Jetzt als Structurer/Actuary (m/f/d)* bei Munich Re bewerben – Dein neuer Job in München

Company
Munich Re
Location
Munich , Germany

Munich Re Markets (“Markets”) within Munich Re is specialized in all types of strategic transactions for life insurance companies’ clients worldwide. This unit handles non-traditional business involving corporate finance, capital and risk management for life insurers through structured reinsurance, hedging, strategic risk transfer, and other transactions.

Markets has developed and/or reinsured numerous individualized savings products worldwide, and possesses the infrastructure to reinsure, administer, and manage risks for savings, retirement, and investment products. These reinsurance solutions typically involve combined and entangled financial markets and insurance risks while delivering a capital and/or risk management impact relevant to an insurer’s corporate finance management and planning.

MR Markets is seeking a Structurer / Actuary (m/f/d) to join the Structuring Actuarial Team.

The Munich Re Markets Structuring Actuarial Team is responsible for setting mortality and behavioral assumptions for the pricing of all LH6 transactions with a global focus. Examples of required assumptions are: 1. Mortality tables and trends, 2. Lapse assumptions, 3. Withdrawal assumptions, 4. Premium payment assumptions (persistency, top-ups, paid-up transitions, etc.), 5. Utilization timing and level (when people start guaranteed withdrawals and to what level versus the guarantee), 6. Annuitization incidence (when people opt for a guaranteed annuity), 7. and many other risks.

In order to standardize actuarial assumption setting and to increase throughput, an actuarial assumption setting infrastructure (database, GUI, R library, analysis tools) is currently built up by the Team.

Job Purpose:

The main responsibilities of this role will be to support the further development of the Team’s infrastructure and tool landscape as well as performing experience studies and assumption setting for quotations on retirement and savings products (pricing, not valuation).

Your Job

• Expand and improve our tool library (mostly in R, some in Excel/VBA) as well as the interactions with our Database (SQL Server)
• Analysing risk and profitability of life insurance and reinsurance products and in-force portfolios
• Specify data requirements needed for experience studies and assumption setting
• Perform experience analyses for incoming client transactions (i.e. prepare and clean the data, build data cubes, carry out data checks for validity and consistency, carry out Exploratory Data Analysis such as 1- and 2-way predictor analysis, correlation, and collinearity, Determine clustering and binning of variables, clear documentation, etc.)
• Research and understand the product / market / tax & regulatory environment as well as industry practice and relevant market experiences
• Preparation of client engagement material (presentations, memos, reports) under the direction and guidance of experienced team members
• Assisting in developing appropriate reinsurance solutions encompassing accounting, regulatory and economic risk transfer aspects
• Development of own professional understanding of client problem set and Munich Re solution set through interaction with team
• Possibility to become involved in cash-flow modelling (in particular, modelling the actuarial assumptions in the AON PathWise cash-flow modelling suite)

Your Profile

• High quality degree in mathematics, insurance / financial mathematics, statistics, computer science or business graduates with mathematical orientation
• Proficient use of MS Word, Excel, Access
• Proficient use of a statistical modeling software package or programming language (e.g. Matlab, R, Python etc.)
• Financial Mathematics and/or Data Science and/or Actuarial training
• Strong presentation skills
• Proactive, analytical and innovative in solving problems and flexibility in relation to a continuously and rapidly changing environment
• Ability to work within a team distributed over various locations
• Fluent English speaker (other languages also advantageous)
• Intrinsic motivation, high personal integrity, joy in meeting challenges

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.