Valuation Actuary

Valuation Actuary (m/f/d)

Company: Munich Re

Location: Munich, Germany

The Valuation Munich & Madrid team of the department “Corporate Finance” in our Life & Health division calculates the reserves and provides earnings analyses for all reporting bases relevant for Munich Re’s Life & Health reinsurance business written in continental Europe, Latin America, and the Middle East. We are looking for an enthusiastic and motivated individual who wants to contribute to the success of the business and the unit.

In this role, you will work closely with other market experts in the valuation team, pricing actuaries, data engineers, and accountants. You will analyze portfolio data and reserve movements to identify drivers behind the business performance. You will share your insights in regular updates with relevant stakeholders and feed them into results planning and business steering processes.

Your Job

• Understanding the business and contracts in relevant markets and conducting analyses of reserve movements and result drivers (IFRS/SII)
• Performing assumption reviews and model refinements ensuring high quality standards in the implementation and documentation
• Preparing data updates including quality assurance and coordinating the corresponding processes with the actuarial and data management teams and other stakeholders
• Contributing to internal processes such as Value Based Management, Planning, and participating in ad-hoc projects

Your Profile

• Full or nearly completed actuarial qualifications and experience in at least one relevant actuarial topic (Solvency II, IFRS17, assumption setting, cash-flow modelling)
• Very good experience in communication with different levels as well as networking skills for establishing close connections with internal stakeholders
• Knowledge of cash-flow modelling tools (e.g. AXIS)
• Good knowledge of SQL and databases in general, knowledge of Python and related data transformation libraries, familiarity with Excel Pivots, Power BI, and similar reporting solutions
• Strong 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. 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.

Unlock your potential

• Diversity, Equity & Inclusion: we embrace the power of differences and are convinced that diversity fosters innovation and resilience.
• 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.