Manager & Actuary, Longevity Pricing

Munich Re Careers•New York, NY

3d•$183,000 - $203,000•Onsite

About The Position

Alternative Solutions Group is a newly established team within Munich Re US Life, dedicated to delivering innovative, customized reinsurance solutions for U.S. Life & Health clients. Our mandate is to address unique and complex needs through creative structures that may include biometric and financial reinsurance, third-party capital, asset management partnerships, and other novel approaches. The fast growing US Longevity Business sits within the Alternative Solution Group, and is a key growth driver for Munich Re’s Global Ambition 2030 strategy.

Requirements

FSA required
5+ years of experience in reinsurance, life insurance, or annuity pricing / modelling.
Relevant experience in financial modelling, assumptions setting, product pricing preferred.
Experience in direct and/or reinsurance pricing preferred.
Python and R experience preferred.

Responsibilities

Work closely with Head of Alternative Solutions to evaluate longevity reinsurance opportunities which may include pension risk transfer, individual annuities, structured settlements, merger & acquisition, and inforce block transactions.
Evaluate transaction material, product information, underwriting processes to establish assumptions and models for reinsurance pricing.
Collaborate with biometrics, data analytics, and underwriting to achieve a deeper understanding of biometric risks.
Present transaction pricing and risk analysis to senior stakeholders to obtain support and approvals.
Continue to build out new framework and value propositions for the evolving US annuity landscape.
Improve pricing processes through the continual refinement of tools and templates used in the support of new business pricing.
Monitor profitability and business performance to create feedback loop for future pricing.
Lead the pricing and analysis in more technical and complicated projects, ex. mortality table and improvement development, client value prop development.
Monitor industry trends, evaluate competitive dynamics, and research new product & markets for growth opportunities.
Partner with senior leadership to define growth priorities and execute key strategic initiatives.
Support business development activities in preparing material to demonstrate Munich Re’s leading edge expertise in various topics and partnerships.

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.
Additional insurance coverages provided at no cost to you, such as 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
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.
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.