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As the world's leading reinsurance company with more than 40,000 employees in over 50 locations around the globe, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into manageable risk, we enable fundamental change. We recognize Diversity, Inclusion, and Belonging as a key priority with a culture that welcomes different thoughts and opinions. We dare to think big and are continuously innovating on behalf of our clients.

The Solvency II (SII) team reports to the Chief Actuary of Munich Re Life US and produces liabilities, capital and other financial metrics under SII reporting requirements. Our mission is to produce forward-looking, accurate and relevant financial information that stakeholders with unique interests use to make decisions.

Your job

You will report to the SII Reporting Team Lead. Your primary responsibility is to support the reporting of SII valuation results across all lines of business for Munich Re Life US.

Valuation and Financial Reporting:

• Prepare and analyze cash flow projections for SII technical provisions, value of new business (VNB), etc.
• Prepare and analyze SII attribution analysis (e.g., experience variances, assumption changes, etc.)
• Support SII reporting process through preparation of materials for local and Munich Re Group audience
• Annual analysis of new business internal rate of return (IRR) and return on risk adjusted capital (RORAC)
• Ensure quality and on-time completion of SII reporting deliverables

Development:

• Evaluate the impact of valuation assumptions and valuation model changes under SII
• Identify and implement enhancements to our SII systems and processes
• Engage with the department to support management needs, inforce management actions, deal review and ad-hoc requests from Central Life Reserving
• Collaborate with pricing units on new deals and to reconcile new business profitability metrics

Results Analysis:

• Provide deep analysis of SII results, and be able to raise important issues
• Perform analysis of results to evaluate profitability of our business

Reporting & Communication:

• Effective communication of results and knowledge transfer to various stakeholders with varying levels of knowledge of SII
• Build relationships across a broad range of teams across the US organization and beyond

Your Profile

• ASA or near ASA with expectation to work towards FSA
• 2+ years of actuarial experience
• Bachelor's degree in mathematics, quantitative discipline, actuarial science, or related field
• Life insurance product knowledge including product design, features, and risks
• Valuation or Financial Reporting experience preferred
• Knowledge about SII and SQL is preferred

About Us

BENEFITS:

• Comprehensive Medical Plans
• PTO and Family Leave
• Retirement Savings Plans
• Dental and Vision Plans
• Life and Disability insurance
• Employee Assistance Program
• Adoption Assistance
• Wellness Programs - Calm, WW, SoFI, Virgin Pulse
• Commuter Benefits
• FSA and HSA Plans
• Hospital Indemnity, Critical Illness and Accident Plans

For New York City based employees, the base salary range anticipated for this position is $104,440 to $139,254 plus an opportunity for an annual company bonus based upon a percentage of eligible pay.

The salary estimate displayed represents the typical salary range for candidates hired in this position. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role.

At Munich Re Life US, we see Diversity 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 aim 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. ]