London

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Senior Actuary

Life

Investments

Health

Property & Casualty

Reserving

Reporting

Reinsurance

Risk

Systems

Python

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Experience Analysis

Coding

Bulk Annuities

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Tyche

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Munich Re is a global reinsurance company based in Germany. Established in 1880, it is one of the world's largest reinsurers. Munich Re provides risk transfer and risk management solutions to insurance companies and clients worldwide. With a strong focus on technical expertise and innovation, it plays a vital role in supporting the insurance industry and managing complex risks.

Munich Re

Longevity ActuaryCompany: Munich ReLocation: London, United KingdomTogether, we engage with everything we have and are, to help humankind act braver and better.About UK Life Branch:With offices in London, it forms the Life 1 division of Munich Re. The UK life market is one of the most competitive life markets in the world. We understand that life insurers work in a dynamic market where medical progress, demographic trends, and changing lifestyles are constantly giving rise to new risk landscapes.This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition. So we need a smart strategy and structure in order to succeed.At UK & Ireland Life, we have three pillars to our business strategy: protection, longevity, and reinsurance structuring. All three are key to the success of our business, so it’s important to look at the big picture.In terms of clients, we trust them as experts of their business and provide them with the financial strength of the world’s largest reinsurer, global expertise, and sharp pricing so that they are both competitive and profitable.About the role:The Longevity Actuary has a key role in helping the Longevity team secure profitable new business by acting as a pricing and process expert. They will help ensure our approach to pricing longevity risk is market appropriate, and that our product offerings and processes are optimized.The Longevity Actuary will support the wider team across the range of actuarial work we complete, including checking new business quotes, proposition and basis work, and further developing our global centre of competence role.They will also support with system development to ensure we continue to drive efficiencies across our work.This is a great opportunity for a technically strong and ambitious individual to join a highly successful, friendly, and growing team in an exciting, challenging, and rewarding environment.Key Responsibilities:<ul><li>Support new business tenders both for UK and non-UK markets</li><li>Develop an in-depth understanding of our pricing approach and models used, such that they can support the wider team with their technical and modelling capabilities</li><li>Assess new data (internal and external) and modelling approaches such that the Longevity team’s processes remain competitive, market appropriate, and efficient across both new business and in-force activities</li><li>Support longevity basis development both for the UK and non-UK markets</li><li>Support UK proposition development</li><li>Support and oversee regular in-force actuarial tasks, working with the Head of In-Force to manage our portfolio</li><li>Support overall longevity strategy</li><li>Support Head of Longevity with appropriate ad-hoc tasks as required</li><li>Provide guidance, support, and knowledge sharing to longevity team members</li></ul>General Duties and Tasks:<ul><li>The Longevity Actuary is primarily responsible for supporting the Senior Longevity Actuary and Head of Longevity in delivering agreed strategy, including the development of profitable new business.</li></ul>Deal origination &amp; the pricing process (40%):<ul><li>Support the Senior Longevity Actuary in assessment of deal attractiveness</li><li>Lead or support new business quotes as part of quote teams</li><li>Support other quote teams in terms of best practice</li><li>Support executions on the actuarial side – contractual aspects, model reviews, etc.</li><li>Work alongside the Senior Longevity Actuary to further enhance our relationship with clients</li><li>Review and challenge pricing assumptions in tenders and wider basis related discussions</li><li>Proactively develop and train others on the pricing process and modelling approaches used</li></ul>Basis and proposition development (30%):<ul><li>Support the Senior Longevity Proposition and Basis Actuary, and International Longevity Actuary, in deriving international bases for specified markets</li><li>Support enhancements to the UK basis, proposition, and market offering</li><li>Ensure that Munich Re’s approach to pricing longevity business is appropriate, suggesting and embedding enhancements to basis processes as necessary</li></ul>General Longevity team (20%):<ul><li>Work in conjunction with colleagues to coordinate and facilitate various internal processes</li><li>Use desktop and other research to track developments in the market</li><li>Proactively develop talent through knowledge sharing on market developments and practices</li><li>Promote Longevity within the UK office and aid the Head of Longevity in the development of the UK’s Global Centre of Competence role including working with international clients and colleagues</li><li>Provide guidance and support for in-force monitoring activity within the Longevity team</li><li>Work with the Head of In-Force on in-force related projects as required to manage our existing portfolio</li><li>Work with colleagues to manage material operational risk failures, data/accounting issues, etc.</li><li>Support wider branch as required, plus any additional duties and responsibilities that may reasonably be expected to be undertaken in accordance with the role</li></ul>Longevity system &amp; process development (10%):<ul><li>Optimize current longevity pricing and basis systems and lead/support the development of new systems</li><li>Seek to improve efficiencies in current systems by increasing speed and automation</li><li>Recommend and investigate new tools and modelling techniques to support basis development and pricing analysis</li><li>Introduce R, or other programs/databases as necessary, to develop systems and processes that boost the team’s centre of competence role in non-UK markets</li></ul>Competencies:Drives results (we think big): You consistently achieve results even under tough circumstances, with the organisation’s performance in the front of your mind. You make good and timely decisions to keep things moving, using analysis, experience, and judgement.Business insight (we think big): You can apply your knowledge of the business and the market to advance your business’ and wider organisation’s goals.Collaboration (we lead the ‘we’): You identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion, whilst maintaining clarity and unity of direction.Client focus (we grow with our clients): You build and maintain strong client relationships (internal and external), listening to their needs and working with them to ensure value is created.Cultivates innovation (we grow with our clients): You create new and better ways for Munich Re to be successful, e.g., generating ideas, creating efficiencies, harnessing new technology, etc.Courage (we care and dare): You are willing to challenge the status quo and address difficult issues, saying what you believe needs to be said. You also continue to operate effectively even when things are uncertain and the way forward is unclear.Persuades (we are clear and authentic): You use clear and compelling arguments to gain the support, enthusiasm, and commitment of others, whilst ensuring you take time to actively listen to the diversity of views and opinions.Key Skills &amp; Experience:Essential:<ul><li>Relevant experience of the bulk annuity market and longevity swap pricing</li><li>Strong analytical and modelling skills, with the ability to work independently and apply judgement</li><li>Technically strong, with the ability to develop models in Excel, VBA, R, or other programming languages</li><li>Able to grasp new concepts and technical issues quickly, and communicate them effectively to others</li><li>A team player who will step up and take responsibility when required</li><li>Good people development and training skills</li><li>Willing to challenge the status quo</li><li>Strong written and oral communication skills</li></ul>Desirable:<ul><li>Good commercial awareness</li><li>Good understanding of DB de-risking offerings in the market</li><li>Longevity insurance/reinsurance experience</li><li>Contacts with key longevity players in the market</li><li>Good negotiation skills and ability to work under pressure</li></ul>Qualifications and Educational Requirements:<ul><li>Nearly or newly qualified actuary</li><li>Directly relevant actuarial experience of the bulk annuity/longevity swap market, DB pensions market, or longevity swap pricing</li></ul>Thought Leaders:You are seen as an expert in your field and will be the ‘go-to’ person for your area of specialism within Munich Re. You will be seen as a role model/mentor to others – identifying opportunities to share your knowledge with others.You will demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.You will treat your colleagues and sales and business partners fairly and with respect.Regulatory &amp; Conduct Requirements:Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.Benefits:You will be rewarded with a great compensation package, on-target bonus, 25 days annual leave with the option to purchase more, along with private medical insurance and employers' contributory pension of 10%. We are one of the few employers to offer fully paid 6 months family leave for times when you need it the most.About us:You will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision, and direction. We pave the way towards success and see failure as learning.You are going to experience that we care &amp; dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow, and coach future leaders.We communicate in a clear &amp; authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn.You will grow with your clients: Whatever our role, we support business in an efficient and effective way to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions.We lead the 'We': We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures, and experiences are valued and encouraged.Diversity, Equity &amp; Inclusion:At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better.We recognize diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs.Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process.

