Actuarial Associate, Biometric Research

Position Overview

You are an actuarial candidate that is passionate about experience studies and making data driven assumptions about what will happen in the future. As an Actuarial Associate in the Biometric Research department, you will perform experience studies, develop assumptions, and work on research projects across multiple lines of business in both Canada and the United States. You will report to the Director, Biometric Research and work alongside actuaries within the team as well as those in other departments in order to develop your skills and deliver high quality results. You can expect to learn skills in data analysis & transformation, experience analysis, and assumption construction while working with some of the largest and richest datasets in the North American insurance industry.

Your Role:

• Contribute to the build, analysis, and presentation of mortality/morbidity/lapse experience studies for individual life, living benefits, and group insurance products
• Assist in the development of new business assumptions focused on mortality/morbidity/lapse bases in both Canada and the United States
• Support the Pricing teams by providing and reviewing client focused experience studies for new business quotes and inforce transactions
• Participate in North American and global Biometric Research special projects and initiatives
• Collaborate extensively with other departments including Pricing, Corporate Actuarial, Reinsurance Operations, Risk Management, and Integrated Analytics on studies, assumptions, and research
• Continually review and improve the experience analysis and assumption development processes
• Provide technical peer reviews for other team members

Your Profile:  

• University Degree in Actuarial Science, Finance, Statistics, and/or Mathematics
• Exam progression towards ASA/FSA
• 1-3 years experience in an actuarial field, preferably the Individual Life and Health insurance/reinsurance industry
• Strong technical proficiency and data analysis capabilities
• Proven ability to build and maintain effective working relationships with clients and/or colleagues
• Excellent communication skills demonstrated through clear verbal interactions and well-structured written documents
• Superior attention to detail and accuracy
• Strong problem solving and organizational skills
• Ability to work effectively under tight deadlines
• Adaptability in fast-paced and dynamic environments
• Proficiency in Excel and experience with other Microsoft Office applications
• Knowledge of SQL, R, and/or Python is an asset

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

Our base salary range for this role is between $85,785 and $114,345 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.

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.