Title:  CR1.1.3 Head of Section IFRS17 Plan and Solvency II (m/f/d)*

for Central Reserving 

Full-Time/Part-Time (80 %)

Central Reserving (CR) uses quantitative and qualitative methods to perform and oversee the loss reserve analyses for Munich Re’s group-wide Non-Life business. This includes continuous monitoring of the reserve position as well as the further development of actuarial methods, underlying systems and tools. Additional responsibilities include the assessment and quantification of reserve uncertainty and reserve risk, as well as financial reporting on Non-Life technical provisions under IFRS17, Solvency II and local GAAP standards.

For the newly established section CR1.1.3 IFRS17 Plan & Solvency II, we are seeking a passionate, driven leader for a team of highly qualified Non-Life actuaries, who is motivated to shape the newly developed IFRS17 plan process further, takes on responsibility for the Solvency II closing process and drives IFRS17 – SII alignment projects further. In this role, you will have the great opportunity to develop personally and you will inspire and motivate team members, fostering a collaborative and growth-oriented environment.

You will be able to obtain a broad overview of the Non-Life business of the Munich Re Group and have the opportunity to contribute to the application of the IFRS17 standard and financial year plan topics as well as Solvency II reporting.

YOUR JOB

• Ensuring a timely processing of a high quality financial Planning under IFRS17 for the whole Non-Life segment to the Munich Re Group
• Overseeing the efficient execution of IFRS17 plan processing, performing quality assurance and actuarial analyses of  IFRS17 key figures
• Preparing communication and address information requirements on financial year plan topics for various stakeholders such as IT and controlling colleagues, business units and auditors
• Taking ownership of the Solvency II actuarial closing process, ensuring timely and accurate delivery of results
• Driving, coordinating and shaping all group-wide Solvency II projects
• Further streamlining of processes, enhancing methodologies and providing clear communication and reporting to all stakeholders for Solvency II topics
• Developing alignment initiatives between Solvency II and IFRS17, ensuring consistency between the reporting frameworks and identifying and using synergies
• Ensuring high quality deliveries of tasks delegated from the Group Actuarial Function (GAF - IRM)
• Management of the team, guiding, motivating and developing the skills of a team of highly qualified colleagues

YOUR PROFILE

• University degree in mathematics, actuarial science or a similar qualification with a strong quantitative focus
• Actuarial qualification (e.g. DAV, FIA, FCAS or equivalent) from an internationally recognized body
• Several years of experience in an actuarial role (e.g. in Reserving, Pricing, Risk Management, Controlling, Underwriting, insurance audit) and at least 5 years’ experience in Reserving or Financial Reporting
• In-depth knowledge of IFRS17 and Solvency II regulations, actuarial closing process, and financial reporting standards
• Excellent leadership skills for attracting, leading, mentoring and developing high-performing teams, with a focus on fostering an inclusive, collaborative and growth-oriented culture
• Strong problem solving abilities and a track record of driving process optimization, efficiency improvements, and alignment initiatives across complex frameworks
• Excellent strategic, analytical and conceptual skills with a solution-oriented mindset
• Exceptional stakeholder management skills, with the ability to convey complex actuarial and technical concepts clearly and effectively to technical and non-technical audiences
• Empathy. assertiveness, passion to perform, willingness to take on responsibility and opinion leadership as well as driving topics and providing guidance and feedback to teams and project groups
• Adhesion to the Munich Re leadership values and ability to continuously work on own development
• Strong written and verbal communication in English

 Job Evaluation: not yet graded (B expected)

Please use the online application and submit it by 2024/02/26 at the latest (10-day deadline).

Our general internal job advertisement (ISA) guideline can be found on MR Web München at ME@MUNICHRE >> Arbeitsrecht & Regelungen >> ISA-Richtlinie. Information on selection procedures for senior and management positions can also be found in the ISA Guideline.

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

Heidi Feldmeier, Senior HR Business Partner. Königinstraße 107, 80802 München, GERMANY