Reserving Actuary

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.  
 
At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.  

 
Reserving Actuary

We are looking for a Reserving Actuary to join our team on a full time basis in our London City office. You will perform a broad range of actuarial work within the Reserving and Reporting function, in particular leading on the first lining reserving responsibilities MRSG and liaising with the actuarial community working across global teams.

Responsibilities 

• Investigate, establish and lead the development and implementation of reserving processes and systems for first line reserving of MRSG (GSI4) business written on a number of legal entities within the Group;
• Lead the quarterly reserving processes for MRSG (GSI4) business by reconciling data sets, analysing and producing reserving results, including reviewing results produced by other members of the team. Liaise with Central Reserving to persuade them to use the results produced, building strong relationships based on the credibility of work undertaken;
• Present the first line reserving reviews to senior management, explaining assumptions and rationale for changes. Present results to other stakeholders such as underwriters and central reserving (Munich) to provide insight and recommendations on performance related results. This will include liaising with the actuarial community and working across global teams under GSI4;
• Support the quarterly Best Estimate and Syndicate reserving processes for Syndicate (MRSL) business written via Lloyd’s platform, including leading reserving meetings and preparing information for the Reserving Committee;
• Review the monitoring of claims experience using actual versus expected analysis, and review the paramterisation reviews of GSI4 business;
• Carry out deep dives on key reserving uncertainties and reserving classes. Communicate results to key stakeholders;
• Work collaboratively and proactively engage relevant stakeholders, e.g. support reporting teams on key drivers of reserving movements, etc;
• Support the Reserving Manager with analyses where requested;
• Build knowledge of actuarial reserving through on-the-job learning and structured training, and assist in the same for analysts;

Knowledge and Skills

• Mathematics of Actuarial Background
• Good working knowledge of Excel and databases
• Able to understand and explain key Actuarial processes
• University Degree in a quantitative field such as Mathematics, Actuarial Science or Statistics.
• Qualified actuary (FIA or equivalent) or qualified by experience.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!
 

Diversity, Equity & Inclusion
At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.
 
All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Learning and innovating today, striving for sustainable societies and business tomorrow
 
At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.
Learn more about sustainability at Munich Re – choose your impact!

Benefits

• 25 days Annual Leave + Bank Holidays
• 10% Non-contributory Pension
• Eligibility for an Annual Bonus
• Private Medical + Dental Insurance
• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & continuing Professional Development Support
• Hybrid Working + IT Home Set-up Support

 
#BePresent #BeBold #BeCurious