Munich Re Life US ("Munich") aspires to be the premier reinsurance business partner that delivers exceptional value to our clients and stakeholders. As the US-based life subsidiary of one of the world's largest reinsurance companies, we are the industry leader in delivering world-class service and solutions to many of the most recognized insurance companies around the globe.

The Production & Valuation Team

The Production & Valuation Team reports to the Chief Actuary of Munich Re and produces reserving and other financial metrics across multiple accounting regimes. Key facts about the team are as follows:

• Our Mission: To produce timely, forward looking, accurate & actionable financial information that stakeholders with unique interests use to make decisions.
• Our Stakeholders: senior management, market, auditors, regulators, and beyond
• Core competencies:
  • Operational Efficiency - We strive to execute our mission with ease
  • Subject Matter Experts - We know the business and are able to explain key Income Statement and Balance Sheet drivers
  • Strong Stakeholder Relationships - We partner with the business units, beyond the quarterly closes

The Production team produces meaningful financial results which drive thought leadership throughout the entire organization.

Your Job:

As the Director & Actuary, your primary responsibilities are to deliver Solvency II and IFRS 17 financial reporting for Munich Re's largest line of business. The position will manage a team of 2 direct reports with opportunity for additional intern support.

Modeling:

• Support the maintenance and execution of the modelling reporting system in Moody's Analytics AXIS, as tailored to Munich's monitoring, reporting, and data production needs
• Develop tools and analysis to understand drivers of financial impacts from inforce data across reporting cycles
• Motivated self-starter willing to dig into complex modelling details

Valuation and Financial Reporting:

• Preparation of periodic valuation and financial reporting results across IFRS, SII and US Statutory reporting frameworks, across various onshore and offshore entities
• Preparation of financial projections for strategic and financial planning processes
• Business unit support regarding risk evaluation and management, inforce management actions, and deal review

Development:

• Set and review of valuation assumptions based on experience studies
• Monitor experience versus assumptions and develop analysis for use both within and outside of Corporate Actuarial
• Assistance in execution of strategic initiatives

Analysis:

• Provide deep analysis of results, and be able to raise key issues independently
• Ability to deliver highly accurate results via carefully documented work with verifiable controls
• Perform analysis of results to highlight key fundamentals of certain treaties driving profitability of our business

Communication:

• Ability to communicate results to both actuaries and non-actuaries, and work collaboratively across an organization
• Ability to build relationships across a broad range of teams across the US organization and beyond
• Assistance to internal and external reviewers (e.g. auditors)

Your Profile:

• FSA with 7+ years of relevant experience
• Bachelor's degree in mathematics, quantitative discipline, actuarial science, or related field
• Life insurance product knowledge including product design, features, and risks
• Valuation and/or financial reporting experience
• Moody's Analytics AXIS modeling experience is a plus
• Knowledge of reinsurance structures and deals is a plus
• Knowledge of international frameworks such as Solvency II and IFRS 17 is a plus

Our Benefits

• Comprehensive Medical Plans
• PTO and Family Leave
• Retirement Savings Plans
• Dental and Vision Plans
• Life and Disability insurance
• Employee Assistance Program
• Adoption Assistance
• Wellness Programs - Calm, WW, SoFI, Virgin Pulse
• Commuter Benefits
• FSA and HSA Plans
• Hospital Indemnity, Critical Illness and Accident Plans

At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services. We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

About Munich Re

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.

For New York City based employees, the base salary range anticipated for this position is $176,532 to $246,585, plus an opportunity for an annual company bonus based upon a percentage of eligible pay.

The salary estimate displayed represents the typical salary range for candidates hired in this position. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role.

Please note that only candidates who are selected for interview will be contacted directly. We thank all candidates for their interest.