[ POSITION: Actuarial Intern, US Life (2024 Summer - New York, 4 months)
LOCATION: New York, NY
ANTICIPATED START DATE: Summer Term - 2024

Together, we engage with everything we have and are, to help humankind act braver and better.

As the world's leading reinsurance company with more than 40,000 employees in over 50 locations around the globe, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into manageable risk, we enable fundamental change. We recognize Diversity, Inclusion, and Belonging as a key priority with a culture that welcomes different thoughts and opinions. We dare to think big and are continuously innovating on behalf of our clients.

Our data, our technology, and our teams place us in a unique position to drive transformative change in the life insurance industry. We invest strategically in our world class talent, offering our employees a work experience that promotes professional development, innovation, and rewards high performance.

Our Summer internship placements provide you with an excellent opportunity to practically apply your classroom and technical training in the reinsurance industry. While with our team, you'll be; coached by experienced industry professionals, exposed to Munich Re leadership, challenged as a valuable team member and contributor doing meaningful work, and mentored to develop a solid foundation that will help position you as a future leader in the field.

Munich Re is operating under a hybrid working model, including at least 3 days in office/week. Students are expected to relocate to the city in which they work for the duration of their co-op, so they can fully benefit from the full program integration. This provides a great opportunity to network, develop soft skills and become immersed within the greater Munich Re culture; including engaging with your team while in-office for face-to-face meetings, sharing meaningful moments, and allocating time to connect with your Manager.

Position Overview
You'll work closely with other Actuarial Associates and Actuaries within their respective departments, as well as with other key individuals across the organization.

Note that work placements by department will be assigned closer to the term start date based on a number of factors, not limited to: your interest, skill set, ability to relocate, and internal business needs. Potential departments could include: Biometric Research, Corporate Actuarial, Financial Reinsurance, Inforce Management, Group Reinsurance & Living Benefits Pricing, Individual Life Pricing, or Enterprise Risk Management.

Job Responsibilities
Work term responsibilities will vary depending on the department you're placed. The following are just a couple of examples of potential responsibilities associated with each team:

Corporate Actuarial:

• Conduct Embedded Value calculation and assist in quarter-end financial reporting;
• Coordinate termination, IBNR, and lapse experience studies.

Group Reinsurance & Living Benefits Pricing:

• Assist in the completion of experience studies to determine best estimate pricing assumptions;
• Prepare and utilize financial analysis models for use in finalizing quarterly Group results.
• Assist with modeling of Living Benefits reinsurance quotes, prepare and communicate profitability and pricing reports
• Analyze last year's new business block and assist with reviewing new business trend and profitability.

Individual Life Pricing:

• Prepare and communicate profitability and pricing reports, reinsurance proposals, treaty documentation, and amendments;
• Active involvement with client communications.

Enterprise Risk Management:

• Analyze client and competitor financials to identify potential reinsurance opportunities;
• Assist with all aspects of Enterprise Risk Management; including risk identification, assessment, and reporting - both in the normal course of business as well as for special projects.

Qualifications
We're looking for well-rounded individuals who are technically astute, have strong communication skills, and demonstrate the ability to build positive relationships with internal clients. We're seeking energetic and collaborative professionals who are excited to join our winning team and show promise of becoming a future leader in the reinsurance space.

Specifically, we're looking for the following qualifications:

• Currently pursuing an Undergraduate or Master's degree in Actuarial Science, Math, Statistics, Risk Management, or equivalent program - in healthy academic standing;
• Successful completion of one SOA exam (with two or more preferred);
• Excellent communication skills - spoken & written, formal/informal presentation;
• 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 Microsoft Excel skills;
• Preference for candidates who have relevant work experience (in actuarial, insurance, or financial services desired).

The hourly pay rate range anticipated for this temporary position is $28 to $39. The hourly rate range estimate displayed represents the typical pay rate for candidates hired in this position. Factors that may be used to determine your hourly pay rate include your SOA exam progress, and your previous work term experience. ]