including unlimited access to LinkedIn Learning, Education Assistance Program and reimbursement for professional fees.</li><li>Maternity, Parental &amp; Adoption Leave top-up program.</li><li>Employee Referral Program, Recognition &amp; Rewards Platform.</li></ul>Please note that only candidates who are selected for interview will be contacted directly. We thank all candidates for their interest.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.Relevant du Vice-président adjoint et actuaire, Solutions de réassurance individuelle, vous jouerez un rôle important dans la tarification de nouvelles transactions de réassurance en assurance individuelle afin d’assurer que Munich Re demeure un réassureur de premier plan.Plus précisément, vous serez responsable d’évaluer les occasions de réassurance, de faire du développement d’affaires pour les marchés du Québec et de l’Atlantique tout en maintenant des relations solides avec nos clients existants, et de contribuer à la gestion d’un portefeuille comprenant plusieurs lignes d’affaires (assurance vie, maladies graves et invalidité).Ce poste exige une expertise technique approfondie, une excellente connaissance de l’assurance individuelle ainsi qu’une facilité à développer des relations d’affaires.Responsabilités:Développement des affaires:<ul><li>Développer des relations solides et de confiance avec les décideurs clés des entreprises clientes actuelles et potentielles, et soutenir les relations établies par d’autres membres de Munich Re avec ces décideurs.</li><li>Surveiller les développements du marché (concurrents, assureurs, organismes de réglementation, etc.) ayant une incidence sur la réassurance individuelle.</li><li>Maintenir une forte visibilité sur le marché en rencontrant les assureurs et en participant aux événements de l’industrie.</li><li>Collaborer avec l’équipe des Solutions numériques pour établir des contacts et renforcer notre capacité et notre réputation en lien avec notre plateforme numérique et les ententes de réassurance traditionnelles et non traditionnelles associées.</li></ul>Gestion des relations clients:<ul><li>Répondre aux besoins des clients en temps opportun et être perçu comme un partenaire d’affaires.</li><li>Maintenir des relations solides avec les clients clés afin de favoriser la rétention des traités rentables.</li><li>En tant que gestionnaire de compte, développer des relations solides, significatives et professionnelles avec les autres départements internes.</li></ul>Tarification des transactions:<ul><li>Travailler en étroite collaboration le vice-président adjoint et le chef de la tarification pour évaluer les occasions de réassurance en assurance individuelle.</li><li>Évaluer les documents d’appel d’offres (RFP), les informations sur les produits et les processus de sélection pour établir les hypothèses et les modèles de tarification de la réassurance.</li><li>Collaborer avec d’autres équipes telles que la biométrie, l’analytique et la sélection des risques pour bien comprendre les risques biométriques clés.</li><li>Superviser, réviser et guider le travail des analystes et des actuaires.</li><li>Présenter les résultats de tarification aux parties prenantes afin d’obtenir leur appui.</li><li>Négocier avec les clients les modalités de réassurance afin de rencontrer les objectifs de rentabilité.</li><li>Travailler les clauses de traités avec les clients afin d’assurer la protection nécessaire pour Munich Re.</li></ul>Gestion de personnel:<ul><li>Soutenir une équipe d’analystes et d’actuaires en les aidant à développer leurs compétences.</li></ul>Gestion des affaires:<ul><li>Améliorer les processus de tarification en raffinant continuellement les outils et les modèles utilisés pour soutenir la tarification des nouvelles affaires.</li><li>Surveiller la rentabilité et la performance des affaires afin d’améliorer le processus pour les tarifications futures.</li><li>Comprendre les dynamiques qui influencent la rentabilité des affaires et s’assurer que les problèmes soient détectés rapidement.</li></ul>Exigences:<ul><li>Baccalauréat en actuariat, mathématiques ou statistiques.</li><li>Titre Fellow de la SOA ou de l’ICA.</li><li>Un minimum de 7 ans d’expérience pertinente.</li><li>Maîtrise du français et de l’anglais de niveau avancée à l’oral et à l’écrit nécessaire.</li><li>Expérience en assurance individuelle et/ou en réassurance requise.</li><li>Capacité à conclure des ententes en étant axé sur les résultats.</li><li>Forte capacité à se vendre et à vendre ses idées/solutions aux clients internes et externes.</li><li>Capacité à conceptualiser et à mettre en œuvre des solutions d’affaires liées aux enjeux actuariels.</li><li>Maîtrise technique en ayant la capacité et l’intérêt d’apprendre de nouvelles compétences.</li></ul>

