Chief Actuary (m/f/d)

We are looking for a Chief Actuary based in Munich or London.

Your Team

Be part of a dynamic and global team. You will be working with international colleagues, with a direct team of 60+ expert actuaries located in Europe and North America.

The Impact You Will Have

As the Chief Actuary at Allianz Commercial, you will play a pivotal role in shaping the financial stability and strategic direction of the company. By developing and implementing the Allianz Commercial actuarial strategy, you will ensure that actuarial insights guide solid balance sheet positions and support portfolio management rooted in technical excellence. As the leader and the sponsor of the global actuarial community, you will cultivate a culture of innovation and excellence and develop actuarial processes and talents that are future ready.

Some of your specific responsibilities include:

• Orchestrate estimation and validation of technical provisions with accuracy and value-adding business insights for stakeholders, and chair the Loss Reserve Committee quarterly.
• Oversee the development, maintenance, and dissemination of internal actuarial risk capital models and their insights for the risk & solvency closing, pricing parameterization, reinsurance modeling and other risk-return based analytics.
• Provide forward looking diagnostics around portfolio performance, guiding portfolio & cycle management activities and forming a fundamental opinion around business plan.
• Provide oversight on technical pricing performed by CUO Pricing, by reviewing the segment analyses, key pricing input parameters, pricing tools, and outputs such as effective rate changes and rate adequacy metrics.
• Collaborate with other Finance functions to ensure efficient closing processes, providing technical provision inputs for multiple accounting regimes including IFRS17, Solvency II, and relevant local GAAPs.
• Beyond legal entity remits, collaborate with Group Actuarial and other commercial P&C entities within Allianz to drive transparent commercial performance views and support with best actuarial practices.
• Drive innovation and improvement in actuarial processes and tools and support company-wide technical data management and analyses.
• Reporting to the CFO, lead and manage the global actuarial team, including direct reports and matrix relationships, with guidance on strategic objectives and fostering a high performance culture.
• Foster collaboration across technical areas across Allianz Group to exchange and develop talents and support them into broad career paths.
• Serve as the interface to the Allianz Commercial Management Board, internal/external clients, Group Actuarial, regulators, and external auditors, ensuring effective communication and understanding of business exposure and processes.

What You’ll Bring to the Role

• University degree in Actuarial Science, Mathematics, Economics or any related field.
• In-depth knowledge of actuarial requirements for an international commercial P&C portfolio, particularly with high volatility segments and challenging data availability.
• Deep understanding of the product portfolio, including coverage, local legislative environment affecting insurance, and distribution channels.
• Robust knowledge of financials, investment, and macroeconomic trends.
• Comprehensive understanding of principles and practices of other relevant functional areas, including Claims, Underwriting, Reinsurance, and Accounting, particularly local and international accounting rules as applied to reserving.
• Experience in leading and developing international workforce in the environment of changes and transformations such as restructuring, integration, and expansion into new markets.
• Expertise in integrating technology AI into various business functions, enhancing efficiency, and fostering a culture of data-driven innovation is crucial.
• Ability to make sense of complex issues and respond to complex/ambiguous situations by identifying and initiating appropriate remediation and follow-up, anticipating and resolving issues before they transpire.
• Ability to understand, elaborate, and convey information clearly and effectively in respect to the audience/level of management, both verbally and in writing.
• Effectively evaluate information from multiple sources to identify business issues, involve stakeholders in decision-making, and commit to action and drive the organization to execution.
• Ability to recognize and deal with disputes in a rational, balanced, and effective way.
• A deep knowledge of artificial intelligence (AI) and machine learning (ML), with the ability to leverage AI-driven insights to shape strategic decisions and drive innovation across the organization.
• Fluent in English; proficiency in German is a plus.

What’s in it for you?

We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach.

With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.

Allianz Commercial is the center of expertise of Allianz Group, insuring mid-sized businesses, large enterprises, and special risks. Our customers include top consumer brands, financial institutions, industry leaders, the global aviation and shipping industries, as well as family-owned and medium-enterprises. We also cover unique risks such as offshore wind farms, infrastructure projects and film productions. Our clients trust us to provide a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services, and seamless claims handling. Allianz Commercial helps customers to prepare for what's ahead.

At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. And the foundation for this is our inclusive workplace, where people and performance both matter, and nurtures a culture grounded in integrity, fairness, inclusion and trust. We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.

People with disabilities: We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email agcsglobalcareers@allianz.com.

Recruitment Agencies: Allianz Commercial has an in-house recruitment team, which focuses on sourcing great candidates directly. Allianz Commercial does not accept unsolicited resumes from agency or search firm recruiters. Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired.