Munich Re
ERM Actuary Senior – Munich Re
We are looking to hire a seasoned actuarial professional to join our Integrated Risk Management (IRM) team, based in our US P&C operations. This role leads risk capital modeling, portfolio analysis, scenario analysis, and contributes to our internal economic capital model.
Locations: New York City, Princeton (NJ), Chicago (IL), Philadelphia (PA), Hartford (CT), Amelia (OH). Hybrid position; 5–10% travel to various Munich Re offices.
Responsibilities
Lead recurring projects in risk capital modeling, portfolio analysis, and scenario analysis, leveraging resources and data from multiple areas throughout the company, including individuals who are not direct reports. Communicate results to senior management and other stakeholders to inform and support capital management and corporate risk transfer decisions.
Lead or support our annual Own Risk and Solvency Assessment (ORSA) and Risk Strategy update. Obtain both quantitative and qualitative information from each company and engage in dialogues with C‑suite executive management and other stakeholders to ensure comprehension and securing executive buy‑in.
Drive the continued development of the internal economic capital model to enhance our capabilities in capturing existing and new risks, including cyber, wildfire, climate risk.
Perform model validation of components or entire model independently or as part of a team. Evaluate model design and implementation relative to best‑practice standards.
Support the reporting process tracking changes to accumulation risk and the drivers of these changes across the US region.
Develop and deliver actuarial and risk management presentations to internal (underwriters, client managers, accountants, actuaries) and external (clients, conferences) audiences, including training and information presentations.
Qualifications
Ten or more years of (re)insurance/actuarial, risk management, or equivalent experience, preferably in multiple disciplines and client‑facing responsibilities.
Comprehensive knowledge of actuarial/statistical models, techniques, and their most effective and common applications.
Demonstrated ability to develop expertise on a given topic through self‑learning, research, and leveraging internal experts.
Experience with statistical programming language (e.g., R, Python) and other data analysis technical stack (e.g., SQL, git, Azure).
Broad knowledge of insurance company processes and functions, including knowledge of (re)insurance & products and financial metrics and data sources used in (re)insurance.
Bachelor’s degree in mathematics, Actuarial Science, Economics, Finance, Statistics or related field requiring modeling, programming, or quantitative analysis.
Preferred: Fellow of the Casualty Actuarial Society or similar international actuarial designation or CFA Charter holder or advanced degree in Actuarial Science, Economics, Finance, Mathematics or Risk Management.
Key Professional Attributes
Good time management, project management, and organizational skills, including the ability to manage conflicting priorities, complete multiple tasks and projects, and coordinate and direct resources outside of the department.
Strong interpersonal skills, with the ability to build relationships, influence, negotiate, and create acceptance for proposals. Ability to collaborate with peers across US and international organization.
Ability to apply sound judgment, analytical mindset, and problem‑solving skills to address complex and high‑profile issues.
Excellent oral and written communication skills, with the ability to effectively communicate technical issues to non‑technical stakeholders (both internal & external).
Travel and Location
Hybrid position based in New York, Princeton, Chicago, Philadelphia, Hartford, or Amelia.
5–10% travel to various Munich Re offices.
Salary Range:
$150,000 – $242,000 plus opportunity for company bonus based on a percentage of eligible pay. Additional benefits include health insurance coverage, employee wellness program, life and disability insurance, 401(k) match, retirement savings plan, paid holidays and paid time off (PTO).
At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. We strive to provide an inclusive workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. 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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Locations: New York City, Princeton (NJ), Chicago (IL), Philadelphia (PA), Hartford (CT), Amelia (OH). Hybrid position; 5–10% travel to various Munich Re offices.
Responsibilities
Lead recurring projects in risk capital modeling, portfolio analysis, and scenario analysis, leveraging resources and data from multiple areas throughout the company, including individuals who are not direct reports. Communicate results to senior management and other stakeholders to inform and support capital management and corporate risk transfer decisions.
Lead or support our annual Own Risk and Solvency Assessment (ORSA) and Risk Strategy update. Obtain both quantitative and qualitative information from each company and engage in dialogues with C‑suite executive management and other stakeholders to ensure comprehension and securing executive buy‑in.
Drive the continued development of the internal economic capital model to enhance our capabilities in capturing existing and new risks, including cyber, wildfire, climate risk.
Perform model validation of components or entire model independently or as part of a team. Evaluate model design and implementation relative to best‑practice standards.
Support the reporting process tracking changes to accumulation risk and the drivers of these changes across the US region.
Develop and deliver actuarial and risk management presentations to internal (underwriters, client managers, accountants, actuaries) and external (clients, conferences) audiences, including training and information presentations.
Qualifications
Ten or more years of (re)insurance/actuarial, risk management, or equivalent experience, preferably in multiple disciplines and client‑facing responsibilities.
Comprehensive knowledge of actuarial/statistical models, techniques, and their most effective and common applications.
Demonstrated ability to develop expertise on a given topic through self‑learning, research, and leveraging internal experts.
Experience with statistical programming language (e.g., R, Python) and other data analysis technical stack (e.g., SQL, git, Azure).
Broad knowledge of insurance company processes and functions, including knowledge of (re)insurance & products and financial metrics and data sources used in (re)insurance.
Bachelor’s degree in mathematics, Actuarial Science, Economics, Finance, Statistics or related field requiring modeling, programming, or quantitative analysis.
Preferred: Fellow of the Casualty Actuarial Society or similar international actuarial designation or CFA Charter holder or advanced degree in Actuarial Science, Economics, Finance, Mathematics or Risk Management.
Key Professional Attributes
Good time management, project management, and organizational skills, including the ability to manage conflicting priorities, complete multiple tasks and projects, and coordinate and direct resources outside of the department.
Strong interpersonal skills, with the ability to build relationships, influence, negotiate, and create acceptance for proposals. Ability to collaborate with peers across US and international organization.
Ability to apply sound judgment, analytical mindset, and problem‑solving skills to address complex and high‑profile issues.
Excellent oral and written communication skills, with the ability to effectively communicate technical issues to non‑technical stakeholders (both internal & external).
Travel and Location
Hybrid position based in New York, Princeton, Chicago, Philadelphia, Hartford, or Amelia.
5–10% travel to various Munich Re offices.
Salary Range:
$150,000 – $242,000 plus opportunity for company bonus based on a percentage of eligible pay. Additional benefits include health insurance coverage, employee wellness program, life and disability insurance, 401(k) match, retirement savings plan, paid holidays and paid time off (PTO).
At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. We strive to provide an inclusive workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. 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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