Title:  Manager & Actuary, IL Pricing

The Manager & Actuary plays a significant role in evaluating and pricing Individual Life (IL) reinsurance opportunities. Specifically, this position assists the lead Pricing Actuaries and Marketing Actuaries with all or parts of the end-to-end deal process, including building models, setting best-estimate assumptions and rates, risk assessment and management, and peer reviewing the work of themselves and others, to result in solutions that best meet the clients’ goals while providing optimal profitability for Munich Re. This position requires substantial technical expertise and developing knowledge of individual life insurance.

Job Responsibilities:

Modeling & Assumption Setting – Support the evaluation of IL reinsurance opportunities intended to generate new business and/or improve existing business.  The main responsibilities include:

• Review information provided by clients
• Analyze experience data and/or develop mortality studies
• Build pricing models based upon assumptions provided by the lead pricing actuaries or by setting those assumptions to mitigate risks inherent in the transactions
• Run pricing model projections, analyze and summarize results
• Develop rates and/or allowances that lead to the optimal profitability profile

• Documentation and organization of pricing models and files
• Perform Peer Reviews on own and others’ models and assumptions

Modelling Process Improvements & Cross-Training

• Model process improvements through the continual refinement of workbooks and templates used in the support of new business modeling
• Support the on-going training of other team members

Special Projects and Other

• Lead the modeling and analysis in technical and complicated project
• Mentor and/or manage the development of actuarial student
• Other ad-hoc requests

Qualifications:

• Moody’s Axis preferred
• Bachelor's degree in actuarial science, mathematics, statistics or related field
• FSA required
• 4+ years of life insurance / reinsurance experience
• Life insurance pricing and product development experience highly preferred
• Knowledge of Axis preferred

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.

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