Non-Financial Risk Specialist

Position Overview

The Non-Financial Risk Specialist 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.
• 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.
• Strong analytical, problem solving, strategic thinking and business acumen skills.
• Strong communication and interpersonal skills.
• Ability to establish and maintain good working relationships with other departments.
• Project management skills and experience.
• Focus on client service and partnership.
• 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.

What Can We Offer You?

• 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.