Reserving ActuaryCompany: Munich Re Specialty - Global MarketsLocation: London, United KingdomAt Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products, and industry leaders working in a supportive environment to achieve this.At the heart of our success is a strong culture where people are encouraged to be present, bold, and curious, allowing them to achieve their individual goals.Job DescriptionWe are looking for a Reserving Actuary to join our team on a full-time basis in our London City office. You will perform a broad range of actuarial work within the Reserving and Reporting function, particularly leading on the first-line reserving responsibilities for MRSG and liaising with the actuarial community working across global teams.Responsibilities<ul><li>Lead the development and implementation of reserving processes and systems for first-line reserving of MRSG business written on a number of legal entities within the Group.</li><li>Lead quarterly reserving processes for MRSG business by reconciling data sets, analysing and producing reserving results, including reviewing results produced by other members of the team.</li><li>Support the quarterly Best Estimate and Syndicate reserving processes for Syndicate business written via Lloyd’s platform, including leading reserving meetings and preparing information for the Reserving Committee.</li><li>Monitor claims experience using actual versus expected analysis, and document the results for review.</li><li>Carry out deep dives on key reserving uncertainties and reserving classes. Communicate results to key stakeholders.</li><li>Present results to a variety of stakeholders to provide insight and recommendations on reserving and performance-related results. This will include liaising with the actuarial community and working across global teams under GSI4.</li><li>Work collaboratively and proactively engage relevant stakeholders, e.g., support reporting teams on key drivers of reserving movements.</li><li>Build knowledge of actuarial reserving through on-the-job learning and structured training, and assist in the same for analysts.</li><li>Assist as required with wider reserving tasks such as the annual reserve report, benchmarking exercises, and deep-dive reserving investigations.</li><li>Contribute to other Reporting and Reserving tasks as needed.</li><li>Help drive forward good conduct for the business to deliver the best outcomes for customers/policyholders.</li></ul>Knowledge and Skills<ul><li>Mathematics or Actuarial Background</li><li>Good working knowledge of Excel and databases</li><li>Able to understand and explain key Actuarial processes</li></ul>Education and Professional Qualifications<ul><li>University Degree in a quantitative field such as Mathematics, Actuarial Science, or Statistics.</li><li>Qualified actuary (FIA or equivalent) or qualified by experience.</li></ul>If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!Diversity, Equity & InclusionAt Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognize diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs.Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process.Benefits<ul><li>25 days Annual Leave + Bank Holidays</li><li>10% Non-contributory Pension</li><li>Eligibility for an Annual Bonus</li><li>Private Medical + Dental Insurance</li><li>Critical illness insurance + Life Assurance + Permanent Health Insurance</li><li>Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)</li><li>Electric Vehicle Salary Sacrifice Scheme</li><li>Study & Continuing Professional Development Support</li><li>Hybrid Working + IT Home Set-up Support</li></ul>Apply now!

Senior Reporting & Reserving Actuary (12m FTC)Company: Munich Re Specialty - Global MarketsLocation: London, United KingdomAbout us:At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider. This is underpinned by an effective and adaptable strategy, superior products, and industry leaders working in a supportive environment to achieve this.At the heart of our success is a strong culture where people are encouraged to be present, bold, and curious, allowing them to achieve their individual goals.Senior Reporting Actuary (12m Fixed Term Contract)<ul><li>To manage, review and participate in actuarial reporting processes for Syndicate 457 for SII TPs, to both Lloyd’s and Munich, the other elements of Lloyd’s SII Reporting, IR35, and elements of Munich Reporting (e.g. PIRI template).</li><li>Communicate results and key issues to senior management.</li><li>Support and participate in the delivery of other reporting processes to ensure that work is produced on time and to a high standard of accuracy (e.g. IFRS17, Actuarial Day, QMB, US Trust Funds, etc.).</li></ul>Responsibilities:<ul><li>Participate in, review and manage the quarterly Solvency II calculations and delivery of Lloyd’s reporting processes, including QSR, ASR, TPD, etc. Manage the day-to-day workflow of actuarial reporting staff supporting you on these processes. Ensure that results are produced to a high standard with delivery in line with the Lloyd’s reporting timetable. Support and review the creation and presentation of key results to the FSC for challenge and sign-off.</li><li>Participate in, review and manage the reporting team in delivering other Lloyd’s reporting processes to a high standard, including QMB, QSR, RRQ and US Trust Funds.</li><li>Support elements of the actuarial delivery of Munich reporting processes, including SII TPs and the PIRI template. Ensure that results are produced in line with the Group requirements and reporting timetable.</li><li>Support the reporting manager in delivering other Munich reporting processes as needed, including quarterly reporting (Actuarial Day, Outliers, IBLC, AvE) and annual reporting.</li><li>Additionally, support the quarterly actuarial IFRS17 processes for Group reporting as needed, including reviewing data submissions to Group, reviewing outputs from the Central IFRS17 model and bridging results to other basis (e.g. Solvency II).</li><li>Support development of junior staff through on-the-job training and knowledge share activities.</li><li>Work in collaboration with finance on deliverables jointly owned by finance and actuarial to ensure consistency and transparency of results. Work closely to reconcile and compare results, as well as, investigate and resolve any discrepancies.</li><li>Monitor data quality for the reporting processes, including topics such as fast-close data, Munich reporting attributes and policy-level allocations. Maintain a log of reporting data quality issues and escalate key points to the business for discussion and resolution.</li><li>Assist with the production of actuarial reports such as the Actuarial Function Report and Annual Reserve Report.</li><li>Contribute to other actuarial reserving and reporting tasks as needed.</li><li>Help drive forward good conduct for the business to deliver the best outcomes for customers/policyholders.</li></ul>Knowledge and Skills:<ul><li>Proven extensive actuarial experience in the Lloyd’s Market or past work for Munich RE, ideally within an actuarial reporting role. A minimum of six years experience, and three years in Lloyd’s Reserving and Reporting.</li><li>Knowledge and understanding of the FCA regulations and Lloyd’s requirements.</li><li>In-depth knowledge and understanding of the underlying principles of insurance and reinsurance.</li><li>Highly developed mathematical/statistical knowledge.</li><li>Experience of managing multiple concurrent work strands within a time-pressured environment.</li><li>In-depth knowledge, understanding and practical experience in using a range of actuarial modelling techniques and applications for financial reporting.</li><li>Current Lloyd’s market knowledge, including Solvency II, UK GAAP and ideally some FRS17 experience.</li><li>Experience with managing junior members of an actuarial team.</li><li>Willingness to further increase knowledge of Reporting related matters and key market topics and develop technical and management skills.</li><li>Experience with or interest in automation of actuarial processes to meet accelerated timetables.</li><li>Willingness to mentor more junior members of the team.</li></ul>If you are excited about this role but your experience does not align perfectly with everything outlined, we encourage you to apply anyway. You might just be the candidate we are looking for!Diversity, Equity & Inclusion:At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognize diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process.Learning and innovating today, striving for sustainable societies and business tomorrow.At Munich Re Specialty – Global Markets, our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.Apply now!

Longevity ActuaryCompany: Munich ReLocation: London, United KingdomTogether, we engage with everything we have and are, to help humankind act braver and better.About UK Life Branch:With offices in London, it forms the Life 1 division of Munich Re. The UK life market is one of the most competitive life markets in the world. We understand that life insurers work in a dynamic market where medical progress, demographic trends, and changing lifestyles are constantly giving rise to new risk landscapes. This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition.At UK & Ireland Life, we have three pillars to our business strategy: protection, longevity, and reinsurance structuring. All three are key to the success of our business, so it’s important to look at the big picture. We trust our clients as experts of their business and provide them with the financial strength of the world’s largest reinsurer, global expertise, and sharp pricing to ensure they are both competitive and profitable.About the role:The Longevity Actuary plays a key role in helping the Longevity team secure profitable new business by acting as a pricing and process expert. They will help ensure our approach to pricing longevity risk is market appropriate and that our product offerings and processes are optimized.The Longevity Actuary will support the wider team across the range of actuarial work we complete, including checking new business quotes, proposition and basis work, and further developing our global centre of competence role. They will also support system development to ensure we continue to drive efficiencies across our work.This is a great opportunity for a technically strong and ambitious individual to join a highly successful, friendly, and growing team in an exciting, challenging, and rewarding environment.Key Responsibilities:<ul><li>Support new business tenders for both UK and non-UK markets</li><li>Develop an in-depth understanding of our pricing approach and models used to support the wider team with their technical and modelling capabilities</li><li>Assess new data (internal and external) and modelling approaches to keep the Longevity team’s processes competitive and efficient</li><li>Support longevity basis development for the UK and non-UK markets</li><li>Support UK proposition development</li><li>Oversee regular in-force actuarial tasks, working with the Head of In-Force to manage our portfolio</li><li>Support overall longevity strategy</li><li>Assist the Head of Longevity with appropriate ad-hoc tasks as required</li><li>Provide guidance and support to longevity team members</li></ul>General Duties and Tasks:<ul><li>The Longevity Actuary is primarily responsible for supporting the Senior Longevity Actuary and Head of Longevity in delivering agreed strategy, including the development of profitable new business.</li></ul>Deal origination &amp; the pricing process (40%):<ul><li>Support the Senior Longevity Actuary in assessing deal attractiveness</li><li>Lead or support new business quotes as part of quote teams</li><li>Support other quote teams in terms of best practice</li><li>Support executions on the actuarial side – contractual aspects, model reviews, etc.</li><li>Work alongside the Senior Longevity Actuary to enhance our relationship with clients</li><li>Review and challenge pricing assumptions in tenders and wider basis related discussions</li><li>Proactively develop and train others on the pricing process and modelling approaches used</li></ul>Basis and proposition development (30%):<ul><li>Support the Senior Longevity Proposition and Basis Actuary, and International Longevity Actuary, in deriving international bases for specified markets</li><li>Support enhancements to the UK basis, proposition, and market offering</li><li>Ensure that Munich Re’s approach to pricing longevity business is appropriate, suggesting and embedding enhancements to basis processes as necessary</li></ul>General Longevity team (20%):<ul><li>Coordinate and facilitate various internal processes with colleagues</li><li>Use research to track developments in the market</li><li>Proactively develop talent through knowledge sharing on market developments and practices</li><li>Promote Longevity within the UK office and aid the Head of Longevity in developing the UK’s Global Centre of Competence role</li><li>Provide guidance and support for in-force monitoring activity within the Longevity team</li><li>Work with the Head of In-Force on in-force related projects as required</li><li>Manage material operational risk failures, data/accounting issues, etc.</li><li>Support the wider branch as required, plus any additional duties that may reasonably be expected</li></ul>Longevity system &amp; process development (10%):<ul><li>Optimize current longevity pricing and basis systems and lead/support the development of new systems</li><li>Improve efficiencies in current systems by increasing speed and automation</li><li>Recommend and investigate new tools and modelling techniques to support basis development and pricing analysis</li><li>Introduce R or other programs/databases as necessary to develop systems and processes</li></ul>Competencies:Drives results (we think big): You consistently achieve results even under tough circumstances, with the organization’s performance in mind. You make timely decisions to keep things moving, using analysis, experience, and judgment.Business insight (we think big): You can apply your knowledge of the business and the market to advance your business’ and wider organization’s goals.Collaboration (we lead the ‘we’): You identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion while maintaining clarity and unity of direction.Client focus (we grow with our clients): You build and maintain strong client relationships, listening to their needs and working with them to ensure value is created.Cultivates innovation (we grow with our clients): You create new and better ways for Munich Re to be successful, generating ideas, creating efficiencies, and harnessing new technology.Courage (we care and dare): You are willing to challenge the status quo and address difficult issues, saying what you believe needs to be said.Persuades (we are clear and authentic): You use clear and compelling arguments to gain support, enthusiasm, and commitment from others.Key Skills &amp; Experience:Essential:<ul><li>Relevant experience in the bulk annuity market and longevity swap pricing</li><li>Strong analytical and modelling skills, with the ability to work independently</li><li>Technically strong, with the ability to develop models in Excel, VBA, R, or other programming languages</li><li>Able to grasp new concepts quickly and communicate them effectively</li><li>A team player who will take responsibility when required</li><li>Good people development and training skills</li><li>Willing to challenge the status quo</li><li>Strong written and oral communication skills</li></ul>Desirable:<ul><li>Good commercial awareness</li><li>Good understanding of DB de-risking offerings in the market</li><li>Longevity insurance/reinsurance experience</li><li>Contacts with key longevity players in the market</li><li>Good negotiation skills and ability to work under pressure</li></ul>Qualifications and Educational Requirements:<ul><li>Nearly or newly qualified actuary</li><li>Directly relevant actuarial experience in the bulk annuity/longevity swap market</li></ul>Thought Leaders:You are seen as an expert in your field and will be the ‘go-to’ person for your area of specialization within Munich Re. You will be a role model/mentor to others, identifying opportunities to share your knowledge.You will demonstrate inclusive behavior and encourage your colleagues to create an inclusive culture.You will treat your colleagues and business partners fairly and with respect.Regulatory &amp; Conduct Requirements:Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.Benefits:You will be rewarded with a great compensation package, on-target bonus, 25 days annual leave with the option to purchase more, along with private medical insurance and an employer's contributory pension of 10%. We offer fully paid 6 months family leave when needed.About us:You will work in an environment where we think big: Change and culture are continuously role-modeled. We create and articulate a compelling and ambitious shared purpose, vision, and direction.You will experience that we care &amp; dare: We are empathetic, knowing when to lead and when to let others lead.We communicate in a clear &amp; authentic way, interacting with a positive and humble spirit.You will grow with your clients: We support business efficiently and effectively to create value for our clients.We lead the ‘we’: We have a passion for winning and growing as a team, creating an inclusive environment where different thoughts and experiences are valued.Diversity, Equity &amp; Inclusion:At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation.If you are excited about this role but your experience does not align perfectly with everything outlined, we encourage you to apply anyway. You might just be the candidate we are looking for!All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process.

