Senior Financial Analyst

Position Overview

Reporting directly to the Director, Reinsurance Accounting in Canada this position leads the preparation and presentation of management results and client profitability analysis in addition to leading the timely and accurate financial statement close process for the North American legal entities.

The position also supports various projects involving process automation, financial system enhancements, the implementation of new reporting and analytical tools, and various process improvement initiatives.

Your Role:

Reinsurance accounting and analysis:

• Lead key financial processes involving material financial transactions reflecting premiums, commissions and other cash flows in a timely and accurate manner.
• Monitor client data, perform financial reconciliations and resolve transactional and reporting matters on a timely and effective basis.
• Prepare complex profit commission reporting to ensure timely and accurate client settlements. Serve as a single point of contact to various internal key stakeholders.
• Ensure appropriate control design and performance of key accounting controls to achieve an effective and efficient control framework.
• Manage key performance indicators and lead the investigation efforts on resolving issues and recommend process improvements.
• Design and implement new accounting and reporting processes to accommodate new account and/or new contract set ups to support both client and external reporting requirements.
• Prepare/update process documentation for significant complex processes and significant accounting transactions to support the overall governance framework in the accounting department.
• Partner with cross-functional groups to address financial operational topics within the scope of accounting and reporting. Support external and internal audits.

Management reporting and analysis:

• Manages the production of business line reports efficiently to satisfy needs of internal stakeholders.
• Communicates and coordinates in an effective and continuous manner with Pricing, Claims, Corporate Actuarial, Reinsurance Operations, IT, etc.
• Manages the quarterly reporting for premium estimates, outstanding claims estimates, and other client related balances.
• Manages the quarterly actual results and forecast in the local ledger in a timely, accurate and efficient manner to facilitate internal management and for the local statutory reporting for technical results.
• Assists with ad hoc analytical reviews required to close the quarterly technical results.

Financial Systems,  Special Projects & Other        

• Lead the user testing of financial accounting system upgrades.
• Support automation projects involving processing of client transactions to add efficiency to the financial operations.
• Support special projects involving implementation of new reporting and analytical tools.

Your Profile:  

• 5+ years of industry experience is required. Financial accounting and reporting experience in the insurance industry would be considered an asset.
• University degree in commerce/business with a focus on Accounting is required.
• CPA or active pursuit towards one.
• Completion or in-pursuit of insurance related courses would be considered an asset
• Proficient working knowledge of Microsoft suite (Excel, Access, Word, Outlook, etc.).
• Advanced Excel knowledge is required.
• Previous working experiences with Oracle, PowerBI, SQL, PSQL considered as an asset.
• Ability to work in a team environment, demonstrated ability to add efficiencies to existing processes and to work with current technological trends, with a focus on client service to enhance client experiences. 
• Demonstrated effectiveness working in a fast-paced environment, under tight deadlines and with multiple priorities. Results oriented.
• Excellent communication and interpersonal skills.

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
• 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 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 $90,000 and $105,000 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 View email address on careers.munichre.com as soon as practical so that suitable accommodations can be arranged.