Senior Actuarial Associate, IL Pricing

Company
Munich Re Life US
Location
New York , United States

The Senior Actuarial Associate plays a significant role in evaluating and pricing individual life reinsurance opportunities. Specifically, this position assists in building pricing models (using AXIS software), setting assumptions, solving for rates and allowances, and evaluating the appropriateness of final pricing rates. This role also provides ad-hoc analysis for the deal team.

 

Your Job:

 

Assumption Setting:

• Analyze, set, document, present and defend assumptions for IL reinsurance opportunities
• Proactively seek assistance from appropriate sources (i.e. Bio, Underwriting) and provide assistance to experienced pricing actuaries for both educational purposes and to assist in delivering timely deals

 

New Business Model Pricing:    

• Modelling IL reinsurance opportunities
• Provide innovative solutions for model problems
• Monitor models for problems to alert pricing government to ensure an accurate representation of IL New Business

 

Special Projects:

• Financial review development
• Generic IL Pricing assumption setting (i.e.. RBC, PBR)
• Generic model research and refinement
• Evaluation and maintenance of IL modelling process documentation
• Ad-hoc Requests

 

Your Profile:

 

• Bachelor’s degree in actuarial science, mathematics, statistics, finance, risk management or related field.
• ASA required with progress towards FSA.
• 3+ years of life insurance or reinsurance knowledge preferred
• Insurance or reinsurance pricing knowledge preferred
• Ability to learn how to efficiently use various software packages (AXIS for pricing, Microsoft Excel, Microsoft Access, SQL).

 

Our Benefits

 

• Comprehensive Medical Plans
• PTO and Family Leave
• Retirement Savings Plans
• Dental and Vision Plans
• Life and Disability insurance
• Employee Assistance Program
• Adoption Assistance
• Wellness Programs - Calm, WW, SoFI, Virgin Pulse
• Commuter Benefits
• FSA and HSA Plans
• Hospital Indemnity, Critical Illness and Accident Plans

 

At Munich Re US, we see Diversity 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.

 

About Munich Re

 

Together, we engage with everything we have and are, to help humankind act braver and better.

 

As the world’s leading reinsurance company with more than 40,000 employees in over 50 locations around the globe, Munich Re introduces a paradigm shift in the way you think about insurance.  By turning uncertainty into manageable risk, we enable fundamental change.  We recognize Diversity, Inclusion, and Belonging as a key priority with a culture that welcomes different thoughts and opinions.  We dare to think big and are continuously innovating on behalf of our clients.

 

For New York City based employees, the base salary range anticipated for this position is $142,652 - $157,668, plus an opportunity for an annual company bonus based upon a percentage of eligible pay.

 

The salary estimate displayed represents the typical salary range for candidates hired in this position. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role.

 

Please note that only candidates who are selected for interview will be contacted directly. We thank all candidates for their interest.