Company
Munich Reinsurance Company of Canada
Location
Toronto, Canada
POSITION: Accounting and Finance Co-op, Property & Casualty (2024 Fall – Toronto, 8-12 months)
LOCATION: Toronto, ON
DURATION: 8-12 Months
ANTICIPATED START DATE: September 3, 2024
NUMBER OF POSITIONS: 1
APPLICATION DEADLINE: May 17, 2024
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.
Munich Re is one of the top providers of reinsurance, primary insurance, and insurance-related risk solutions in the world. Taking on risks worldwide of every type and complexity, the Munich Re Group and its business units are active in all lines of insurance. Our consistent risk management, financial stability, and client proximity make us a much sought-after trusted business partner. As a leader of risk transfer here in Canada, Munich Re strives to be the "go-to" reinsurance partner. We offer a full range of traditional risk-transfer solutions through Property and Casualty, Treaty and Facultative reinsurance. As risk evolves and changes, Munich Re focuses on innovation by developing products and services on the forefront of change. Together with our clients, we will shape the future of our industry.
Our co-op placements provide you with an excellent opportunity to practically apply your classroom and technical training in the reinsurance industry. While with our team, you'll be; coached by experienced industry professionals, exposed to Munich Re leadership, challenged as a valuable team member and contributor doing meaningful work, and mentored to develop a solid foundation that will help position you as a future leader in the field.
Munich Re is operating under a hybrid working model, including an average of 2 days in office/week with the remaining days working from home. Students are expected to relocate to the city in which they work for the duration of their co-op/internship, so they can fully benefit from the full program integration.
Position Overview
Working with accounting professionals, you will be assigned a variety of responsibilities based on demand and interest. The candidate will be involved in the daily functioning of the general accounting department, as well as have the opportunity to be exposed to the quarter end tasks, expense reporting to sr. management, investment reporting, excel and power bi modeling.
Note that this opportunity will be in one of the accounting departments of Munich Reinsurance Company of Canada (MROC) based in Toronto.
Job Responsibilities
Work term responsibilities may include (but will not be limited to) the following:
General Accounting, Openings: 1
Daily Management of Cash Flows:
• Daily bank reconciliation.
• Cash flow management.
• Full AP/AR cycle.
• Investment performance reporting.
Quarter End:
• Expense reporting to Sr. Management in Power BI.
• Expense variance analysis.
Technical Accounting, Openings: 1
Daily Tasks:
• Review, post and settlement of technical premiums, acquisition costs and losses.
• Monitoring of AP/AR while working with internal and external clients.
• Key performance indicators monitoring.
Quarter End Tasks:
• Responsible for the setup of new and renewing treaties.
• Analysis and commentary on premium deviations to forecast.
• Support of both internal and external audit requests.
Qualifications
First and foremost, we're looking for well-rounded individuals who are professional, have great communication skills, and show an aptitude for working with data. You'll be joining an energetic and goal-oriented team that uses a collaborative approach to working within all areas of the company, and focuses on achieving the greater objectives of Munich Re.
Specifically, we're looking for the following qualifications:
• Undergraduate degree in Business Administration/Commerce with focus on Accounting or Finance, or equivalent program - in healthy academic standing in core curriculum;
• Excellent communication skills – spoken & written, formal/informal presentation;
• Proficient in Microsoft Office Suite, particularly in: Excel, Word, and PowerPoint;
• Mathematical aptitude, exhibits good analytical and problem solving capability;
• Exhibits solid organizational skills and rigorous attention to detail/accuracy in a fast-paced environment – particularly in relation to data entry;
• Proven capability to multi-task and successfully self-manage multiple priorities and projects under tight timelines;
• Effective working both independently and as part of a greater team;
• Demonstrated ability to create and manage positive professional relationships with good client service acumen.
Note that this opportunity is open to both current students who will be returning to in-class studies upon the completion of the internship, as well as recent graduates who have obtained their undergraduate degree within the past year.
Please note that only candidates who are selected for interview will be contacted directly.
We thank all candidates for their interest.
Munich Re Canada 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 consult with Human Resources or contact [email protected] as soon as practical so that suitable accommodations can be arranged.
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