Title:  Actuary Senior

Actuary Senior

We’re adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities.

As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

The Opportunity

Future focused and always one step ahead

We are adding to our diverse team of experts and are looking to hire a Senior Actuary to support the Global Clients/North America (GC/NA) US Reserving team in FMR Corporate Reserving.

The responsibility of Corporate Reserving is to use quantitative and qualitative methods to perform and oversee the loss reserve analyses for Munich Re’s property and casualty business in the US. This involves continuous monitoring of the reserve position, and the further development of actuarial methods, the underlying systems, and tools to support this.  Additional responsibilities are the assessment of reserve uncertainty and reserve risk, as well as financial reporting on non-life technical provisions under IFRS17, Solvency II, US GAAP and Statutory standards.

As part of the GC/NA US Reserving team, your role is to act as a liaison between Corporate Reserving and a GC/NA US Business Unit team lead and give guidance to actuaries with similar tasks as well as review larger industry events, such as Asbestos and Environmental liabilities, and other Munich Re identified global events.  In this highly visible role, you will collaborate closely with various stakeholders, e.g., Business Unit Reporting Unit Leads, Accounting, Claims and the CFO.

Responsibilities: 

• Collaborate in a diverse team with various backgrounds and skills aiming to maximize the quality of Corporate Reserving’s deliverables and the success of Munich Re Group
• Communicate and act as an interface between Corporate Reserving and the Global Reserving team, Business Unit Production teams, Accounting, and Claims staff locally and globally. Developing these interfaces into trusted relationships and aligning different interests in a complex organization
• Provide guidance and training for actuaries and analysts, while helping them formulate development opportunities
• Complete actuarial analyses which may include ultimate loss projections, monitoring of loss development, quantitative and qualitative portfolio analysis, and research projects.  Lead projects/analyses requiring multiple resources including those who are not direct reports.
• Participate and create actuarial presentations and present results/topics to both actuarial and non-actuarial audiences, including management.
• Achieve an integral collaboration with assigned GC/NA businesses to ensure a deep understanding of the markets by reserving actuaries, ensuring full transparency of reserving insights for the business units and providing reserving perspectives to enable informed strategic business decisions

Successful candidates will possess the following experience, skills, and capabilities:

• Bachelor’s degree in mathematics, actuarial science, economics, business, or related field requiring modeling, programming, or quantitative analysis.
• Six+ years of (re)insurance/actuarial experience, including reserving, pricing, underwriting, risk management, accounting, reporting and/or controlling or similar disciplines. Experience in casualty lines preferred.
• Membership in the Casualty Actuarial Society and in the American Academy of Actuaries. The equivalent credentials for international candidates will be considered.
• Strong project management, process optimization and change management skills including the ability to coordinate and direct resources outside department.
• Strong interpersonal skills.  Ability to influence and negotiate with others and create acceptance for proposals.
• Effective oral and written communication skills, including the ability to explain technical concepts to non-technical audiences.
• Good time management and organizational skills include managing conflicting priorities and completing multiple tasks and projects.
• Excellent quantitative and analytical skills with emphasis on practical application
• Experience with insurance-related databases and data warehouses

At Munich Re, we see Diversity, Equity 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.