Actuarial Co-op (May 2021 - Dec 2021)

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About Us:
Hannover Re (Ireland) DAC Canadian Life Branch operates as a branch of Hannover Re (Ireland) DAC, a subsidiary of the Hannover Re Group.  Licensed in early 2015, the Canadian Life Branch provides the Canadian market with mortality, morbidity, longevity, and financial solutions.

The Hannover Re Group is one of the world's largest reinsurance organizations. We transact in all lines of Life and Health reinsurance, as well as Property and Casualty reinsurance.   Our worldwide network consists of more than 100 subsidiaries, branches and representative offices, across five continents, with around 3,300 staff.  Our business partners include over 5,000 insurance companies in 150 countries.  

Established in 1966, Hannover Re celebrated its 50th birthday in 2016.  Over the past fifty years we have grown to around $20bn USD in gross written premium.  We continue to grow in the international reinsurance market and pride ourselves on the ability to provide unique and customized client solutions.

Our ratings are AA- "Very Strong" by Standard & Poor's and A+ by A.M. Best.  

The Opportunity:

The primary role of our Actuarial Pricing Co-ops is to support the pricing function of the Canadian Life Branch.  You will be part of a team of actuaries including FSAs with anywhere from 6 to more than 25 years of post-qualification experience practicing in the industry, and work closely with other departments including underwriting, marketing, and client relationships.  This is a fantastic opportunity to not only put your knowledge of actuarial science to good use solving real-world problems, but also gain exposure to the broader management and business development aspects of reinsurance all in a single work term.  Many of the actuaries on the team are themselves University of Waterloo alumni from the co-op actuarial science program and understand the importance of developing talent early in students' careers.

This opportunity is only available for an 8-month term.

Job Responsibilities:

-Assist in building and running pricing models using GGY AXIS actuarial software
-Use and develop internal tools to help set mortality pricing assumptions for new quotes
-Write or update pricing documents including documentation of pricing assumptions, financial results, and offers to clients
-Enhance the pricing process by adding process improvements where possible using a variety of tools including the MS Office suite and SQL Server Management Studio
-Research insurance products and industry trends, and present findings internally and potentially externally

Required Skills:

-At least one previous actuarial work term of experience
-Strong skills using Microsoft Office suite (Excel, Access, PowerPoint, Word; VBA and SQL knowledge an asset)
-Demonstrated progress in the Society of Actuaries exams 
-Basic knowledge of life insurance products, experience studies, or pricing/product development an asset
-Familiarity with Moody's GGY AXIS actuarial software an asset
-Strong desire and ability to solve problems, take initiative, and acquire new skills and knowledge 
-Actuarial Science or a relevant mathematical discipline

Compensation and Benefits Information:

In addition to competitive compensation, our Actuarial Pricing Co-ops will be offered paid study time for SOA exams written during the work term depending on the examination date.  We have a flexible working hour policy.


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