Valuation Actuary

Location

Munich, Germany

Job type

Full-Time

Work mode

Hybrid

Job level

Professional

Job ID

11025

Company

Munich Re

Employment type

Regular

Area of expertise

Actuarial & Risk Management

Munich Re's Central Life Reserving (CLR) division oversees the reserving and financial reporting within the Life and Health Reinsurance Portfolio. Our team plays a crucial role in Life and Health Reinsurance's success by providing reliable valuations and insightful analysis. As a global, diverse, and inclusive community, we relentlessly pursue excellence to support informed decision-making in the Life & Health Reinsurance business. We ensure consistent reporting, diligent monitoring, and compliance utilizing state-of-the-art tools and technology. By fostering collaboration across regions and cultures, we cultivate leaders and experts while driving our mission forward.

In this role as Valuation Actuary you will be working on Solvency II reporting and risk modelling. You'll reporting to the Head of CLR1.2.1 and be in close collaboration with other colleagues in your team, central functions such as IRM, FRR & RIA, as well as local LH Re valuation units.

Exploring new and complex topics is your passion? Do you like to present 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

• Developing an in-depth understanding of Munich Re's global Life and Health Business
• Working together with colleagues in the Solvency II reporting team and business unit contacts to complete quarterly and annual quality guaranteed reporting tasks on time
• Acting as a contact in CLR for the SII internal risk model, incl. developing our methodology and guidance, maintaining of code base, supporting the validation, and performing quality assurance, reporting and analytics
• Identifying and specifying value generating developments of our analytical tools – supporting IT projects/tools as needed, such as LRCF, risk model kernel, etc.
• Getting a deep understanding of SII and IFRS standard and align the modelling of these two reporting in an efficient way
• Develop, implement and harness the power of AI for CLR, with focus on reporting and analytics support, coding enhancement, etc.
• Representing CLR in Munich Re internal projects

Your Profile

• Master's degree with a quantitative or technical background (e.g. in mathematics, physics, statistics, actuarial science)
• Professional actuarial experience in Life or Health (re)insurance
• An actuarial qualification (e.g. FSA, DAV, etc.), or working towards one
• Strong analytical skills together with high motivation and a solution oriented mindset
• Good knowledge of Life & Health reserving is a strong advantage
• Experience in risk modelling for life insurance business is a plus
• Practical knowledge in one or more of SQL, Python, Matlab is a plus
• Highly dedicated, motivated and results-driven
• Working collaboratively and effectively in a dynamic international group – being good at managing interfaces and building networks
• Strong conceptual, analytical and communication skills
• Very good command of spoken and written English

Application Instructions

In order to consider your application, we require your application to be submitted via our online applicant portal. In addition to uploading your CV, we recommend writing a cover letter to tell us more about why the position 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.

Münchener Rückversicherungs-Gesellschaft
Vesselina Markova
• HR Consultant
Königinstraße 107
• 80802 München
• GERMANY

Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.