In keeping with our global position as an industry leader and innovator, Munich Re is driving transformative change in the life reinsurance industry. Our innovation strategy sets a new standard in digitization that will radically transform our end-to-end business operations and deliver world-class, fully automated business processes and workflows.

Join Munich Re's Corporate Actuarial team to accelerate your actuarial career through mastery of reinsurance valuation and reporting methods. You will provide key support in the valuation of Financial Reinsurance (Fin Re) deals and our closed block of Annuities business under applicable accounting frameworks (e.g., SII, IFRS and US Statutory), as well as assist with project management and effective oversight and development of junior staff. You will regularly work with other teams such as Pricing, Finance, and Enterprise Risk Management, while deepening your expertise and exposure to Fin Re and Annuities, and various assignments and projects.

You demonstrate a consistent need for achievement, a strong work ethic and a drive to make a difference. You are also an excellent communicator and thrive working in a high-performing and client focused environment with a desire to make an impact. You have the ability to learn quickly, synthesize and implement solutions, and explain technically challenging concepts to other actuarial teams and senior management. If this sounds like a challenge, this is the right role for you.

Position Overview

The successful candidate will assist in overseeing the production of financial information related to valuation, solvency and planning, which may include but is not limited to:

• Support/own execution of Fin Re valuation process under all accounting frameworks
  • Prepare and analyze Fin Re results and forecasts
  • Perform Fin Re monitoring processes
  • Implement Fin Re economic risk capital valuation calculations
  • Maintain appropriate controls around models and other work products
  • Ensure quality and on time completion of deliverables
  • Provide support for coordination of quarterly close activities

• Support/own execution of Annuity valuation process under all accounting frameworks
  • Prepare and analyze Annuity results and forecasts
  • Maintain appropriate controls around models and other work products
  • Ensure quality and on time completion of deliverables
  • Provide support for coordination of quarterly close activities

• Support global reporting frameworks (Solvency II and IFRS)
  • Prepare and analyze cash flow projections as part of deal onboarding process
  • Maintain and enhance Fin Re valuation database, models, and documentation
  • Prepare and analyze SII and IFRS attribution analyses (e.g., experience variances, assumption changes, etc.)
  • Liaise with key stakeholders to develop and finalize valuation methodologies
  • Support SII and IFRS reporting processes, and prepare material for local and Munich Re Group audience
  • Support implementation and testing of centralized IFRS9 calculation engine

• Other projects and management support
  • Effective support and development of junior staff
  • Provide support for ad hoc requests from Central Life Reserving, Senior Management, and others
  • Provide assistance to external reviewers, in particular auditors and home office reviewers

Qualifications

We are looking for the following qualifications:

• University Degree in Actuarial Science, Finance, Statistics, or Mathematics.
• FSA designation.
• Prior experience in the Life and Health insurance/reinsurance industry.
• Strong analytical, modeling and financial reporting skills. SQL experience preferred but not a must.
• Comfortable working with fairly complex calculations.
• Superior attention to detail and accuracy.
• Strong problem solving and organization skills.
• Excellent written and verbal communication skills as demonstrated in general conversation, clear and complete responses, formal presentations and written documents.
• Ability to establish and maintain good working relationships with other departments.
• Demonstrated flexibility and effectiveness working under tight timelines.
• Demonstrated ability to adapt in a dynamic environment.
• Advanced Excel, Word, Access.

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 $172,811 - $191,002, 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.