Hiring: Head of Capital

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this. At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

You will support the activities of Munich Re Specialty - Global Markets specifically MRSL and MRSG managing the Capital Team and the operation, uses and development of the Internal Model (IM). You will maintain the code, documentation and parameterisation, and support the IM validation process. The Head of Capital will provide actuarial input into key business processes including business planning, reinsurance strategy and wider risk.

Communicate regularly with the key stakeholders at MRSL and Munich Re Group, including the INED Chair of R. Maintain, run, develop and parameterise the actuarial elements of the IM. Produce required reporting information. Liaise with Underwriting, Claims, Reinsurance, Pricing and Reserving, explaining outputs, purpose and inputs needed for the IM and getting buy-in to the finally selected model inputs. Produce information needed for model uses including: SCR, ORSA, PRA information, AoC, SBF, LCM, 1 in 30 AEPs, reserve ranges, risk distributions, reinsurance cost allocation, AFR information etc. This information should be to agreed time schedules (5 days in advance for R). Maintain model documentation, model change log and all relevant model outputs.

Participate fully in R. If resourcing increases, take ownership of and responsibility for the UVM, and expand its use to include other GSI entities, liaising with the key stakeholders including Mike Kerner. Peer review the best estimate reserves at least annually, to ensure reasonableness and consistency with IM assumptions.

Knowledge and Skills

• Lloyd’s capital processes and requirements
• Capital modelling experience with at least three years in a senior position
• Tyche experience
• Experience in managing three or more staff
• Experience of interacting with, and presenting to Board members
• University Degree and/or relevant professional qualification

Diversity, Equity 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. 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.

Learning and innovating today, striving for sustainable societies and business tomorrow. At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.

Benefits

• 25 days Annual Leave + bank holidays
• 10% Non-contributory Pension
• Eligibility for an Annual Bonus
• Private Medical + Dental Insurance
• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study