Senior Basis Development Actuary

About UK Life Branch

UK Life Branch operates from Munich as part of the Life 1 division of Munich Re.

The UK life market is highly competitive.

The branch focuses on protection, longevity, and reinsurance structuring and works closely with clients to provide strong financial backing and pricing solutions.

About the role

The role holder is responsible for leading the delivery of UKLB’s Basis Development for both Protection and Longevity lines of business.

The team reviews existing bases and Terms of Trade, supports proposition development through setting appropriate assumptions, and delivers the biometric element of proposition development.

Key Responsibilities

• Leading the delivery of individual Basis Development initiatives, including reviews of existing Terms of Trade for both Protection and Longevity as well as the development of new Pricing bases and the biometric elements of new propositions.
• Tasks include the initial scoping and project planning of individual initiatives, followed by managing the project to completion.
• Directing and checking the work of more junior team members. Aiding in their development/training with the aim to transfer knowledge and skills.
• Making best use of internal and external data sources to form proposals.

This includes analysing and spotting trends, using judgement where there is uncertainty and quantifying upside and downside risks.

• Liaise with stakeholders such as local Risk Management and Corporate Underwriting to get appropriate sign-off on proposals.
• Supporting biometric assumptions setting and ad hoc queries for the Longevity and Protection Pricing teams.
• Keep up to date with the latest developments in the market by attending seminars, closely following CMI releases, news and scientific articles and then ensuring these findings are communicated within UKLB.
• Identify improvements to the processes and tools used in Basis Development work.
• Work with the Head of Basis Development to promote a working culture that focuses on delivering high quality results in an efficient manner, aids in the development of team members and fosters a team spirit of open collaboration and mutual support.
• Input into discussions within the Basis Development team to help set the direction of the team, including non‑technical topics (e. g. people and culture).
• Competencies
• Strategic mindset (we think big)
• You look, plan and move into the future with clear intentions and purposeful actions, seeking regular feedback, that allows you to make decisions today that will lead the business towards its future commitments.
• Ensures accountability (we lead the ‘we’)
• You hold yourself and others accountable to take responsibility and meet commitments, creating a culture where people own their decisions and actions and appreciate how they contribute to the team/organisation commitments.
• Managing complexity (we grow with our clients)
• You make sense of complex and sometimes contradictory information to effectively solve problems, learning and sharing along the way.
• Sponsors work (we care and dare)
• You know when to lead and when to let others lead, providing direction and delegating to others, empowering and trusting them to achieve their commitments.
• Develops talent (we care and dare)
• You develop the team to meet their career ambitions, building capability at an individual and organisational level, preparing them for future opportunities.

You discuss feedback and development regularly and promote a diverse and inclusive workforce.

• Being resilient (we are clear and authentic)
• Setbacks are unavoidable; however, you recover quickly, seek feedback, learn and unlearn and move forward with courage and commitment.
• Key Skills & Experience
• Significant experience in setting biometric assumptions, including dealing with experience analyses and setting base and trend mortality/morbidity assumptions.
• Deep understanding of current Protection products as well as their pricing methodologies.
• Deep understanding of Longevity reinsurance pricing, including deferreds and marital assumptions.
• Pragmatic mindset and desire to find innovative solutions.
• Strong analytical skills and ability to make judgement calls where there is uncertainty.
• Experience with managing or providing leadership to other colleagues either through line management or via work projects.

Be able to provide feedback and support their development.

• Strong written/spoken communication with the ability to communicate complex technical concepts to different audiences.
• Confidence and diplomacy to challenge peers and manage upwards.
• Ability to build an understanding of internal and external client strategy and needs.
• Strong organisational and planning skills.
• Effective at dealing with stakeholders from a variety of technical backgrounds and levels of seniority, including senior management.

Qualifications and Educational Requirements

• Qualified actuary
• People Leader
• You are aware of your role (as a leader) in influencing your team structure and culture to promote principles of diversity and inclusion.
• You strive to continuously educate yourself on best practice for inclusive leadership.
• You demonstrate and role‑model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture.
• You support a culture in which high ethical conduct is recognised, valued and embodied by all.
• You treat everyone fairly and with respect.
• Thought Leader
• You are seen as an expert in your field and will be the ‘go to’ person for your area of specialism within Munich Re.

You will be seen as a role model/mentor to others – identifying opportunities to share your knowledge with others.

Regulatory & Conduct Requirements

In addition to the responsibilities set out above, the individual will also become responsible for 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, private medical insurance, and a 10% contributory pension.

We offer fully paid six‑month family leave for times when you need it the most.

EEO Statement

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.

• Application closing date: 31st July 2026
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