Pricing Actuary (Protection)Company: Munich ReLocation: London, United KingdomTogether, we engage with everything we have and are, to help humankind act braver and better.About UK Life Branch:With the office in London, it forms the Life 1 division of Munich Re. The UK life market is one of the most competitive life markets in the world. We understand that life insurers work in a dynamic market where medical progress, demographic trends, and changing lifestyles are constantly giving rise to new risk landscapes.This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition. So we need a smart strategy and structure in order to succeed.At UK & Ireland Life, we have three pillars to our business strategy: protection, longevity, and reinsurance structuring. All three are key to the success of our business, so it’s important to look at the big picture. In terms of clients, we trust them as experts in their business and provide them with the financial strength of the world’s largest reinsurer, global expertise, and sharp pricing so that they are both competitive and profitable.About the role:The role holder will be a member of the Protection Pricing team, supporting the Pricing Leads in the deliverables of the team. They will also assist the more junior members of the team, providing technical expertise and guidance and checking their work where appropriate.The team is responsible for delivery of Protection quotes, supporting with client queries and changes on existing open to new business treaties, monitoring performance of open to new business treaties, and supporting the Basis development team in the review of assumptions for both existing and new propositions.Where appropriate, the team will also support the commercial Protection team on other related activities, including new product and proposition development.Key Responsibilities:<ul><li>Be a key technical expert within the team across Pricing and Biometric elements, developing technical expertise and knowledge relevant to reinsurance pricing for Protection business.</li><li>Represent the team and communicate results to senior management and other departments.</li><li>Take responsibility for the delivery of accurate and timely work, checking other team members’ work and providing guidance to more junior members of the team.</li><li>Ensure the accurate use of data and production of experience analysis, setting of appropriate Pricing assumptions and supporting the negotiation of commercial terms.</li><li>Develop an understanding of the financial implications, across all appropriate metrics, of decisions made.</li><li>Develop relationships with the Protection department and construct an important branch-wide network of contacts.</li><li>Support the training and development of more junior members of the Pricing team, providing feedback where appropriate.</li><li>Contribute to the team’s ongoing drive to ensure we are the most efficient we can be by proposing and supporting improvements to Pricing tools and processes.</li><li>Support the development and review of the Protection basis and assumptions.</li><li>Where required, provide support to the development of new Protection propositions.</li><li>Input into team discussions on non-technical topics and show an interest in branch-wide initiatives.</li><li>Develop an understanding of the Protection market.</li></ul>Competencies:Drives results (we think big): you consistently achieve results even under tough circumstances, with the organisation’s performance in the front of your mind. You make good and timely decisions to keep things moving, using analysis, experience, and judgement.Business insight (we think big): you can apply your knowledge of the business and the market to advance your business’ and wider organisation’s goals.Collaboration (we lead the ‘we’): you identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion, whilst maintaining clarity and unity of direction.Client focus (we grow with our clients): you build and maintain strong client relationships, listening to their needs and working with them to ensure value is created.Cultivates innovation (we grow with our clients): you create new and better ways for Munich Re to be successful, generating ideas, creating efficiencies, and harnessing new technology.Courage (we care and dare): you are willing to challenge the status quo and address difficult issues, saying what you believe needs to be said.Persuades (we are clear and authentic): you use clear and compelling arguments to gain the support, enthusiasm, and commitment of others, whilst ensuring you take time to actively listen to the diversity of views and opinions.Key Skills & Experience:<ul><li>Relevant knowledge or experience of the UK life insurance market.</li><li>Knowledge of Pricing processes, including experience analysis production/analysis, assumptions setting, and modelling methodology.</li><li>Ability to grasp new concepts and technical issues quickly.</li><li>Strong analytical skills and ability to make judgement calls where there is uncertainty.</li><li>Ability to communicate technical concepts effectively to colleagues from varying levels of knowledge.</li><li>Confidence and diplomacy to challenge peers and manage upwards.</li><li>Effective at dealing with stakeholders from a variety of technical backgrounds and levels of seniority.</li><li>Strong computer literacy, particularly in Microsoft Excel & Word skills, but also experience with R, Python, Basic VBA, or similar programming.</li></ul>Qualifications and Educational Requirements:<ul><li>Newly or nearly qualified Actuary</li></ul>Thought Leader:You are seen as an expert in your field and will be the ‘go to’ person for your area of specialism within Munich Re. You will be seen as a role model/mentor to others, identifying opportunities to share your knowledge.You will demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture.You will treat your colleagues and business partners fairly and with respect.Regulatory & Conduct Requirements:In addition to the responsibilities set out above, the individual will also become responsible for ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.Benefits:You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more, along with private medical insurance and employers' contributory pension of 10%.We are one of the few employers to offer fully paid 6 months family leave for times when you need it the most.At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better.If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process.Apply now!

