Assistant Actuary, Individual Life Pricing
This position supports the Individual Life business function in pricing new opportunities, reviewing models and assumptions, managing inforce business, and conducting market research.
New York , United States
Munich Re Life US is currently seeking an Assistant Actuary in the Individual Life Pricing Department. This person will be part of a dynamic team responsible for developing traditional Individual Life reinsurance business solutions.
- Pricing new opportunities
- Evaluate client initiatives to understand key risks and set appropriate prices
- Build models to analyze profitability of potential deals
- Summarize results and communicate to Senior Management
- Review models built by others
- Managing Inforce Business
- Review existing business to understand drivers of profitability
- Reviewing Models and Assumptions
- Maintain model templates and develop tools to improve efficiency
- Perform analysis of actuarial assumption updates
- Conducting Market Research
- Perform research on market trends among clients and competitors
- FSA Designation required
- Bachelors degree in Statistics, Finance, Economics, Risk Management, Mathematics or Actuarial Science
- 2-3 years experience in individual life reinsurance or individual life pricing
- 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, SQL).
- Ability to communicate output/results effectively
- Ability to work with cross-functional teams
- Ability to manage multiple projects/requests simultaneously
- Attention to Detail is critical
- Strong math and analytical skills
- Technical proficiency – with the ability and interest to learn new skills and successfully transfer existing skills to others in the group.
- Ability to prioritize multiple work tasks.
- Proven independent problem solving ability.
- Solid interpersonal and communication skills.
Munich Re Life US aspires to be the premier reinsurance business partner that delivers exceptional value to our clients and stakeholders. As the US-based life subsidiary of one of the world's largest reinsurance companies, we are the industry leader in delivering world-class service and solutions to many of the most recognized insurance companies around the globe. We offer a highly competitive total compensation package that rewards hard work and success.