At a Glance
- Tasks: Support reserving processes with accurate analyses and models while collaborating with stakeholders.
- Company: Join Munich Re, a leading Primary Specialty Insurance provider with a supportive culture.
- Benefits: Competitive salary, diverse work environment, and opportunities for professional growth.
- Other info: Embrace diversity and innovation in a dynamic workplace focused on sustainability.
- Why this job: Make a real impact in the insurance industry while developing your actuarial skills.
- Qualifications: Mathematics or actuarial background with 2+ years of relevant experience.
The predicted salary is between 63000 - 77000 £ per year.
To support the Munich Re Syndicate’s reserving function by delivering accurate and timely reserve analyses and models, ensuring robust reserving processes, while acting as a trusted actuarial expert.
Responsibilities:
- Support the Best Estimate and Syndicate reserving processes by producing, reconciling, and analysing results on both gross and reinsurance bases;
- Prepare and present reserving results and relevant information for quarterly reserving meetings and the Reserving Sub Committee;
- Run and review allocation of reserving outputs to meet various internal and regulatory reporting requirements, which at times can be time pressured;
- Support team members in dealing with requests and queries from stakeholders across the business;
- Monitor the Syndicate's claims experience through actual versus expected analyses and document findings for review;
- Maintain and enhance actuarial reserving models, including annual updates of reserving parameters (gross and reinsurance), model development for new business classes, and support implementation of new reserving techniques;
- Assist as required with wider reserving tasks such as the annual reserve report, benchmarking exercises and deep-dive reserving investigations;
- Contribute to other Reporting and Reserving tasks as needed;
- Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
Knowledge and Skills:
- Mathematics or Actuarial Background
- 2+ years of experience, ideally within an actuarial reserving role;
- Highly developed mathematical / statistical knowledge;
- Willingness to further increase knowledge of Reserving and Reporting related matters and key market topics and develop technical and management skills;
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!
Diversity, Equity & Inclusion: At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. 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.
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.
Learn more about sustainability at Munich Re – choose your impact!
Actuarial Analyst, Reserving in London employer: Munich Re
Munich Re is an exceptional employer that fosters a collaborative and innovative work culture in the heart of London. With a strong emphasis on employee growth, we offer numerous opportunities for professional development and mentorship, ensuring that our team members thrive in their careers. Our commitment to cutting-edge technology and Agile practices not only enhances job satisfaction but also positions our employees at the forefront of the insurance industry.
