Life Actuarial Assistant (2027 New Grad Permanent - New York)
About The Position
Munich Re Life US is hiring permanent, entry-level Actuarial Assistants for its rotational program. The program is designed to build a strong actuarial foundation through placements in departments selected closer to the start date according to business needs. Participants work on meaningful projects, develop technical skills and a holistic understanding of the business, and receive organizational support while pursuing the FSA designation. Rotations are intended to take place in New York City. The role may include placements in Biometric Research, Corporate Actuarial, or Pricing. Biometric Research work includes experience studies, quote reviews, and analysis of mortality and persistency trends. Corporate Actuarial work includes supporting financial results, setting assumptions for policy liabilities, building and managing actuarial models, learning regulations, and analyzing the business. Pricing work focuses on client relations, solutions, product profitability, actuarial modeling, profit metrics, market research, and quoting special business. The position is based in Munich Re’s New York, New York office and follows a hybrid working model requiring at least three days per week in the office. Candidates are expected to relocate to the greater New York area. The anticipated start is in 2027, upon graduation.
Requirements
- Bachelor’s or Master’s degree in Actuarial Science, Math, Statistics, Risk Management, or an equivalent program, in healthy academic standing.
- At least two actuarial exams completed, with demonstrated progress toward the ASA designation.
- At least one relevant internship or co-op work term.
- Excellent spoken and written communication skills, including formal and informal presentations.
- Ability to build and maintain positive professional relationships, with good client service acumen.
- Ability to multitask and self-manage multiple priorities and projects.
- Strong organizational skills and attention to detail and accuracy in a fast-paced environment.
- Leadership qualities including clear thinking, curiosity, integrity, and drive.
- Proficiency in Microsoft Excel, Access, and Word.
- Willingness to relocate to the greater New York area and meet the hybrid requirement of at least three days per week in the office.
Nice To Haves
- Programming skills such as Python, Java, VBA, C, C++, or C#.
- Familiarity with GGY Axis.
- Experience with actuarial or financial modeling.
- Knowledge of the life insurance industry and products.
Responsibilities
- Complete experience studies and assist with quote reviews across Life, Longevity, and Long Term Care lines of business.
- Analyze mortality and persistency trends and research trends in the US general population.
- Collaborate across company functions to provide expertise and set assumptions for calculating policy liabilities.
- Build and manage complex actuarial models, analyze business results, and work with other departments on solutions.
- Support pricing and business development by fostering client relations, evaluating product profitability, developing client strategies, reporting profit metrics, conducting market research, and quoting special business.
- Work on actuarial projects across rotational placements while pursuing the FSA designation.
Benefits
- Health insurance with PPO or High Deductible plan options and prescription drug coverage.
- Vision and dental insurance.
- Basic life insurance equal to 1x annual salary and AD&D coverage equal to 1x annual salary at no cost.
- Short- and long-term disability coverage.
- Optional supplemental life and AD&D plans for employees and dependents.
- Voluntary Accident, Critical Illness, and Hospital Indemnity plans.
- 401(k) plan with up to a 6% employer match.
- Actuarial Student Program with paid study time, exam fee reimbursement, study resources, and rewards for exam milestones.
- Paid time off starting at 24 days annually, with additional days for service anniversaries.
- Eligibility for a yearly company bonus.
- Health and wellness programs at no cost, including gym fitness reimbursement.
- Paid time off for eligible family care needs.
- Corporate matching gifts program.
- Paid time off to volunteer.
- Paid holidays.
- Retirement savings plan.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
