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

Senior Actuarial Auditor

Location Toronto, Canada Job type Full-Time Work mode Hybrid Job level Professional Job ID 9941 Company Munich Re America Employment type Regular Area of expertise Audit, Compliance & Legal
Apply Now

Senior Actuarial Auditor, (North American Audit Hub)

JOB DESCRIPTION

Be a part of a dynamic, global team!  Munich Re’s North American Audit Hub (NAAH) is part of Munich Re’s Global Audit Function responsible for providing audit services to Munich Re’s Canadian and US based business entities. 
As part of the NAAH you provide audit services to assist Senior Management in the achievement of the Company’s strategic objectives. As a trusted advisor, the Senior Actuarial Auditor will independently or through leading engagement teams conduct assessments of Munich Re’s internal control environment through the execution of risk analysis, control evaluation and audit testing procedures. In addition to this, they will build effective relationships while providing independent value-added internal audit services necessary to provide reasonable assurance regarding the effectiveness of governance, compliance, risk management, and internal control systems. 

The Senior Actuarial Auditor is someone who demonstrates the ability to independently lead audits and apply the department’s audit methodology while independently applying actuarial science best practices and procedures. They will have a lead role in all phases of assigned audits from planning to reporting, including understanding business operations, scoping the audit, identifying risks and controls, designing and execution of testing procedures and the writing of audit reports.  

As a trusted advisor, the Senior Actuarial Auditor will:
•    Work independently, primarily conducting audits of actuarial models, risk models, reserving and pricing models as well as other insurance related areas requiring actuarial science including, financial modeling, asset / liability management, capital budgeting, valuation etc. 
•    Support audits as an actuarial / mathematical specialist across all of Munich Re’s North American entities and divisional units, including potential global audits or assignments.  
•    In coordination with management, set overall engagement milestones (planning, fieldwork & reporting) for assigned engagements. Ensure work is completed by self and assigned staff to consistently meet agreed upon milestone dates.
•    Demonstrate proficient technical knowledge of highly complex mathematical and actuarial business processes as well as interpret the associated risks, develop testing approaches, and propose solutions.
•    Effectively communicate control weaknesses and control gaps to Operational management. Make sound recommendations for audit finding rankings and effectively support conclusions during discussions with audit clients.
•    Contribute to continuous improvement (CI) efforts. Lead efforts to solve complex problems making audit processes and procedures more effective and efficient.
•    Effectively use the department’s data analysis software to facilitate audit scoping and testing. Guide staff in the effective use of data analytics.
•    Contribute to the knowledge management and thought leadership initiatives of the Group-wide Center of Competence for Actuarial Audits, sharing expertise and best practices to enhance the overall quality and effectiveness of actuarial audits across the organization. 
•    Exhibit an ability to familiarize yourself with new actuarial topics. Keep abreast of changes in Internal Audit practices, regulatory requirements, Risk frameworks and Actuarial standards and understand their impact to Internal Auditing and Munich Re. (e.g.  COA, SOA, COSO, IFRS, GAAP). Also, propose audit updates based on these changes.

Your Profile…

•    Education: A bachelor's degree in Actuarial Science, Mathematics, Physics or similar quantitative background with and in-depth knowledge of stochastics, statistics and financial mathematics. 
•    Work Experience: At least 5 years of professional experience as an actuary (Property & Casualty / Life) in reinsurance, primary insurance or banking preferably in Underwriting, Pricing, Valuation, Risk Modeling or Internal Audit; several successful years of work experience as a mathematician and / or actuary in primary insurance, reinsurance or banking industry.  
•    Intermediate to advanced knowledge of actuarial science and mathematics practices.
•    Audit experience is not a must, but basic understanding of 2nd and 3rd line of defense approach and tasks required. Knowledge of internal audit practices and financial and operational process documentation will be helpful.
•    Highly skilled in evaluating internal controls, effectively lead / develop an audit team of peers, analyze and solve complex problems, conduct research, and express ideas clearly, concisely and persuasively both verbally and in writing.  
•    A strong understanding of business ethics.
•    Member of a renowned Actuarial Society associated to the IAA (e.g. SoA, IFoA, AIA). Completion of FSA is preferred but not mandatory. Completion of ASA is a must with progress being made towards the completion of fellow of the Canadian Institute of Actuaries (FCIA) designation from the Canadian Institute of Actuaries (CIA) or equivalent from recognized organization.
•    The completion of other insurance or audit related certifications is a plus. 

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.


AI Disclosure...While Munich Re may use AI at various stages of our recruitment process, AI is NOT used in the screening, assessment, or selection of candidates - every application is reviewed by our talent acquisition team to ensure a fair and personalized experience.

Click on the link to apply…Munich Re/Temple Insurance 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.  
At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us.  Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work.  We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day.  We recruit and develop talent with a focus on providing our customers the most innovative products and services.   

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.