Director & Actuary, Longevity & Structured ReinsuranceCompany: Munich Re, Canada (Life)Location: Montreal City, CanadaThe Director & Actuary, Longevity & Structured Reinsurance will play a significant role in evaluating and pricing new reinsurance transactions in our fast-growing longevity and structured reinsurance line of business. You will be responsible for evaluating reinsurance opportunities, collaborating internally and externally to establish new partnerships, and helping manage a growing book of multi-line business.This position requires substantial technical expertise and market knowledge of group and individual annuities, pension risk transfer solutions, and individual life insurance. You’ll have the opportunity to work on high-impact projects including executing growth strategies, market research, developing novel reinsurance solutions, and quoting on large transactions.Transaction PricingWork closely with the head of department and pricing team to evaluate and quote on reinsurance opportunities which may include traditional reinsurance, pension risk transfer, inforce block transactions, structured reinsurance solutions, and product development. Specific tasks performed may include:<ul><li>Evaluating RFP material, product information, underwriting, and subject business due diligence to establish assumptions and models for reinsurance pricing.</li><li>Collaborating with other teams such as biometric research, corporate actuarial, and risk management to achieve a deep understanding of key risks.</li><li>Presenting pricing results to key stakeholders including heads of departments and senior management to receive support for transactions.</li><li>In certain transactions, working with Munich Re’s global functions to establish appropriate off-shore reinsurance solutions and managing the internal approval process with central functions as required.</li></ul>Business Management<ul><li>Pricing process improvements through the continual refinement of models and methodologies used in the support of new business pricing.</li><li>Monitor profitability and business performance to create a feedback loop for future pricing and assumption updates.</li><li>Repricing and renewals of existing transactions, as required per the treaty terms.</li><li>Support execution and onboarding of transactions including drafting and negotiating treaties, coordinating with corporate actuarial and accounting functions on reinsurance administration and reporting.</li></ul>Special Projects<ul><li>Lead the pricing and analysis in more technical projects, e.g., mortality table and improvement assumption development.</li><li>Research and development of new reinsurance solutions to help address challenges and opportunities of our clients, which include balance sheet optimization, income volatility protection, enhanced returns, access to additional capital and liquidity.</li></ul>Your Profile<ul><li>University Degree in Actuarial Science, Statistics, or Mathematics.</li><li>FCIA/FSA designation.</li><li>5-10 years experience in the Canadian Life and Health insurance/reinsurance industry.</li><li>Minimum 5 years experience in the Canadian Pension Risk Transfer / Group Annuity market with an insurer, reinsurer, or consultant.</li><li>Strong analytical, modeling, and problem-solving skills.</li><li>Pricing and product development experience preferred.</li><li>Excellent communication and presentation skills.</li><li>Ability to conceptualize and implement business solutions regarding actuarial issues.</li><li>Technical proficiency with the ability and interest to learn new skills and successfully transfer existing skills to others in the group.</li><li>Advanced software/application knowledge including Excel, PowerPoint, Word, Axis, and SQL.</li></ul>What Can We Offer You?We are pleased to offer our employees great benefits and resources to support their mental, physical, and financial wellbeing. These include:<ul><li>An engaging and collaborative environment that promotes continuous learning and development.</li><li>A hybrid work environment that combines weekly in-office and remote days with Meeting-Free lunch hours and Focus Friday afternoons.</li><li>A great compensation package including an annual company bonus.</li><li>Market-leading company-paid flexible health and dental benefits, starting on your first day.</li><li>Flexible dollars provided by the company to put towards Health Spending Account and/or Wellness Spending Account.</li><li>Immediate participation in DC Pension Plan with an automatic 5% employer contribution, plus optional company match.</li><li>Generous time off including vacation, personal days, unplanned time, statutory holidays, and company-wide early closure half-days.</li><li>Learning and development programs and resources, including unlimited access to LinkedIn Learning, Education Assistance Program, and reimbursement for professional fees.</li><li>Maternity, Parental & Adoption Leave top-up program.</li><li>Employee Referral Program, Recognition & Rewards Platform.</li></ul>About Munich ReTogether, 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.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.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.

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