Capital Actuary Analyst (6m FTC)Company: Munich Re Specialty - Global MarketsLocation: London, United KingdomAt Munich Re Specialty Group (MRSG), individuality and intellectual curiosity are key drivers for our success and innovation. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge.We are committed to building a strong and inclusive culture where everyone is welcomed and valued for their own expression of self-identity.About usMRSG is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance.As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Singapore, Labuan, and Dubai.Our group of companies provide solutions covering Casualty, Marine & Cargo, Aerospace, Cyber, Political Violence, Trade Credit, Property, Contingency, and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create, and build – to enable people and businesses to thrive.Role OverviewProvision of actuarial capital support to the Syndicate, while developing modelling and actuarial skills. In particular, this includes:<ul><li>Supporting the provision of accurate and timely SCR and capital related figures.</li><li>Maintaining the Internal Model (IM).</li><li>Checking and validating the IM and associated changes.</li><li>Assisting with parameterisation and validation of the IM and associated documentation, including data analysis and cleansing, updating documentation on model changes, and developing understanding of the internal model.</li><li>Populating Lloyds required data.</li></ul>The Role<ul><li>Develop a deep understanding of capital modelling, its regulations, and importance to the Syndicate.</li><li>Further develop Tyche skills and code increasingly complex model changes in the IM.</li><li>Develop current knowledge and understanding of the IM.</li><li>Provide suggestions on possible future changes to the IM, including identifying its requirements, advantages, and disadvantages.</li><li>Data analysis to support the inputs of the IM, including data checking, review, and distributional fitting.</li><li>Support the work of the capital modelling team, including running the model, updating inputs, providing outputs, and documentation.</li><li>Use and suggest updates to supporting documentation, particularly for processes.</li><li>Carry out validation analyses as needed, assist with resolution of validation issues, and prepare primary validation report for the Director of Risk & Compliance.</li><li>Undertake actuarial examinations to qualify as an actuary.</li><li>Develop basic (level 1) knowledge and understanding of Lloyd’s rules and regulations.</li><li>Assist where required to support the wider Actuarial Function.</li><li>Help drive forward good conduct for the business to deliver the best outcomes for customers and policyholders.</li></ul>What we are looking for<ul><li>Practical experience in a General Insurer or preferably a Lloyd’s Syndicate.</li><li>Good numerate degree.</li><li>Good IT skills (minimum of Excel, preferably SQL and some programming experience in Tyche desirable).</li><li>Intermediate knowledge and understanding of:
<ul><li>Underlying principles of Reinsurance and operation of reinsurance programmes.</li><li>Capital Modelling.</li><li>Underlying principles of Insurance.</li><li>Solvency II reporting requirements and basis of calculations.</li><li>Actuarial techniques.</li><li>Capital Modelling process, coding, and the IM.</li></ul></li><li>Developing detailed knowledge of actuarial methods and techniques, and the ability to apply them in practice, making reasoned judgements within a business environment.</li><li>Good working knowledge of statistical methods.</li><li>Desire to develop and maintain current market knowledge on practices and regulation.</li><li>Willingness to continue to develop knowledge of any related issues.</li><li>Ability to work relatively independently, while understanding limitations and when to ask for advice.</li><li>Capital Actuarial Experience is desirable, ideally in a GI setting, but not essential.</li><li>Some actuarial exam progress (though not essential).</li></ul>Your career with usAt MRSG, you’ll find the flexibility, development, and support you need to excel in your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance.Diversity & InclusionCreating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We seek to provide a fair and supportive work environment that offers learning and development opportunities for all.Working together, we are an employer of choice by building the workforce for today and the future.Push Boundaries. With us. | Munich Re

