Skip to main content
Get Job Alerts Saved Jobs View All Jobs

Director, Corporate Actuarial

Location Toronto, Canada Job type Full-Time Work mode Hybrid Job level Management & Leadership Job ID 11826 Company Munich Reinsurance Company of Canada Employment type Regular Area of expertise Actuarial & Risk Management
Apply Now

Director, Corporate Actuarial

We care for humankind – and that starts with our people
Our greatest strength lies not in what we do – but how we do it. It’s the unique individual behind every piece of work who matters the most. Our people make Munich Re a global success.  Working at Munich Re gives us access to the depth, breadth, and mindset we want in order to develop our full potential. That’s why a career at Munich Re is much more than just a job. It’s an invitation to be your very best and make a positive impact on the world.

Overview 
Do you enjoy building relationships and working collaboratively in a team environment with both internal, external and global stakeholders? Do you possess strong analytical and investigative competencies?  As someone with excellent communication skills and business acumen, you will utilize exceptional interpersonal and influencing skills across all levels of the organization.  

We’re looking for our next Director, Corporate Actuarial.  Could It Be You?
This role supports Temple Insurance, a wholly owned P&C carrier, which was established to strategically complement Munich Re operations in Canada.  Temple Insurance, as a Canadian licensed insurance carrier, enables business units across the Munich Re Group to write direct P&C business in Canada.  Reporting to the VP, Corporate Actuarial, the director will be responsible for leading, communicating, and streamlining the quarterly nominal and IFRS 17 reserving and forecast analysis for the business of Temple Insurance Company.

Need more details? Keep reading…
Responsibilities include:
•    Leading the quarterly review of actual and forecasted policy liabilities, including setting of assumptions and interpreting the nominal and IFRS 17 resultsDriving automation and complexity reduction and transitioning towards new ways of collaboration
•    Ensure alignment of local reserving practices and processes with Munich Re Group-wide standards and tools while meeting accepted actuarial practice as per CIA and regulatory requirements.
•    Be a change agent in to help business stakeholders understand nominal and IFRS 17 results and present results to senior executives
•    Actively engage with Finance during the quarterly closing processes and support local regulatory financial reporting
•    Support Group financial reporting through quarterly reporting to Central Reserving using Group standard tools.
•    Compilation of quarterly reserving management reporting, complete with analysis and communication, including local/group management/board presentations
•    Maintains active communication with claims, underwriting and pricing – ensuring strong understanding of claims reserving philosophy, the portfolio and pricing.
•    Coordinate and respond to requests from peer reviewers, auditors and regulators
•    Drive operational efficiency and ensure high standards of accuracy, transparency, and consistency across reserving processes.
•    Collaborate with reserving teams across the Group’s international entities and with Central Reserving in Munich to exchange knowledge, align tools and processes, and effectively leverage Group wide expertise.
•    Maintain strong collaboration across Claims, Underwriting, Pricing, Finance, Risk, and the Group Central Reserving Department in Munich for various financial reporting, modelling, and data assumptions/trends as well as the development of a high performing actuarial team.
•    Manage the preparation of the Appointed Actuary Report annually.
•    Support the Appointed Actuary with work related to Financial Condition Testing.
•    Leveraging analytics to reinforce presentation of results
•    Keeping abreast of the Canadian Property & Casualty industry knowledge and developments
•    Responsible for performance management, mentoring, and developing staff.

So are YOU our next Director, Corporate Actuarial? You are if…

First and foremost, we’re looking for well-rounded individuals who are professional, have great communication skills, and demonstrate the ability to build strong relationships with both internal and external clients.  You’ll be joining an energetic and goal-oriented team that uses a collaborative approach to working within all areas of the company, and focuses on achieving the greater objectives of Munich Re.

Specifically, we’re looking for the following qualifications:
•    A Bachelors’ Degree in Actuarial Sciences or Equivalent. 
•    ACAS/ACIA (Associate of Casualty Actuarial Society/Canadian Institute of Actuaries) or equivalent actual credential is required
•    FCAS/FCIA (Fellow of Casualty Actuarial Society/Fellowship of the Canadian Institute of Actuaries) or equivalent actuarial credential is desired.
•    Minimum of  eight (8) years of knowledge and experience in property & casualty industry.
•    Experience with reserving is required
•    Experience with reinsurance and financial reporting & forecasting is preferred.
•    Ability to influence and make technical decisions (e.g. modeling decisions, data decisions) with demonstrated sound judgement in actuarial decision making
•    Keen problem solving skill, strategic thinking, and business acumen
•    Well developed organizational skills, with the ability to analyze current processes and procedures and recommend and implement improvements
•    Superior attention to detail and accuracy
•    Ability to work independently and in a team environment
•    Ability to work in all areas of the company collaboratively to achieve results under tight deadlines
•    Ability to handle a number of diverse projects and coordinate the activities of others in a performance oriented culture
•    Advanced Software/application knowledge, including MS Word, Excel and PowerPoint
•    Knowledge in insurance-related databases, SAS, SQL, R, and/or Python is an asset

Please note that direct reports for this role may include Associate Actuary/Actuarial Associate, Analyst, Actuarial and Co-op resources

In addition to an exciting job opportunity, we offer the following…
•    You will be exposed to challenging projects and development opportunities to grow your skills and career with both local and global colleagues and partners.  
•    A comprehensive total rewards financial program which includes extensive flexible benefits and pension. 
•    A hybrid work environment in an inspiring physical workplace setting.
•    Educational Assistance Programs that continue to recognize your on-going success.
Click on the link to apply…

Munich Re Canada 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.

Our base salary range for this role is between $122,485 and $158,510 per year, plus an opportunity for an annual company bonus based upon a percentage of eligible pay. The salary estimate displayed represents the typical salary range for candidates hired in this position. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to internal equity.

This role is located in our Toronto office on 390 Bay St, and we operate in a hybrid work model. This job posting is for an existing vacancy. 

We do not use AI in our recruitment process - applications are reviewed by our team to ensure a fair and personalized experience.

Apply Now

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.

See the area you’ll be working in

Get an idea of what your daily routine around the office can be like.

Explore Location

This may interest you

Featured Jobs

View jobs to show jobs list.

Save jobs to show jobs list.

View All Jobs

Activate your job alert

Looking for the ideal professional challenge? Stay informed with the Munich Re Group job alert service: Munich Re, ERGO Group and MEAG offer a wide range of opportunities. Once you have set up the service, you'll receive automatic email updates on new job vacancies that match your search criteria.

Interested InPlease select a category, location, and/or company option. Click “Add” to create your job alert. You can add more than one combination to your alert.

By signing up, I acknowledge that I have read the privacy policy, and I wish to receive email communications.

To complete the Job Alert, your e-mail address, and the filter criteria you selected will be processed. The processing of the data is exclusively for the purpose of sending the Job Alert e-mails. With deletion of the Job Alert, your data will also be deleted. You can find further information about our imprint here: Privacy Policy.