Valuation Actuary (m/f/d)*

The Life and Health 1 Valuation team is responsible for valuation and earnings analyses across all reporting bases relevant for Munich Re’s Life & Health reinsurance business written in continental Europe, Latin America and the Middle East.

We develop models and assumption sets to generate inputs for Munich Re Group reporting as well as analytics for managing the business. Our results help identify key drivers, which are then integrated into top management reporting, annual forecasts, results planning and business steering and monitoring.

If you are a talented actuary and agree with some of the following statements, we invite you to reach out to learn more about this exciting job opportunity: You have an affinity for cash-flow modelling. You know the essentials of SII and IFRS relevant for life (re)insurance. You have sound knowledge of databases and modern IT tools such as Python. You are passionate about explaining your analyses to various stakeholders and decision-makers in the business. You find it exciting to shape view on the business of a leading reinsurer.

We are looking forward to your application.

Your Job 

• Driving the ongoing development of the actuarial valuation system targeting sustainable processes, providing solution designs for feature requests, specifications and conducting system tests
• Coordinating activities with the actuarial and the data management teams and other stakeholders. Defining and driving the implementation of the data improvement roadmap
• Developing and maintaining valuation models in Moody’s AXIS, providing modelling expertise to the team, ensuring high quality and overall consistency of modelling approaches
• Understanding the business and contracts in selected relevant markets and conducting analyses of reserve movements and result drivers (IFRS/SII)
• Onboarding new business to the valuation system including system setup, selection and preparation of appropriate models, assumptions and portfolio data
• Communicating and explaining valuation results to stakeholders in the business and finance.

Your Profile

• Full or nearly completed actuarial qualifications and several years of professional experience in at least one relevant actuarial topic (Solvency II, IFRS17, assumption setting, cash-flow modelling)
• Innovative mindset, track record of successfully initiating changes
• Very good experience in communication with different levels as well as networking skills for establishing close connections with internal stakeholders
• Knowledge of cash-flow modelling tools (e.g. AXIS)
• Good knowledge of SQL and databases in general, knowledge of Python and related data transformation libraries, familiarity with Excel Pivots, Power BI and similar reporting solutions
• Strong command of spoken and written English

Application Instructions

Please apply through our online portal and upload your CV, as well as your academic reference letters, including school certificates, graduation certificates and transcripts of record for any degrees. If applicable, please also submit reference letters from any previous employers or certificates from any other qualifications you may have. We recommend writing a cover letter to tell us more about why the position and Munich Re is of interest to you.

About us

As the world's leading reinsurance company with more than 11,000 employees at over 50 locations, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into a manageable risk we enable fundamental change. Join us working on topics today that will concern society tomorrow, whether that be climate change, major construction projects, medical risk assessment or even space travel.  
Together we embrace a culture where multiskilled teams dare to think big. We create the new and the different for our clients and cultivate innovation. 
Sounds like you? Push boundaries with us and be part of Munich Re. 
Our employees are our greatest strength. That’s why we offer them a wide range of benefits. You can find some examples below. 
 
Unlock your potential

• Diversity, Equity & Inclusion: we embrace the power of differences and are convinced that diversity fosters innovation and resilience and enables us to act braver and better.
• Continuous Learning: we believe that continuous learning is a key differentiator and critical for building new skills and accelerating growth.
• Career Mobility: we actively support career mobility, and our strong global and regional presence offers a wealth of career growth opportunities for you.

Rewards & Recognition

• Competitive salary: appropriate compensation for your high level of commitment.
• Retirement provision: state of the art in-house pension solutions.
• Work-life balance: promoting the compatibility of family and work in addition to overall work-life balance.
• Health management: focus on your physical and mental health far beyond legal requirements.
• Hybrid working: living the best of both worlds – we offer you a very flexible approach as well as the opportunity to work from abroad on an occasional basis.

* Munich Re not only stands for fairness with regard to its clients; it is also an equal opportunities employer. Severely disabled candidates will also be prioritized, if equally qualified. 

Münchener Rückversicherungs-Gesellschaft
Lisa Schneider
Consultant Talent Acquisition