Financial Reporting ActuaryCompany: Munich ReLocation: London, United KingdomTogether, we engage with everything we have and are, to help humankind act braver and better.About UK Life Branch:With the office in London, it forms the Life 1 division of Munich Re. The UK life market is one of the most competitive life markets in the world. We understand that life insurers work in a dynamic market where medical progress, demographic trends, and changing lifestyles are constantly giving rise to new risk landscapes.This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition. So we need a smart strategy and structure in order to succeed.At UK & Ireland Life, we have three pillars to our business strategy: protection, longevity, and reinsurance structuring. All three are key to the success of our business.Job Purpose:We are seeking high-calibre individuals with relevant experience to be part of the UK Financial Reporting team. Applicants should have a numerical background and be qualified actuaries. The role is flexible to the level of experience of the successful candidate.The team focuses on meeting the financial reporting requirements of the branch. The job holder is responsible for significant contributions to the delivery of Solvency II and IFRS reporting.Key Responsibilities:<ul><li>Take responsibility for the production and analysis of financial projections, liability valuations, IFRS and Solvency II calculations across business lines in the context of planned ambitious business growth.</li><li>Assist in the testing and implementation of valuation systems and provide guidance to team members.</li><li>Draft written reports and documentation for results and methods employed.</li></ul>General Duties and Tasks:<ul><li>Develop technical knowledge and expertise relevant to insurance reporting and accounting.</li><li>Develop ability to represent team and communicate results to senior management and other departments.</li><li>Contribute ideas and support to positive development of Financial Reporting.</li><li>Work with other departments within UKLB to ensure that inputs (including data and assumptions) to Financial Reporting are appropriate and reliable.</li><li>Develop a sound commercial awareness of our business.</li><li>Work successfully with the team across levels of seniority and train more junior team members.</li></ul>Plus any additional duties and responsibilities that may reasonably be expected to be undertaken in accordance with the role.Key Skills and Experience:Essential:<ul><li>5+ years of relevant experience within the UK life insurance market.</li><li>Computer literacy, particularly in Microsoft Excel and VBA.</li><li>Experience of life insurance valuation and financial reporting.</li></ul>Desirable:<ul><li>Experience of life reinsurance.</li><li>Basic knowledge of IFRS, SII, and other relevant regulations.</li><li>Proficient use of AXIS or other cashflow models and Python/R.</li></ul>Qualifications and Requirements:Qualified actuary with in-depth understanding of actuarial practices.Personal Attributes:<ul><li>Strong numerical and reasoning skills.</li><li>Good verbal and written communication skills, necessary for presentation and discussion of results and report production.</li><li>Ability to work independently and as part of a team.</li><li>Effective management of own workload, including proposing and meeting realistic work deadlines.</li><li>Taking initiative and employing a creative and proactive approach to solving problems and learning.</li></ul>Thought Leader:You are seen as an expert in your field and will be the ‘go to’ person for your area of specialism within Munich Re. You will be seen as a role model/mentor to others – identifying opportunities to share your knowledge with others.Regulatory & Conduct Requirements:In addition to the responsibilities set out above, the individual will also become responsible for ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.Benefits:You will be rewarded with a great compensation package, on-target bonus, 25 days annual leave with the option to purchase more, along with private medical insurance and employers' contributory pension of 10%.We are one of the few employers to offer fully paid 6 months family leave for times when you need it the most.If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process.

Actuarial Transformation AnalystCompany: Munich Re Specialty - Global MarketsLocation: London, United KingdomAt Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products, and industry leaders working in a supportive environment.At the heart of our success is a strong culture where people are encouraged to be present, bold, and curious, allowing them to achieve their individual goals.Role: We are currently looking for a Transformation Analyst to be based in London on a full-time basis, reporting into the Transformation Manager.As part of the Finance and Actuarial transformation team, you will support the change ambitions of Munich Re Specialty – Global Markets. You will be responsible for leading projects that impact all parts of actuarial.You will work closely with the actuarial, finance, IT, and change colleagues on a variety of actuarial-focused projects across capital, reserving, and pricing.Using your actuarial experience, you will ensure the delivery of all parts of the project lifecycle from drafting business requirements, designing business processes, reviewing deliverables, managing testing processes, and rolling out and supporting new processes and systems.Ability to adapt to different sizes and types of projects will be essential as you help our partners and internal team members navigate their way through all elements of new processes and ways of working.Responsibilities:<ul><li>Working with stakeholders to develop business cases for initiatives</li><li>Capture, define, prioritize, document, challenge, and explain business requirements based on project objectives and outcomes</li><li>Document and review existing processes and tools. Provide feedback on pain points and proposals for improvement.</li><li>Developing business processes for handing over to BAU teams, including appropriate controls</li><li>Contribute to project planning using both waterfall and agile methods as appropriate</li><li>Review and sign off IT specifications</li><li>Develop and execute testing approaches for assigned projects</li><li>Using relationships across the business to identify areas to improve processes and align approaches across teams</li><li>Proactively support wider change initiatives</li><li>Comply with the MRS-GM data strategy</li><li>Help drive forward good conduct for the business to deliver the best outcomes for customers/policyholders.</li></ul>Knowledge and Skills:<ul><li>Experience in leading transformation projects</li><li>Excellent stakeholder management across all parts of the business – BAU teams up to C-suite</li><li>Good communication, facilitation, presentation, and negotiation skills</li><li>Strong technical knowledge of actuarial techniques, financial reporting, and/or insurance pricing</li><li>Ability to build and sustain strong working relationships with a variety of internal and external customers</li><li>Understanding of wider business goals and how the finance and actuarial teams support this</li><li>Knowledge of insurance policy administration, policy lifecycles, and workflows</li><li>Knowledge of the insurance market and how ecosystems are structured within it</li><li>Ability to work independently and take ownership for delivery of requirements</li><li>Demonstrable ability in identification of pain points and development of solutions in an actuarial function</li><li>Experience in writing and reviewing business requirements, testing approaches, and process documentation</li><li>University Degree and/or relevant professional qualification</li><li>Qualified actuary with at least 5 years post-qualification experience</li></ul>Desirable:<ul><li>Knowledge of Lloyd’s market practices including actuarial and financial deliverables</li></ul>If you are excited about this role but your experience does not align perfectly with everything outlined, we encourage you to apply anyway. You might just be the candidate we are looking for!Benefits:<ul><li>25 days Annual Leave + bank holidays</li><li>10% Non-contributory Pension</li><li>Eligibility for an Annual Bonus</li><li>Private Medical + Dental Insurance</li><li>Critical illness insurance + Life Assurance + Permanent Health Insurance</li><li>Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)</li><li>Electric Vehicle Salary Sacrifice Scheme</li><li>Study & continuing Professional Development Support</li><li>Hybrid Working + IT Home Set-up Support</li></ul>Apply now!

