Actuarial Associate - Graduate in London

London, England, United KingdomCategory: Actuarial & Risk ManagementCompany: Munich ReTogether, we engage with everything we have and are, to help humankind act braver and better. About UK Life BranchWith the office in Munich, it forms the Life 1 division of Munich Re. 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. 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 Great Lakes Insurance SEAs specialty provider of primary insurance services in the UK, Great Lakes London Branch ("GLLB") is a substantial part of Great Lakes Insurance SE in Munich. Our interlocked business model is to seize opportunities closely connected to the reinsurance core business and innovation opportunities, in our role as an integral part of the Munich Re Group. Great Lakes Insurance SE operates from its headquarters in Munich, and via branch offices in UK, Ireland, Switzerland, Italy and Australia. Great Lakes Insurance UK Limited ("GLLS"), regulated by Prudential Regulation Authority and the Financial Conduct Authority, is a fully owned subsidiary of Great Lakes Insurance SE and acts as the preferred facilitator of agency insurance business in the UK in the post-Brexit world. From financial reporting to pricing risk, predictive analysis to digital innovation, Actuaries have a say. You will join one of our actuarial teams, either in the life insurance (Munich Re UK Life Branch), the general insurance (Munich Re Great Lakes) or the specialty insurance space (Munich Re Specialty Group). Your role will give you the opportunity to grow your technical skills and contribute to the team's performance. ResponsibilitiesAnalysis of data, including claim rates across different markets for use in pricing reinsurance products and updating our company's view of changing trends. Quote on re-insurance tenders to help our company achieve its financial goals, followed by working on the execution of deals won across different product lines. Help with the production of financial projections and liability valuations for internal profit and capital reporting. Develop relationships with our business developers and construct a meaningful branch-wide network of contacts. Collaborates (we lead the 'we') – you work together with others in your team, the department and wider business (where relevant) to meet shared commitments. Effective and Flexible Communication (we are clear and authentic) – you communicate clearly and appropriately with your audience. Inclusive Mindset – Demonstrated commitment to valuing diversity and contributing to an inclusive working and learning environment. Due to the numerical nature of the job, we will only consider applicants from STEM, Actuarial Science, Computer Science, Economics, or similar numerical subjects. BenefitsWe offer many benefits over and above a great compensation package, including assistance throughout your actuarial qualification. Financial benefitsGreat compensation packageAnnual target-based bonusPension contributionInsurance coverage (life and private medical)Leisure schemeMany other financial benefits including employee discount scheme across major retailers and vehicle scheme. Actuarial QualificationPayment for Institute and Faculty of Actuaries membership feesPayment for actuarial study material, tutorials and exam feesStudy leave policy for actuarial examsSupport through the actuarial examinations including Mentors, Mental Health First Aiders, Personal Development CoursesThought LeadersYou 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 RequirementsIn addition to the responsibilities set out above, the Actuarial Graduate Trainee role will also become responsible for: Ensure compliance with Munich Re's Code of Conduct and the FCA Conduct Rules. At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. We recognise diversity can bemulti-dimensional, intersectional, and complex, so we want to build a diverse workforce that includesa wide range of racial, ethnic, sexual, and gender identities; 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. You can request an adjustment by speaking to your Talent Acquisition contact.