The Director & Actuary, Group & Living Benefits Pricing serves as Lead Pricing Actuary for the Living Benefits department in pricing and managing Living Benefits inforce deals, including but not limited to Long-Term Care (LTC) and Individual Disability Income (IDI) business. This role serves as key point of contact for clients and management as key subject matter expert for Living Benefits products and treaties for inforce deals, including development of GGY AXIS models, setting of assumptions, and/or evaluation of cash flows from potential clients in order to price inforce deals.

Your Job

Living Benefits Inforce Deal Reinsurance Pricing

• Lead pricing analysis and prepare documentation for Living Benefits (LTC & IDI) quotes on existing blocks of business which we refer to as inforce deals in this job description.
• Work with management to understand and provide approval for assumptions, key risks and mitigants of complex inforce deals.
• Align pricing view with corporate profit goals and methods (VNB, ERC, IRR, RoRAC, profit margin, etc.).
• Provide product expertise and support to management, clients, and other departments including the financial reporting (valuation) team and risk management team.
• Work proficiently with data files and pricing software and/or lead and coach junior team members serving in this capacity.

Inforce Management

• Actively monitor our inforce treaties and work with internal and external stakeholders to yield optimal results given constraints.
• Meet with LTC clients to share insights on assumptions, trends, results, etc. and explore opportunities to improve the portfolio

Product Development and Research

• Lead or assist with product development initiatives and research projects as requested.

Your Profile

• FSA designation required
• Bachelor's degree in Finance, Economics, Risk Management, Mathematics, Accounting
• 8+ years Actuarial employment in the insurance industry
• Expertise in Long-Term Care required
• Technical actuarial pricing, assumption setting skills and product expertise.
• Moody's Axis experience preferred

Our 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

At Munich Re 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 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.

About Munich Re

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

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.

Please note that only candidates who are selected for interview will be contacted directly. We thank all candidates for their interest.