Director & Actuary (Longevity & Structured Reinsurance)

Director & Actuary, Longevity & Structured Reinsurance

Company: Munich Re, Canada (Life)

Location: Toronto, Canada

The 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. Specifically, 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 Pricing

Work closely with the head of the department and pricing team to evaluate and quote on reinsurance opportunities which may include traditional reinsurance, pension risk transfer, in-force block transactions, structured reinsurance solutions, and product development. Specific tasks performed may include:

• Evaluating RFP material, product information, underwriting, and subject business due diligence to establish assumptions and models for reinsurance pricing.
• Collaborating with other teams such as biometric research, corporate actuarial, and risk management to achieve a deep understanding of key risks.
• Presenting pricing results to key stakeholders including heads of departments and senior management to receive support for transactions.
• 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.

Business Management

• Pricing process improvements through the continual refinement of models and methodologies used in the support of new business pricing.
• Monitor profitability and business performance to create feedback loops for future pricing and assumption updates.
• Repricing and renewals of existing transactions, as required per the treaty terms.
• Support execution and onboarding of transactions including drafting and negotiating treaties, coordinating with corporate actuarial and accounting functions on reinsurance administration and reporting.

Special Projects

• Lead the pricing and analysis in more technical projects, e.g., mortality table and improvement assumption development.
• 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.

Your Profile

• University Degree in Actuarial Science, Statistics, or Mathematics.
• FCIA/FSA designation.
• 5-10 years experience in the Canadian Life and Health insurance/reinsurance industry.
• Minimum 5 years experience in the Canadian Pension Risk Transfer / Group Annuity market with an insurer, reinsurer, or consultant.
• Strong analytical, modeling, and problem-solving skills.
• Pricing and product development experience preferred.
• Excellent communication and presentation skills.
• Ability to conceptualize and implement business solutions regarding actuarial issues.
• Technical proficiency with the ability and interest to learn new skills and successfully transfer existing skills to others in the group.
• Advanced Software/application knowledge including Excel, PowerPoint, Word, Axis, and SQL.

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:

• An engaging and collaborative environment that promotes continuous learning and development.
• A hybrid work environment that combines weekly in-office and remote days with Meeting-Free lunch hours and Focus Friday afternoons.
• A great compensation package including an 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 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.

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.