Valuation Actuary

Valuation Actuary (m/f/d)

Company: Munich Re

Location: Munich, Germany

Global Oversight

for the central division Central Life Reserving

Central Life Reserving (CLR) is responsible for overseeing the valuation of Munich Re Group’s life reinsurance liabilities on all global bases. Within this division, the Global Oversight department ensures that appropriate standards are established and followed consistently across the organization. It helps to guarantee that the Group has appropriately identified and reserved for the costs and risks from the contracts that have been written.

Key topics within the Valuation & IFRS17 Reporting section include quality assurance and validation of the local valuation results according to Solvency II, IFRS, and HGB for the units in Munich, Europe & Latin America, UK, US, and Canada. This includes close contact with the respective local valuation teams. Further topics are the consolidation, analysis, and reporting of various quarterly and annual valuation results such as the Source of Earnings Analysis, Forecast, multi-year IFRS result projections, and valuation model and assumption changes.

Is exploring new and complex topics your passion? Do you like to present and explain complex matters in a simple way? You are keen on helping others to learn and grow in their roles? If this sounds like you, we invite you to apply to join our diverse and dynamic team!

Your Job

• Be the liaison within CLR for the local valuation team of the Canada business unit and support decision making. This includes:
  • Analyze and quality assure the results in all relevant bases, and related management reporting
  • Discuss and quality assure model and assumption changes
  • Be a trusted partner to your business unit by providing and explaining guidance and central processes
  • Analyze structured business opportunities (FinRe) with a focus on valuation and risk transfer
• Perform analysis on the LH results and related reporting for senior management
• Consolidate and draft reports pertaining to the CLR global model and assumption change process (e.g. CLR-internal management reports, LH contribution to the Group Actuarial Function Report; report to the Reinsurance Committee for their decision making)
• Represent CLR workstreams in Munich Re internal projects
• Support or perform on-site valuation reviews in the international LH Re organization
• Develop and maintain working relationships with various interfaces throughout Munich Re, including the valuation teams in the business units as well as internal Munich Re accounting, pricing, risk management departments, and internal and external auditors.

Your Profile

• Very good Master's degree in mathematics, physics, statistics, actuarial science, or comparable studies
• Professional actuarial experience in Life or Health
• Progression towards or membership in a recognized Actuarial Association
• Strong conceptual, analytical, and communication skills and the ability to find solutions by looking at a topic in its entirety
• Being able to be precise where needed and pragmatic wherever reasonable
• Highly dedicated, motivated, and results-driven
• Skills and interest in automation and process optimization
• Experience with actuarial software (such as AXIS or similar) would be an asset
• Ability to present complex matters in a simple way
• Talent for managing interfaces and building networks; be a team player
• Very good command of spoken and written English

Application Instructions

Please apply through our online portal and upload your CV, as well as your academic reference letters, including school certificates, graduation certificates, and transcripts of record for any degrees. If applicable, please also submit reference letters from any previous employers or certificates from any other qualifications you may have. We recommend writing a cover letter to tell us more about why the position and Munich Re is of interest to you.

About Us

As the world's leading reinsurance company with more than 11,000 employees at over 50 locations, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into a manageable risk, we enable fundamental change. Join us working on topics today that will concern society tomorrow, whether that be climate change, major construction projects, medical risk assessment, or even space travel.

Together we embrace a culture where multiskilled teams dare to think big. We create the new and the different for our clients and cultivate innovation.

Sounds like you? Push boundaries with us and be part of Munich Re.

Our employees are our greatest strength. That’s why we offer them a wide range of benefits. You can find some examples below.

Unlock Your Potential

• Diversity, Equity & Inclusion: We embrace the power of differences and are convinced that diversity fosters innovation and resilience and enables us to act braver and better.
• Continuous Learning: We believe that continuous learning is a key differentiator and critical for building new skills and accelerating growth.
• Career Mobility: We actively support career mobility, and our strong global and regional presence offers a wealth of career growth opportunities for you.

Rewards & Recognition

• Competitive Salary: Appropriate compensation for your high level of commitment.
• Retirement Provision: State of the art in-house pension solutions.
• Work-Life Balance: Promoting the compatibility of family and work in addition to overall work-life balance.
• Health Management: Focus on your physical and mental health far beyond legal requirements.
• Hybrid Working: Living the best of both worlds – we offer you a very flexible approach as well as the opportunity to work from abroad on an occasional basis.

* Munich Re not only stands for fairness with regard to its clients; it is also an equal opportunities employer. Severely disabled candidates will also be prioritized if equally qualified.