Munich Re
Corporate Reserving – Senior Actuary
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Company Münich 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 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.
Opportunity Future focused and always one step ahead!
We’re adding to our diverse team of experts and are looking to hire a Senior Actuary to enrich the MRAS Corporate Reserving Team.
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 includes continuous monitoring of the reserve position, further development of actuarial methods, underlying systems, and tools.
Additional responsibilities are the assessment of reserve uncertainty and reserve risk, and financial reporting on non‑life technical provisions under IFRS17, Solvency II, US GAAP and statutory standards.
Responsibilities
Lead actuarial analyses and closing processes for the business written by NEXT Insurance.
Ensure smooth processes and manage the relationship with actuarial and finance teams across Munich Re Group’s stakeholder groups.
Collaborate with a diverse team to maximize the quality of Corporate Reserving’s deliverables.
Interface as a liaison for Central Reserving (Group), FMR, NEXT Insurance and ERGO Group, developing trusted relationships and aligning interests in a complex organization.
Complete ultimate loss projections, monitor loss development, perform quantitative and qualitative portfolio analysis and research projects.
Ensure quarterly and annual internal and external closing and reporting (statutory, US GAAP, Solvency II and IFRS17) processes for Next Insurance business work smoothly and with high quality.
Collaborate with NEXT and ERGO teams to ensure deep understanding of the markets, consistent approaches, full transparency of reserving insights and provide reserving perspectives to enable informed strategic business decisions.
Qualifications
Bachelor’s degree in economics, mathematics, actuarial science or a similarly quantitative field; Master’s or MBA preferred.
ACAS or FCAS (or comparable credential) preferred.
Experience in non‑life (re)insurance, including reserving, pricing, underwriting, risk management, accounting, reporting or controlling.
Excellent quantitative and analytical skills with emphasis on practical application.
Strong leadership and interpersonal skills; ability to influence, negotiate and create acceptance for proposals.
Strong verbal and written communication skills; ability to explain technical concepts to non‑technical audiences.
Familiarity with IFRS17, Solvency II, US GAAP and statutory standards.
Project management, process optimization and change management experience.
Experience with insurance‑related databases and data warehouses is an advantage.
Salary & Benefits The base salary range anticipated for this position in NYC is
$170,900 – $230,300
plus opportunities for company bonus based upon a percentage of eligible pay.
The company offers a variety of benefits including health insurance coverage, an employee wellness program, life and disability insurance, a 401(k) match, retirement savings plan, paid holidays and paid time off (PTO).
Location & Diversity The Company is open to considering candidates in numerous locations, including Princeton and NYC.
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.
Equal Opportunity Employer We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
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Company Münich 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 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.
Opportunity Future focused and always one step ahead!
We’re adding to our diverse team of experts and are looking to hire a Senior Actuary to enrich the MRAS Corporate Reserving Team.
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 includes continuous monitoring of the reserve position, further development of actuarial methods, underlying systems, and tools.
Additional responsibilities are the assessment of reserve uncertainty and reserve risk, and financial reporting on non‑life technical provisions under IFRS17, Solvency II, US GAAP and statutory standards.
Responsibilities
Lead actuarial analyses and closing processes for the business written by NEXT Insurance.
Ensure smooth processes and manage the relationship with actuarial and finance teams across Munich Re Group’s stakeholder groups.
Collaborate with a diverse team to maximize the quality of Corporate Reserving’s deliverables.
Interface as a liaison for Central Reserving (Group), FMR, NEXT Insurance and ERGO Group, developing trusted relationships and aligning interests in a complex organization.
Complete ultimate loss projections, monitor loss development, perform quantitative and qualitative portfolio analysis and research projects.
Ensure quarterly and annual internal and external closing and reporting (statutory, US GAAP, Solvency II and IFRS17) processes for Next Insurance business work smoothly and with high quality.
Collaborate with NEXT and ERGO teams to ensure deep understanding of the markets, consistent approaches, full transparency of reserving insights and provide reserving perspectives to enable informed strategic business decisions.
Qualifications
Bachelor’s degree in economics, mathematics, actuarial science or a similarly quantitative field; Master’s or MBA preferred.
ACAS or FCAS (or comparable credential) preferred.
Experience in non‑life (re)insurance, including reserving, pricing, underwriting, risk management, accounting, reporting or controlling.
Excellent quantitative and analytical skills with emphasis on practical application.
Strong leadership and interpersonal skills; ability to influence, negotiate and create acceptance for proposals.
Strong verbal and written communication skills; ability to explain technical concepts to non‑technical audiences.
Familiarity with IFRS17, Solvency II, US GAAP and statutory standards.
Project management, process optimization and change management experience.
Experience with insurance‑related databases and data warehouses is an advantage.
Salary & Benefits The base salary range anticipated for this position in NYC is
$170,900 – $230,300
plus opportunities for company bonus based upon a percentage of eligible pay.
The company offers a variety of benefits including health insurance coverage, an employee wellness program, life and disability insurance, a 401(k) match, retirement savings plan, paid holidays and paid time off (PTO).
Location & Diversity The Company is open to considering candidates in numerous locations, including Princeton and NYC.
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.
Equal Opportunity Employer We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
#J-18808-Ljbffr