Company
Munich Re
Location
Munich , Germany
Central Reserving (CR) uses quantitative and qualitative methods to perform and oversee the loss reserve analyses for Munich Re’s group-wide Non-Life business. This includes continuous monitoring of the reserve position as well as the further development of actuarial methods, underlying systems and tools. Additional responsibilities include the assessment and quantification of reserve uncertainty and reserve risk, as well as financial reporting on Non-Life technical provisions under IFRS17, Solvency II and local GAAP standards.
To complement our Global Oversight team in Central Reserving, we are looking for enthusiastic and motivated individuals who perform quantitative analyses on Munich Re’s loss reserves for the group-wide Non-Life business and translate the results into a reporting and business context. The insights from your work will provide guidance to the Global Reserving actuaries for their bottom-up reserve projections and will be used by the senior management as basis for decision-making. In your role, you will cope with the diverse and challenging reserving topics of a global reinsurer and get a broad overview of the Non-Life business of the Munich Re Group.
YOUR JOB
Collaborating with Global Reserving actuaries across the world to ensure adequate levels of reserves, consistent reserving practices, efficient and consistent reporting of reserving figures, share knowledge and foster collaborationTaking part in regular peer reserve reviews and performing ad-hoc actuarial analyses on various reserving topicsThe actuarial analyses include reserve valuations, reserve variability assessments, scenario testing and benchmarking as well as portfolio performance analysisContributing to the further development of methodologies, concepts and tools that are applied in the Global Oversight teamMonitoring and analysing reserving key figures for Munich Re’s entire Non-Life business including the preparation of the result communication to key stakeholdersIdentifying and quantifying relevant reserve risks, contributing to risk mitigation strategies and developing guidance to Global Reserving actuariesParticipating in the process to derive the basic loss reserve risk and premium risk for Munich Re’s internal model in close collaboration with the Integrated Risk Management teamPreparing communication and addressing information requirements on reserving topics for various internal and external stakeholders such as board committees, analysts and investors, rating agencies and auditors
YOUR PROFILE
University degree in mathematics or a similar qualification with a strong quantitative focusActuarial qualification (e.g. DAV, FIA, FCAS or equivalent) from an internationally recognized body started or completedAt least 2 years actuarial experience and expertise in loss estimation (e.g. in pricing, reserving, underwriting, risk management) in the Non-life businessProfound knowledge of current reserving, pricing or underwriting trends in the global insurance or reinsurance industry desiredStrong affinity to working with large data sets, experience with programming languages such as R and SQL as well as strong knowledge of Excel, PowerBI and PowerQueryStrategic thinking, excellent analytical and conceptual skills with strong problem recognition and solving skills as well as a solution oriented mindset A high degree of accuracy and discrete concerning confidential mattersAbility to explain technical concepts to non-technical audiencesStrong team player, enthusiasm to collaborate with other teams and departments, also on a global basisStrong written and verbal communication in English
Application Instructions
Please apply through our online portal and upload your CV, as well as your academic reference letters, including school certificates, graduation certificates and transcripts of record for any degrees. If applicable, please also submit reference letters from any previous employers or certificates from any other qualifications you may have. We recommend writing a cover letter to tell us more about why the position and Munich Re is of interest to you.
About us
As the world's leading reinsurance company with more than 11,000 employees at over 50 locations, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into a manageable risk we enable fundamental change. Join us working on topics today that will concern society tomorrow, whether that be climate change, major construction projects, medical risk assessment or even space travel.
Together we embrace a culture where multiskilled teams dare to think big. We create the new and the different for our clients and cultivate innovation.
Sounds like you? Push boundaries with us and be part of Munich Re.
Our employees are our greatest strength. That’s why we offer them a wide range of benefits. You can find some examples below.
Unlock your potential
Diversity, Equity & Inclusion: we embrace the power of differences and are convinced that diversity fosters innovation and resilience and enables us to act braver and better.Continuous Learning: we believe that continuous learning is a key differentiator and critical for building new skills and accelerating growth.Career Mobility: we actively support career mobility, and our strong global and regional presence offers a wealth of career growth opportunities for you.
Rewards & Recognition
Competitive salary: appropriate compensation for your high level of commitment.Retirement provision: state of the art in-house pension solutions.Work-life balance: promoting the compatibility of family and work in addition to overall work-life balance.Health management: focus on your physical and mental health far beyond legal requirements. Hybrid working: living the best of both worlds – we offer you a very flexible approach as well as the opportunity to work from abroad on an occasional basis.* Munich Re not only stands for fairness with regard to its clients; it is also an equal opportunities employer. Severely disabled candidates will also be prioritized, if equally qualified.
Münchener Rückversicherungs-Gesellschaft
Ryan Stewart
Human Resources
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