Director & Actuary, North American Model Development; Valuation

Position Overview

The Corporate Actuarial team is looking for a Director, North American Model Development (Valuation) for their Toronto office.

You will develop and use leading edge actuarial models and analytics for the analysis and reporting of Life & Health Reinsurance business within a collaborative and inventive team. This role spans all major lines of business—Individual Life, Disability Income, Critical Illness, Long Term Care, and Group—and involves modeling a large, diverse, and growing portfolio. You will have accountability and exposure across a broad range of functions, deepening your technical expertise in both reporting and model optimization, while working closely with actuarial and non‑actuarial teams including Pricing, Global Actuarial Consulting Group, Biometric Research, Enterprise Risk Management, Reinsurance Operations, and Business Transformation.

You demonstrate a consistent need for achievement, a strong work ethic, and a drive to make a difference. You are also an excellent communicator and thrive working in a high‑performing and client‑focused environment with a desire to make an impact. You have the ability to learn quickly, synthesize and implement solutions, and explain technically challenging concepts to other actuarial teams and senior management.

If this sounds like a challenge, this is the right role for you.

Under the direction of the Head of Model Development, Corporate Actuarial, the successful candidate will lead various model development initiatives within the North American Model Development team, which may include but are not limited to:

• Lead a team of Actuaries/Associates to enhance and maintain the valuation AXIS models and improve the valuation process as a whole.
• Build relationships with other departments, maintain regular communication, negotiate priorities, identify opportunities for improvement and address issues as they arise.
• Guide team members in the design, implementation, testing, quantification, and understanding of model enhancements required for reporting.
• Quantify and explain impacts of model changes, new AXIS functionality, and new data under multiple reserving bases (IFRS 17, SII, Stat). Present results/recommendations to management.
• Identify inefficiencies in both modeling and processes and recommend improvements to streamline workflow.
• Maintain the North American Valuation modeling standards and adapt to emerging industry best practices in model design, data & assumption management.
• Develop and enforce controls and documentation of models and processes under the risk control framework.
• Contribute to company‑wide projects to enhance understanding and produce efficiencies.

• Hire, develop and retain a top‑talent team that is engaged and recognized as experts internally within Munich Re and externally with clients and partners.
• Ensure the team has a clear understanding of departmental goals, and that every employee has challenging personal goals.
• Foster a culture of feedback with feedback given to employees and other Munich Re team members.

• University degree in Actuarial Science, Finance, Statistics, or Mathematics.
• FSA/FCIA designation.
• 7+ years of experience in the Life and Health insurance/reinsurance industry.
• Advanced knowledge of AXIS and Datalink, SQL, Excel, Power Query/BI.
• Established knowledge of the North American insurance product market.
• Strong analytical, problem‑solving, and financial modeling skills. Comfortable working with complex calculations.
• Strong communication, interpersonal and influencing skills across all levels of the organization.
• Ability to establish and maintain good working relationships with other departments.
• Demonstrated flexibility, effectiveness working under tight timelines, and ability to adapt in a dynamic environment.
• Superior attention to detail and accuracy.
• Project management skills and experience.

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…