Actuarial Analyst - Longevity

Together, we engage with everything we have and are, to help humankind act braver and better.

About UK Life Branch: With the offices in London, it forms the Life 1 division of Munich Re. The UK life market is one of the most competitive life markets in the world. We understand that Life insurers work in a dynamic market where medical progress, demographic trends and changing lifestyles are constantly giving rise to new risk landscapes. This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition. So we need a smart strategy and structure in order to succeed. At UK & Ireland Life we have three pillars to our business strategy: protection, longevity and reinsurance structuring. All three are key to the success of our business so it’s important to look at the big picture.

In terms of clients, we trust them as experts of their business and provide them with the financial strength of the world’s largest reinsurer, global expertise and sharp pricing so that they are both competitive and profitable.

About the role: The Longevity Actuarial Assistant has a key role in supporting the Longevity team in delivering new profitable business opportunities. This is a great opportunity for an ambitious and organised individual to join a highly successful, friendly team in an exciting, challenging and rewarding environment.

Key Responsibilities:

• Delivering quotes for new business tenders both for UK and International opportunities.
• Derive best estimate bases for Longevity quotations.
• Present key metrics and analysis to support commercial negotiations both internally with key stakeholders and externally with clients.
• Draft written reports and documentation for results and methods employed.
• Be responsible for delivering accurate and timely work as part of a team working together towards tight deadlines.
• Assist in the assessment of deal attractiveness.
• Work alongside the Longevity actuarial team to further enhance our relationship with client pricing.
• Support the Longevity proposition, basis development and overall strategy for both UK and International markets as required.

Competencies:

• Nimble learning (we think big) – you actively learn by tackling new problems and trying out new solutions, quickly learning from both successes and failures.
• Collaborates (we lead the ‘we’) – you work together with others in your team, the department and wider business (where relevant) to meet shared commitments.
• Optimises work processes (we grow with our clients) – you know the most effective and efficient processes to get things done and are constantly assessing how they can be improved.
• Resourcefulness (we care and dare) – you find a way to get things done with the best use of the resources available to you, knowing when to ask for support from others, but also offering your support to others where you feel your expertise, knowledge and skills can add value.
• Communicates effectively (we are clear and authentic) – you communicate clearly and appropriately with your audience. You also share ideas, learn from others and keep stakeholders informed about progress, problems, opportunities and solutions, soliciting feedback along the way.

Key Skills & Experience:

• The Longevity Actuarial Assistant is primarily responsible for pricing quotes for specific deals and providing indicative terms to clients.
• The role may also entail supporting the wider Longevity team in delivering upon agreed strategy, including:

• Work to enhance and develop our pricing basis for UK and International markets.
• Support in developing our market proposition for longevity business within the UK market.
• Assist in a variety of Longevity projects and development work streams.
• Work successfully with the team and with others in the branch.

Qualifications and Educational Requirements:

• Relevant Diploma or equivalent experience or Degree.
• Actuarial student part way through their exams.
• Up to 2 years prior experience in an actuarial role.

Thought Leaders:

You will demonstrate inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well. You will treat your colleagues and sales and business partners fairly and with respect.

Regulatory & Conduct Requirements:

Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.

Benefits:

You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%. We are one of the few employers to offer fully paid 6 months family leave for times when you need it the most.

Diversity, Equity & Inclusion:

At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for! All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.