We are 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're adding to our diverse team of experts and are looking to hire a Senior Actuary to enrich the MR-AS Corporate Reserving Team.

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 includes continuous monitoring of the reserve position, and the further development of actuarial methods, the underlying systems, and tools. 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.

Responsibilities

In your role, you'll lead the actuarial analyses and closing for the business written by Next Insurance and consequently assumed into the MRAm pool, ensure smooth processes and manage the relationship with actuarial teams across Munich Re Group stakeholders.

YOUR JOB

• Collaborating 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.
• Communicating and acting as an interface in Corporate Reserving for Central Reserving (Group), FMR, NEXT Insurance and ERGO Group. Developing these interfaces into trusted relationships and aligning different interests in a complex organization.
• Complete actuarial analyses which may include ultimate loss projections, monitoring of loss development, quantitative and qualitative portfolio analysis, and research projects.
• Ensure quarterly and annual, internal as well as external closing and reporting (Statutory, US GAAP, Solvency II and IFRS17) processes for Next Insurance business work smoothly and are concluded with a very high quality.
• Achieve an integral collaboration with the NEXT and ERGO teams to ensure a deep understanding of the markets, ensuring consistent approaches and full transparency of reserving insights across the different stakeholders and providing reserving perspectives to enable informed strategic business decisions

Qualifications

• Bachelor's degree in economics, mathematics, actuarial science or a similar qualification with a strong quantitative focus; Masters, or MBA preferred
• ACAS or FCAS (or comparable credential) preferred
• Experience in non-life (re)insurance (applicable experience can include reserving, pricing, underwriting, risk management, accounting, reporting and/or controlling or similar disciplines)
• Excellent quantitative and analytical skills with emphasis on practical application
• Strong leadership and interpersonal skills. Ability to influence and negotiate with others and create acceptance for proposals.
• Strong verbal and written communication skills, including the ability to explain technical concepts to non-technical audiences
• Familiarity with IFRS17, Solvency II, US GAAP and Statutory standards
• Project management, process optimization and change management experience.
• Experience with insurance-related databases and data warehouses is of advantage

The Company is open to considering candidates in numerous locations, including Princeton and NYC. The salary range posted below applies to the Company's NYC location.

The base salary range anticipated for this position in NYC is $197,900 - $290,300 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).

The salary estimate displayed represents the typical salary range for candidates hired in this position in NYC. 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. Most candidates will start in the bottom half of the range.

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.