Actuarial Manager Sr

Munich Re Group • Princeton, NJ

109d • $200,400 - $295,200

About The Position

We are adding to our diverse team of experts and are looking to hire a Senior Actuary to enrich the MR-AS Corporate Reserving Team. The responsibility of Corporate Reserving is to use quantitative and qualitative methods to perform and oversee the loss reserve analyses for Munich Re's property and casualty business in the US. This includes continuous monitoring of the reserve position, and the further development of actuarial methods, the underlying systems, and tools. Additional responsibilities are the assessment of reserve uncertainty and reserve risk, as well as financial reporting on non-life technical provisions under IFRS17, Solvency II, US GAAP and Statutory standards. In your role you oversee all aspects of actuarial reserving, including the development, governance, and communication of reserve estimates and methodologies for the business written by NEXT Insurance Companies. You will ensure that reserves are rigorously established, well-understood, and trusted by internal and external stakeholders to support NEXT's loss ratio projections. The role will manage a high-performing team while also exerting influence across the organization through executive communication. This position is critical to ensuring financial soundness, transparency, and alignment with NEXT's long-term growth objectives.

Requirements

• Bachelor's degree in economics, mathematics, actuarial science or a similar qualification with a strong quantitative focus; Masters, or MBA preferred.
• FCAS required.
• 10+ years of experience in non-life insurance (applicable experience can include reserving, pricing, underwriting, risk management or similar disciplines).
• Experience with small commercial insurance products preferred.
• Excellent quantitative and analytical skills with emphasis on practical application.
• Proven leadership and interpersonal skills, including people management experience.
• Strong verbal and written communication skills with the ability to simplify complex analyses and influence at the executive level.
• Familiarity with IFRS17, Solvency II, US GAAP and Statutory standards preferred.

Responsibilities

• Leading, developing, and empowering a business-oriented reserving team with diverse backgrounds and skills to enable the team to continuously increase business impact
• Develop a strategic roadmap for reserving practices at NEXT, ensuring alignment with company financial and strategic goals.
• Perform and oversee quarterly actuarial analyses to establish loss reserve indications and underlying assumptions supporting amounts booked on NEXT's balance sheet.
• Build analytics and reporting to provide insight into reserve adequacy, drivers of changes, and month-to-month actual vs. expected development.
• Fostering interfaces with various stakeholders in Munich Re Group, incl. NEXT Insurance, Central Reserving (ERGO), Central Reserving (Group) and other Financial and Management Reporting (FMR) Functions.
• Influence cross-functional decision-making by clearly articulating the financial impacts of reserve analyses by working closely with NEXT insurance product, and executive management to communicate reserve results and their implications for the business.
• Establish governance processes to ensure consistent methodologies, documentation, and quality standards in reserving.
• Ensure quarterly and annual, internal as well as external closing and reporting (Statutory, US GAAP, Solvency II and IFRS17) for NEXT Insurance to work smoothly and to be concluded with a very high quality.
• Manage relationships with external actuarial service providers, ensuring consistency, quality, and alignment with NEXT's standards.
• Achieve an integral collaboration with ERGO Central Reserving to ensure full transparency of reserving insights.

Benefits

• Health insurance coverage
• Employee wellness program
• Life and disability insurance
• 401k match
• Retirement savings plan
• Paid holidays
• Paid time off (PTO)

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Industry: Insurance Carriers and Related Activities
• Education Level: Master's degree