Actuary

Company
Munich Re America Services
Location
Princeton , United States

*We are open to this position being located in Princeton, NJ or New York City.

 

We’re adding to our diverse team of experts and are looking to hire an Actuary to enrich our Transformation, Operations and Processes team within 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 includes continuous monitoring of the reserve position, and the further development of actuarial methods, the underlying systems, and tools. Additional responsibilities are the assessment and quantification of reserve uncertainty and reserve risk, as well as financial reporting on non-life technical provisions under IFRS17, Solvency II, local GAAP and Statutory standards.

 

As part of the Transformation, Operations and Processes team, your role is to support our business unit reserving teams with actuarial know how, shape the processes and systems that are used for reserving and act as an interface between all local and global finance functions within Munich Re.

 

YOUR JOB

 

• Collaborating 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
• Organizing or participating in reserve reviews performed for the Munich Re America Pooled Companies, which includes evaluation of reserves for selected portfolios based on actuarial methods
• Driving automation and complexity reduction as well as the transition towards new ways of collaboration
• Creating new, modifying & enhancing existing applications, methods and systems in collaboration with global reserving, business units and IT
• Performing actuarial analyses (actual vs. expected comparisons, automated reserving calculations, business segmentation)
• Working in depth with and preparation/visualization of actuarial data, to facilitate decisions and processes
• Communicating and acting as an interface between Corporate Reserving and the Global  Reserving team, as well as Controlling, Accounting and Claims staff locally and globally
• Contributing to quarterly and annual, internal as well as external (Statutory, GAAP, and IFRS17) reporting and closing with regards to the non-life reinsurance business
• Building trusted relationships and aligning different interests in a complex organization

 

 

YOUR PROFILE

 

• Bachelor’s degree in economics, mathematics, actuarial science or a similar qualification with a strong quantitative focus; Masters or MBA preferred
• FCAS (or comparable actuarial society)
• Experience in non-life (re)insurance (applicable experience can include reserving, pricing, underwriting, risk management, controlling or similar disciplines)
• Excellent quantitative and analytical skills with emphasis on practical application
• Experience with insurance-related databases and data warehouses preferred
• Strong verbal and written communication skills, including the ability to explain technical concepts to non-technical audiences
• Strong project management, process optimization and change management skill

 

The Company is open to considering candidates in numerous locations, including NYC. The salary range posted below applies to the Company’s NYC location.

 

The base salary range anticipated for this position is $150,300 to $220,400, plus opportunity for company bonus based upon a percentage of eligible pay.  In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO). 

 

The salary estimate displayed represents the typical salary range for candidates hired in this position in NYC. 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. Most candidates will start in the bottom half of the range.

 

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.