Life Actuarial Assistant (2027 New Grad Permanent - New York)

Munich Re Careers•New York, NY

34d•$86,000 - $115,000•Hybrid

About The Position

Munich Re Life US is hiring for its next class of permanent entry-level Actuarial Assistants for its rotational program. We’re seeking client-focused individuals who are looking to join a team that will lead them on the path towards a successful career in the insurance space. The Actuarial Assistant program at Munich Re is a rotational program designed to provide you with a strong foundation in the field. Departmental placements will be made closer to your start date based on internal business needs. The rotations will enable you to enhance your technical skills while gaining a holistic perspective of our business; better positioning you towards greater leadership opportunities in the future. Within the rotations, you will be engaged in meaningful actuarial projects with a variety of teams while working towards your FSA designation – with the support of the organization. Placement and rotational opportunities involve numerous departments, some of which are listed below: Biometric Research: As part of the Biometric Research team, you will help with the completion of experience studies and assist with quote reviews for different lines of business (Life, Longevity, Long Term Care). You will also use experience studies to analyze mortality and persistency trends within the life insurance industry as well as conduct research of key trends within the US general population. You can expect to gain valuable skills through working with large datasets, balancing multiple projects and learning from industry experts. Corporate Actuarial: This team is responsible for providing the financial results of the US Life & Health business. You will collaborate with many different functions across the company, to provide expertise and set assumptions for calculating policy liabilities. You will build and manage complex actuarial models, learn the details of current and upcoming regulations, perform analysis of the business, and work closely with other departments to invent creative solutions. Pricing (Individual Life Flow, Inforce & M&A, Alternative Solutions, Group, Living Benefits and Financial Reinsurance): The focus of these teams is on acquiring and maintaining new business through fostering strong client relations, developing innovative solutions, and evaluating product profitability. You will be challenged to understand key drivers in profitability due to changes in assumptions, reinsurance agreements, industry trends, and product design. You will have the opportunity to work on high-impact projects including developing client strategies, building complex actuarial models, reporting key profit metrics, performing market research, and quoting on special business.

Requirements

Bachelor’s or Master’s degree in Actuarial Science, Math, Statistics, Risk Management, or equivalent program – in healthy academic standing
Completion of at least two actuarial exams with demonstrated progress towards ASA designation required
Relevant work experience, having completed at least one relevant internship or co-op work term
Excellent communication skills – spoken & written, formal/informal presentation
Demonstrated ability to create and manage positive professional relationships with good client service acumen
Proven capability to multi-task and successfully self-manage multiple priorities and projects of various significance
Exhibits solid organizational skills and rigorous attention to detail/accuracy in a fast-paced environment
Demonstrates leadership qualities – clear-thinking, curiosity, integrity, and drive
Proficient in Microsoft Excel, Access, and Word

Nice To Haves

Programming skills (such as, but not limited to: Python, Java, VBA, C/C++/C#)
Familiarity with GGY Axis
Experience with actuarial/financial modeling
Knowledge of the life insurance industry and products

Responsibilities

Help with the completion of experience studies and assist with quote reviews for different lines of business (Life, Longevity, Long Term Care).
Use experience studies to analyze mortality and persistency trends within the life insurance industry as well as conduct research of key trends within the US general population.
Collaborate with many different functions across the company, to provide expertise and set assumptions for calculating policy liabilities.
Build and manage complex actuarial models, learn the details of current and upcoming regulations, perform analysis of the business, and work closely with other departments to invent creative solutions.
Acquire and maintain new business through fostering strong client relations, developing innovative solutions, and evaluating product profitability.
Develop client strategies, build complex actuarial models, report key profit metrics, perform market research, and quote on special business.

Benefits

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 and 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 6% employer match
Comprehensive Actuarial Student Program offering paid study time, exam fee reimbursement, study resources, and rewards for achieving exam milestones
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, including a gym fitness reimbursement.
Paid time off for eligible family care needs.
A corporate matching gifts program that further enhances your charitable donation.
Paid time off to volunteer in your community.