Pricing Actuary (Protection)Company: Munich ReLocation: London, United KingdomTogether, we engage with everything we have and are, to help humankind act braver and better.About UK Life Branch:The UK life market is one of the most competitive life markets in the world. Life insurers work in a dynamic market where medical progress, demographic trends, and changing lifestyles are constantly giving rise to new risk landscapes. This situation is made even more challenging by changing laws and regulations and ever tougher competition.At UK & Ireland Life, we have three pillars to our business strategy: protection, longevity, and reinsurance structuring. All three are key to the success of our business.About the role:The role holder will be a member of the Protection Pricing team, supporting the Pricing Leads in the deliverables of the team. They will assist junior members of the team, providing technical expertise and guidance.The team is responsible for the delivery of Protection quotes, supporting client queries, monitoring performance of treaties, and supporting the Basis development team in the review of assumptions.Key Responsibilities:<ul><li>Be a key technical expert within the team across Pricing and Biometric elements.</li><li>Represent the team and communicate results to senior management and other departments.</li><li>Take responsibility for the delivery of accurate and timely work.</li><li>Check work produced by the team for quotes and projects, ensuring accurate use of data.</li><li>Develop an understanding of the financial implications of decisions made.</li><li>Develop relationships with the Protection department and construct a branch-wide network of contacts.</li><li>Support the training and development of junior members of the Pricing team.</li><li>Contribute to the team’s drive for efficiency by proposing improvements to Pricing tools and processes.</li><li>Support the development and review of the Protection basis and assumptions.</li><li>Provide support to the development of new Protection propositions.</li><li>Input into team discussions on non-technical topics.</li><li>Develop an understanding of the Protection market.</li></ul>Competencies:Drives results: You consistently achieve results even under tough circumstances.Business insight: You can apply your knowledge of the business and the market to advance goals.Collaboration: You identify opportunities and bring the right people together to work on a common goal.Client focus: You build and maintain strong client relationships, listening to their needs.Cultivates innovation: You create new and better ways for Munich Re to be successful.Courage: You are willing to challenge the status quo and address difficult issues.Persuades: You use clear and compelling arguments to gain support and commitment from others.Key Skills & Experience:<ul><li>Relevant knowledge or experience of the UK life insurance market.</li><li>Knowledge of Pricing processes, including experience analysis production and assumptions setting.</li><li>Ability to grasp new concepts and technical issues quickly.</li><li>Strong analytical skills and ability to make judgement calls.</li><li>Ability to communicate technical concepts effectively.</li><li>Confidence and diplomacy to challenge peers and manage upwards.</li><li>Effective at dealing with stakeholders from various technical backgrounds.</li><li>Strong computer literacy, particularly in Microsoft Excel & Word, with experience in R, Python, or similar programming.</li></ul>Qualifications and Educational Requirements:<ul><li>Newly or nearly qualified Actuary.</li></ul>Thought Leader:You are seen as an expert in your field and will be the ‘go to’ person for your area of specialism within Munich Re.You will demonstrate and role model inclusive behaviour and encourage your colleagues to create an inclusive culture.Regulatory & Conduct Requirements:The individual will also be responsible for ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.Benefits:You will be rewarded with a great compensation package, on-target bonus, 25 days annual leave, private medical insurance, and an employer's contributory pension of 10%.We offer fully paid 6 months family leave for times when you need it the most.At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation.If you are excited about this role but your experience does not align perfectly with everything outlined, we encourage you to apply anyway.All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process.

Pricing ActuaryCompany: Munich Re SyndicateLocation: London, United KingdomAt Munich Re Specialty Group (MRSG), individuality and intellectual curiosity is a key driver for our success and innovation. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge. We know there is always more work to be done, but we’re committed to building a strong and inclusive culture where everyone is welcomed and valued for their “own expression of self-identity”.About us: MRSG is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance. As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Singapore, Labuan, and Dubai.Our group of companies provide solutions covering Casualty, Marine & Cargo, Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency, and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable people and businesses to thrive.Pricing Actuary Responsibilities:<ul><li>Work independently on individual pricing assessments of large risks and binder reviews, including clear communication of results to the underwriters</li><li>Support pricing team in achieving the high standards as indicated within the Lloyd’s oversight framework, including technical rating of all risks and regular monitoring of Delegated underwriting contracts</li><li>Construction, review, and maintenance of pricing models for varied classes of business</li><li>Analysis of pricing model data including parameter validations</li><li>Support for syndicate business planning process</li><li>Production and review of pricing management information</li><li>New business initiative analyses and independent reviews</li><li>Investigation and utilization of alternative data sources for parameterization of pricing models</li><li>Support underwriting within depth portfolio analyses and performance management</li><li>Ensure all advice offered is in line with TAS requirements</li><li>Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders</li><li>Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC), ExCo and Board for Conduct Risk</li></ul>Knowledge and Skills:<ul><li>Qualified actuary by exams OR extensive experience</li><li>Experience with Cyber insurance as an advantage</li><li>Highly developed mathematical / statistical knowledge in (re)insurance</li><li>Effective communication skills and ability to translate complex models into business terms</li><li>Strong business acumen and interpersonal skills</li><li>Team player and willingness to train junior members in the team</li><li>Detailed knowledge of actuarial methods and techniques, and the ability to apply them in practice, making reasoned judgments within a business environment</li><li>Knowledge of a range of modeling techniques and applications for pricing</li><li>Willingness to continue to develop knowledge of any pricing related matters</li><li>Knowledge of FCA regulations and understanding of the underlying principles of insurance and reinsurance</li></ul>Your career with us: At MRSG, you’ll find the flexibility, development, and support you need to excel in your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance, and more!Diversity & Inclusion: Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.Working together, we are an employer of choice by building the workforce for today and the future. We make it happen. Together.Push Boundaries. With us. | Munich ReApply now! Apply for this Job!

