Global Longevity Actuary in Vauxhall

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

About UK Life Branch:

The UK life market is one of the, if not 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.

About the role:

The Global Longevity Actuary supports Munich Re's international longevity expansion ambitions within the Global Longevity Development (“GLD”) team by contributing to market assessments, basis development and transaction support activities across global markets that are outside Munich Re's established longevity business. Working closely with the Head of Global Longevity Development, Global Longevity Development Strategy Lead, Global Longevity Development Pricing Lead and local Munich Re offices, the role takes ownership of defined analytical, technical and project activities, exercising actuarial judgement and providing constructive challenge across the GLD team. The role offers exposure to market development, pricing, basis development and transaction support activities, helping Munich Re identify, assess and develop emerging longevity opportunities globally.

Key Responsibilities:

• Contribute to delivery of Munich Re's international longevity market development strategy.
• Own defined elements of market assessments and opportunity evaluations across international longevity markets, making recommendations to senior members of the team.
• Develop market-testing assumptions and exploratory bases for emerging longevity opportunities, with oversight from the GLD Pricing Lead.
• Take responsibility for defined components of pricing analyses, transaction support and technical assessments.
• Develop, maintain and enhance pricing tools, analytical frameworks and supporting documentation for international markets.
• Prepare market-entry assessments, business cases and strategic recommendations.
• Maintain the international longevity opportunity pipeline and associated reporting, in support of the GLD Strategy Lead.
• Coordinate elements of client, broker and local-office engagement activity through preparation of presentations and analysis.
• Monitor and assess competitor activity, client developments and market developments relevant to international longevity opportunities.
• Review and challenge analysis produced by colleagues, providing constructive feedback and supporting the development of more junior team members.
• Contribute to knowledge sharing, research and development activities across the Longevity function.

General Duties and Tasks:

The Global Longevity Actuary works with the Head of GLD, GLD Strategy Lead and GLD Pricing Lead in delivering Munich Re's international longevity expansion strategy. The role contributes across market assessments, basis development, pricing support and transaction activities within both the Strategy and Pricing workstreams, as well as wider Longevity initiatives where required. The role is expected to take ownership of defined activities and deliver them with a high degree of independence, with oversight from the relevant GLD Lead or Head of GLD.

Competencies:

• Drives results: You consistently achieve results even under tough circumstances, with the organisation’s performance in the front of your mind.
• Business insight: You can apply your knowledge of the business and the market to advance your business’ and wider organisation’s goals.
• Collaboration: You identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion, whilst maintaining clarity and unity of direction.
• Client focus: You build and maintain strong client relationships (internal and external), listening to their needs and working with them to ensure value is created.
• Cultivates innovation: You create new and better ways for Munich Re to be successful.
• Courage: You are willing to challenge the status quo and address difficult issues.
• Persuades: You use clear and compelling arguments to gain the support, enthusiasm and commitment of others.

Key Skills & Experience:

• Essential: Experience in actuarial work within life insurance, pensions or reinsurance.
• Strong analytical and problem-solving skills, with the ability to exercise judgement and operate with a high degree of independence.
• Ability to communicate technical information clearly.
• Strong Excel and actuarial modelling skills.
• Proactive and collaborative working style.
• Interest in longevity, pensions de-risking and international market development.

Qualifications and Educational Requirements:

• Nearly or newly qualified actuary.
• Directly relevant actuarial experience within longevity, annuities, pensions or life reinsurance.

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.

About us:

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.