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Sr. Actuarial Associate (Enterprise Risk Management)

Location Munich, Germany Date posted 09/26/2025 Job type Full-Time Work mode Hybrid Job level Professional Job ID 9507 Company Munich Re, Canada (Life) Employment type Regular Area of expertise Actuarial & Risk Management
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Position Overview

Sr. Actuarial Associate (Enterprise Risk Management) will support the development, implementation, monitoring, and reporting of an enterprise-wide integrated risk management infrastructure for the life reinsurance operations from a non-financial risk perspective. The responsibilities will also involve evaluation of new products and/or business proposals from a non-financial risk perspective.

Your Role:

Risk Management Framework and Reporting

  • Participates in the development, implementation, and monitoring of the enterprise risk framework for North American Enterprise Risk Management with a focus on non-financial risks.
  • Supports responses to industry and regulatory requests, such as those from the Office of the Superintendent of Financial Institutions (OSFI) or the Canadian Life and Health Insurance Association (CLHIA).
  • Prepares risk management policies and reports, such as the quarterly internal risk reports.
  • Presents non-financial risk topics to senior leadership to increase awareness of risk exposures at the company.

Data Privacy and Strategic Data Initiatives

  • Review and assess new data initiatives from an operational, privacy, and confidentiality perspective.
  • Review clients’ and third-party data vendor’s contracts for new transactions or initiatives, including treaties, Statements of Work (SoWs), Master Service Agreements (MSAs), Non-Disclosure Agreements (NDAs).
  • Prepares the risk assessment of data initiatives.

Operational Risk Management

  • Collects and reports operational risk events for quarterly reporting to Munich Re IRM.
  • Supports the North American ORCS (Operational Risk and Control Systems) challenge function process.
  • Provide support on record retention processes and updating the Munich Re Data Inventory.
  • Provide support and risk assessments on vendors via Munich Re’s Third Party Risk Management Program.

Your Profile:  

  • University Degree in Actuarial Science, Business Administration, or Risk Management.
  • 3-5 years of experience in the insurance/reinsurance industry, preferably with Risk Management or Actuarial experience.
  • ASA designation or working towards ASA
  • Ability to make operational and technical decisions related to risk management (e.g. priority of work, process design, data decisions)
  • Advanced software/application knowledge of Microsoft Office suite – MS Word, Excel, PowerPoint
  • Strong analytical, problem solving, strategic thinking and business acumen skills
  • Ability to establish and maintain good working relationships with other departments
  • Project management skills and experience

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:

  • 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 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

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. 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.

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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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