Reserving Actuary (Non-Life)

Reserving Actuary non-life (m/f/d)

Company: Munich Re

Location: Munich, Germany

Central Reserving (CR) uses quantitative and qualitative methods to perform and oversee the loss reserve analyses for Munich Re’s group-wide property and casualty business. This includes continuous monitoring of the group’s reserve position as well as the further development of actuarial methods, underlying systems, and tools. Additional responsibilities include the financial reporting on non-life technical provisions. With the introduction of IFRS 17, a new financial reporting and analysis landscape was established.

To complement our team of experts in IFRS 17, we are looking for motivated individuals to perform in-depth analyses on IFRS 17 closing figures and to translate them into a reporting and business context. You will gain an in-depth overview of the non-life reinsurance business of Munich Re and have the opportunity to contribute and experience the interaction between IFRS 17 and its predecessor IFRS 4 from the perspective of an actuary. The IFRS 17 Closing, Reporting & Analytics team enables IFRS 17 actual closing and forecasting.

YOUR JOB

• Performing analysis, quality assurance, and explanation of IFRS 17 closing figures in close cooperation with Munich Re branches and subsidiaries.
• Preparing communications on IFRS 17 topics for various internal and external stakeholders such as board committees and auditors.
• Contributing to the further development of the systems and tool infrastructure for actuarial analyses as well as internal and external reporting requirements in cooperation with other departments.
• Ensuring quality in data deliveries of all reinsurance non-life entities for IFRS 17 calculations.
• Reconciling IFRS 17 to formerly IFRS 4 figures for both balance sheets and profit and loss statements.

YOUR PROFILE

• University degree with quantitative focus (e.g., mathematics, actuarial science, information technology, or economics).
• Actuarial expert with proven industry experience (e.g., in Reserving, Pricing, Risk Management, Underwriting, Actuarial Audit).
• Strong interest and background in financial reporting, with proven experience in existing valuation standards and experience according to IFRS 17.
• Excellent analytical and conceptual skills, as well as the ability to explain technical concepts to non-technical audiences.
• Excellent knowledge of Excel.
• Excellent command of English; good command of German is desirable.
• Strong knowledge of R, SQL, and Power BI.
• Experience with FSRI and FPSL.

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 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, enabling 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.

Münchener Rückversicherungs-Gesellschaft

Ryan Stewart

Human Resources

Apply now!