Senior Valuation & Reporting Actuary

Munich Re Markets: Senior Valuation & Reporting Actuary (m/f/d)

Company: Munich Re

Location: Munich, Germany

Munich Re Markets structures and administers bespoke reinsurance solutions for Munich Re’s life insurance clients with a focus on clients’ products in the savings, retirement, and investment space. These transactions typically involve combinations of financial markets and insurance risks while delivering a capital and/or risk management impact relevant to an insurer's corporate finance management and planning.

Business written thus far, as well as the existing pipeline, offer a very interesting and insightful mixture of insurance contracts, the majority of which is measured as financial instruments (IFRS 9), and minor parts as insurance contracts (IFRS 17). The section is responsible for a broad range of tasks around monitoring and reporting of this business, with divisional interfaces to divisions of Risk Management, Reserving, or Controlling, as well as to risk carriers in various countries.

While formally reporting duties are recurring, each reporting’s content is always different due to a variety of reasons and effects. Further to these duties, we shape our future by ultimately striving for the highest possible automation of our processes. A high degree of automation is required to further scale up our business and, in the end, to enable the division to succeed with its ambition.

We are looking for an experienced actuary to strengthen our team. Are you a self-motivated number cruncher with a passion for coding? Are you interested in working in a multinational and interdisciplinary team? Then a multitude of challenging tasks awaits you!

Your Job

Some tasks within the team currently undergo some re-allocation, which also allows for discussion of your preferences. Tell us what you are interested in, and convince us where you could add the most value for the division! Possible tasks include, but are not limited to:

• Reporting of the division’s life reinsurance business according to the following standards:
  • Solvency II
  • IFRS 17 and IFRS 9
  • Special local GAAP topics (Chinese GAAP / C-ROSS, HGB, Swiss Obligationenrecht) where applicable
• Comprehensive reporting for our special purpose primary insurance carrier (located within the EU), from IFRS to the full Solvency II balance sheet
• Interface to the neighbored Modelling team for non-hedged business
• Interface to Controlling, from Annual Planning via Quarterly Steering Reports to Value-based Management

Regardless of the above, a major part of everyone’s tasks is to drive further automation by detecting and closing gaps by coding in R and/or SQL. A general contribution to other tasks of the team, one-off or recurring, such as the overarching quality assurance and processes around internal and external audit, is also a task of all team members.

Senior position holders’ tasks also have a major share in advising and developing colleagues.

Your Profile

• University degree in (actuarial/finance) mathematics, physics, or informatics; a relevant further qualification is desired (e.g., Actuary with focus on accounting, life insurance, or ERM)
• Broad and deep multi-year professional experience in above areas, and in particular advanced understanding of IFRS/Solvency II, qualifying for a senior position
• Solid understanding of and experience in Life Reinsurance, while knowledge of or experience with Munich Re Markets’ hedged business is an asset
• Strong desire for the highest possible automation, as well as very advanced skills in R & SQL to realize the automation
• Experience in project work and, ideally, project management
• Excellent analytical and conceptual skills, with a good sense for pragmatism vs. exactness
• Proven track record in directing and developing colleagues
• Fluent business English; German would be considered an advantage

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.