What are the responsibilities and job description for the Actuary Senior position at Munich Re?
Actuary Senior
Company
Munich Re America Services
Location
Princeton , United States
Actuary Senior
We're adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.
The Company
Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities.
As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.
The Opportunity
Future focused and always one step ahead
We are adding to our diverse team of experts and are looking to hire a Senior Actuary to support the Global Clients / North America (GC / NA) US Reserving team in FMR Corporate Reserving.
The responsibility of Corporate Reserving is to use quantitative and qualitative methods to perform and oversee the loss reserve analyses for Munich Re's property and casualty business in the US. This involves continuous monitoring of the reserve position, and the further development of actuarial methods, the underlying systems, and tools to support this. Additional responsibilities are the assessment of reserve uncertainty and reserve risk, as well as financial reporting on non-life technical provisions under IFRS17, Solvency II, US GAAP and Statutory standards.
As part of the GC / NA US Reserving team, your role is to act as a liaison between Corporate Reserving and a GC / NA US Business Unit team lead and give guidance to actuaries with similar tasks as well as review larger industry events, such as Asbestos and Environmental liabilities, and other Munich Re identified global events. In this highly visible role, you will collaborate closely with various stakeholders, e.g., Business Unit Reporting Unit Leads, Accounting, Claims and the CFO.
Responsibilities :
- Collaborate in a diverse team with various backgrounds and skills aiming to maximize the quality of Corporate Reserving's deliverables and the success of Munich Re Group
- Communicate and act as an interface between Corporate Reserving and the Global Reserving team, Business Unit Production teams, Accounting, and Claims staff locally and globally. Developing these interfaces into trusted relationships and aligning different interests in a complex organization
- Provide guidance and training for actuaries and analysts, while helping them formulate development opportunities
- Complete actuarial analyses which may include ultimate loss projections, monitoring of loss development, quantitative and qualitative portfolio analysis, and research projects. Lead projects / analyses requiring multiple resources including those who are not direct reports.
- Participate and create actuarial presentations and present results / topics to both actuarial and non-actuarial audiences, including management.
- Achieve an integral collaboration with assigned GC / NA businesses to ensure a deep understanding of the markets by reserving actuaries, ensuring full transparency of reserving insights for the business units and providing reserving perspectives to enable informed strategic business decisions
Successful candidates will possess the following experience, skills, and capabilities :
At Munich Re, we see Diversity, Equity and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work. We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day. We recruit and develop talent with a focus on providing our customers the most innovative products and services.
We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
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