Actuary
About The Position
We are adding to our diverse team of experts and are looking to hire an Actuary to enrich our Global Specialty Insurance United States (GSI US) Business Unit Reserving team within Corporate Reserving. 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, developing a core understanding of the GSI US portfolio, and communicating the impact of reserving analyses and decisions on the financial results of GSI US. As part of the GSI Reserving team, your role is to become a strategic partner with our business unit utilizing actuarial expertise, while broadening and deepening portfolio knowledge accompanied with market trends to provide business insights to support profitable growth. This partnership should be built on trust and collaboration, while preserving independent actuarial judgment and a clear focus on the balance sheet strength of Munich Re.
Requirements
- Bachelor’s degree in economics, mathematics, actuarial science or a similar qualification with a strong quantitative focus
- Credentialed Actuary (CAS or comparable)
- Experience in non-life (re)insurance (applicable experience can include reserving, pricing, underwriting, risk management, controlling or similar disciplines)
- Excellent quantitative and analytical skills with emphasis on practical application
- Strong verbal and written communication skills, including the ability to explain technical concepts to non-technical audiences
- Ability to combine actuarial expertise with business judgment, stakeholder management, and clear communication
- Strong project management, process optimization and change management skills
Nice To Haves
- Masters or MBA preferred
- Experience with insurance-related databases and data warehouses preferred
Responsibilities
- Building trusted relationships with the GSI Business Unit and key stakeholders to foster open communication, align different interests, and enable effective collaboration across a complex global organization
- Acting as the interface between Corporate Reserving and the GSI Business Units, Claims, and Finance functions involved in the actuarial control cycle, both locally and globally
- Enhancing reserve analyses by working with the business unit to understand strategy, portfolio performance, and trends within the marketplace
- Taking ownership of assigned reserve reviews and actuarial analyses, including actual vs. expected comparisons, focused portfolio analyses, assumption setting, documentation, and communication of key drivers
- Translating reserving results into actionable business insights by explaining the combined impact of strategy, portfolio performance, external factors, and reserving decisions on financial results
- Understanding IFRS17 concepts and results at a level sufficient to interpret their relevance for reserving analyses and business discussions
- Identifying and implementing opportunities to improve reserving processes, reporting, automation, and data-driven analytics
- Collaborating in a diverse team with various backgrounds and skills aiming to maximize the quality of Corporate Reserving’s deliverables and the success of the Munich Re Group
Benefits
- company bonus based upon a percentage of eligible pay
- health insurance coverage
- employee wellness program
- life and disability insurance
- 401k match
- retirement savings plan
- paid holidays
- paid time off (PTO)
- Two options for your health insurance plan (PPO or High Deductible)
- Prescription drug coverage (included in your health insurance plan)
- Vision and dental insurance plans
- basic life insurance equal to 1x annual salary
- AD&D coverage that is equal to 1x annual salary
- Short and Long Term Disability coverage
- Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children)
- Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity)
- A robust 401k plan with up to a 5% employer match
- A retirement savings plan that is 100% company funded
- Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries
- Eligibility to receive a yearly bonus as a Munich Re employee
- A variety of health and wellness programs provided at no cost
- Paid time off for eligible family care needs
- Tuition assistance and educational achievement bonuses
- A corporate matching gifts program that further enhances your charitable donation
- Paid time off to volunteer in your community
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
