Munich Re
Corporate Reserving – Senior Actuary
We are 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’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, and the further development of actuarial methods, the underlying systems, and tools. Additional responsibilities are the assessment of reserve uncertainty and reserve risk, as well as financial reporting on non-life technical provisions under IFRS 17, 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 various stakeholder groups.
Collaborate with a diverse team to maximize the quality of Corporate Reserving’s deliverables and the success of Munich Re Group.
Act as interface in Corporate Reserving for Central Reserving (Group), FMR, NEXT Insurance and ERGO Group, developing trusted relationships and aligning different interests in a complex organization.
Complete actuarial analyses which may include ultimate loss projections, monitoring of loss development, quantitative and qualitative portfolio analysis, and research projects.
Ensure quarterly and annual, internal as well as external closing and reporting processes for Next Insurance work smoothly and are concluded with a very high quality.
Achieve integral collaboration with the NEXT and ERGO teams to ensure a deep understanding of the markets, consistent approaches and full transparency of reserving insights across stakeholders and provide reserving perspectives to enable informed strategic business decisions.
Qualifications
Bachelor’s degree in economics, mathematics, actuarial science or a similar qualification with a strong quantitative focus; Masters, or MBA preferred.
ACAS or FCAS (or comparable credential) preferred.
Experience in non‑life (re)insurance including reserving, pricing, underwriting, risk management, accounting, reporting and/or controlling.
Excellent quantitative and analytical skills with emphasis on practical application.
Strong leadership and interpersonal skills; ability to influence and negotiate with others and create acceptance for proposals.
Strong verbal and written communication skills, including the ability to explain technical concepts to non‑technical audiences.
Familiarity with IFRS 17, 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 and Benefits Base salary range anticipated for this position in NYC is $170,900 – $230,300 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits: health insurance coverage, employee wellness program, life and disability insurance, 401(k) match, retirement savings plan, paid holidays and paid time off (PTO).
Seniority level Mid‑Senior level
Employment type Full‑time
Job function Finance
Industries Insurance
We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
#J-18808-Ljbffr
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’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, and the further development of actuarial methods, the underlying systems, and tools. Additional responsibilities are the assessment of reserve uncertainty and reserve risk, as well as financial reporting on non-life technical provisions under IFRS 17, 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 various stakeholder groups.
Collaborate with a diverse team to maximize the quality of Corporate Reserving’s deliverables and the success of Munich Re Group.
Act as interface in Corporate Reserving for Central Reserving (Group), FMR, NEXT Insurance and ERGO Group, developing trusted relationships and aligning different interests in a complex organization.
Complete actuarial analyses which may include ultimate loss projections, monitoring of loss development, quantitative and qualitative portfolio analysis, and research projects.
Ensure quarterly and annual, internal as well as external closing and reporting processes for Next Insurance work smoothly and are concluded with a very high quality.
Achieve integral collaboration with the NEXT and ERGO teams to ensure a deep understanding of the markets, consistent approaches and full transparency of reserving insights across stakeholders and provide reserving perspectives to enable informed strategic business decisions.
Qualifications
Bachelor’s degree in economics, mathematics, actuarial science or a similar qualification with a strong quantitative focus; Masters, or MBA preferred.
ACAS or FCAS (or comparable credential) preferred.
Experience in non‑life (re)insurance including reserving, pricing, underwriting, risk management, accounting, reporting and/or controlling.
Excellent quantitative and analytical skills with emphasis on practical application.
Strong leadership and interpersonal skills; ability to influence and negotiate with others and create acceptance for proposals.
Strong verbal and written communication skills, including the ability to explain technical concepts to non‑technical audiences.
Familiarity with IFRS 17, 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 and Benefits Base salary range anticipated for this position in NYC is $170,900 – $230,300 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits: health insurance coverage, employee wellness program, life and disability insurance, 401(k) match, retirement savings plan, paid holidays and paid time off (PTO).
Seniority level Mid‑Senior level
Employment type Full‑time
Job function Finance
Industries Insurance
We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
#J-18808-Ljbffr