Pricing Actuary, PropertyCompany: Munich Re SyndicateLocation: London, United KingdomAt Munich Re Specialty Group (MRSG), individuality and intellectual curiosity is a key driver for our success and innovation. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge. We know there is always more work to be done, but we’re committed to building a strong and inclusive culture where everyone is welcomed and valued for their “own expression of self-identity”.About usMRSG is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance.As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Singapore, Labuan, and Dubai.Our group of companies provide solutions covering Casualty, Marine & Cargo, Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency, and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable people and businesses to thrive.Property Pricing ActuaryWe are looking to employ a Property Pricing Actuary to be based in London, Manchester, or Birmingham and to work with us on a Full-Time basis.This position will provision of actuarial pricing support to MRSL.The Role<ul><li>Assist the Property Pricing Manager in providing effective, efficient, and reliable Pricing support to the underwriting division, ensuring all pricing related regulations and requirements are adhered to, to assist the business in achieving a profitable and successful operating model</li><li>Support pricing team in achieving the high standards as indicated within the Lloyd’s oversight framework, including technical rating of all risks and regular monitoring of Delegated underwriting contracts</li><li>Support and mentor more junior team members, including review of their work</li><li>Work independently on individual pricing assessments of large or unique risks, or monitoring of Delegated underwriting contracts, including clear communication of results to the underwriters</li><li>Build, review, maintain and enhance pricing models, striving to achieve the optimum balance between rating integrity and market suitability while considering data availability and user capabilities</li><li>Assist in development work – for example to streamline operational processes relating to data management</li><li>Support for syndicate business planning process</li><li>New business initiative analyses and independent reviews</li><li>Ensure all advice offered is in line with TAS requirements</li><li>Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.</li></ul>What we are looking for<ul><li>4+ years of pricing experience in the London Market</li><li>Knowledge and understanding of FCA regulations and Lloyd’s standards</li><li>Knowledge and understanding of the underlying principles of insurance and reinsurance</li><li>Highly developed mathematical / statistical knowledge</li><li>Detailed knowledge of actuarial methods and techniques, and the ability to apply them in practice, making reasoned judgments within a business environment</li><li>Current Lloyd’s market knowledge</li><li>Knowledge and understanding of the dynamics and rating considerations for Property.</li><li>Experience with mentoring junior members of an actuarial team.</li><li>Willingness to continue to develop knowledge of any pricing related matters.</li></ul>Qualifications<ul><li>University degree in Mathematics, Actuarial Science, Statistics, Economics, or similar discipline.</li><li>Qualification as a fellow of the Institute and Faculty of Actuaries or equivalent international body and / or relevant work experience (4+ years) in a dedicated actuarial role.</li></ul>Your career with usAt MRSG, you’ll find the flexibility, development, and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance, and more!Diversity & InclusionCreating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.Working together, we are an employer of choice by building the workforce for today and the future. We make it happen. Together.Push Boundaries. With us. | Munich ReApply for this Job!

Pricing ActuaryCompany: Munich Re ServicesLocation: London, United KingdomJob Purpose:<ul><li>We are seeking high calibre individuals with relevant experience to sit within the UK Pricing team. Applicants should be high potential actuaries with the role being flexible to the level of experience of the successful candidate.</li><li>This an opportunity to be part of a Pricing team which is looking to support the growth ambitions of the UK Life Branch. The Pricing team is responsible for Longevity, Protection and Structured reinsurance pricing, negotiating commercial terms both internally and with clients, as well as basis development work. Therefore the successful candidate should be open to and has the opportunity to get exposure to all business lines.</li><li>Given the range of work the team carries out we operate in a flexible, collaborative way and encourage a supportive environment so that people have the opportunity to develop.</li><li>We are looking for individuals who are technical experts in at least one of our core lines of business, namely Protection, Structured Reinsurance and Longevity. Relevant experience in the pricing of deals is desirable but not essential.</li></ul>Key Responsibilities:<ul><li>Play a key role in the delivery of quotes across all lines of business</li><li>Be a key technical expert and contact point within the team across at least one of protection, structured reinsurance, longevity, modelling and basis development</li><li>Propose and support commercial negotiations both internally with key stakeholders and externally with clients</li><li>Contribute to the team’s on-going drive to improve processes to ensure we are the most efficient and competitive we can be</li><li>Develop strong client-focused relationships with our business developers and construct an important branch wide network of contacts</li><li>Be responsible for delivering accurate and timely work as part of a team working together towards tight deadlines</li></ul>General Duties and Tasks:<ul><li>Derive best estimate bases for protection and longevity quotations</li><li>Check and peer review other team members’ work depending on the level of experience</li><li>Provide guidance to more junior members of the team</li><li>Provide technical input to the development of protection products, longevity proposition and structured finance solutions</li><li>Develop and maintain pricing tools</li><li>Develop technical knowledge and expertise relevant to reinsurance pricing.</li><li>Develop the ability to represent the team and communicate results to senior management and other departments.</li><li>Develop a sound commercial awareness of our business.</li><li>Work successfully with the team and with others in the branch</li></ul>Key Skills and Experience:<ul><li>Significant and relevant experience in the UK insurance market, preferably in reinsurance and preferably on the pricing side</li><li>Confidence and diplomacy to challenge peers and manage upwards</li><li>Effectively dealing with stakeholders from a variety of technical backgrounds and levels of seniority</li><li>Ability to build an understanding of internal and external client strategy and needs</li><li>Ability to grasp new concepts and technical issues quickly, and communicate them effectively to colleagues</li></ul>Qualifications and Requirements:<ul><li>University graduate or equivalent</li><li>Qualified Actuary</li></ul>Benefits:You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%About us:You will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learningYou are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leadersWe communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearnYou will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutionsWe lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouragedMunich Re is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all our employeesApply now!

UKLB is seeking an Actuary with an interest in Pricing to join our team. The successful candidate will work across all UKLB product lines, including protection, structured finance, and longevity. Proven experience in pricing is desirable but not vital to the role.The role involves pricing new deals, negotiating commercial terms both internally and with clients, supporting basis development work, and product proposition across all product lines. This role provides the opportunity to work with all Business Development Teams across UKLB, including Exco members.Offer:<ul><li>Assist with the production of pricing quotes and basis development work across all lines of business.</li><li>Draft written reports and documentation for results and methods employed.</li><li>Support other team members and be responsible for delivering accurate and timely work as part of a team working together towards targets.</li><li>Assist in the production of key metrics and analysis to support commercial negotiations both internally and externally.</li><li>Develop strong client-focused relationships with our business developers and construct an important branch wide network of contacts.</li><li>Contribute to the team’s on-going drive to improve processes to ensure we are the most efficient and competitive we can be.</li><li>The role may include line management responsibility for student actuaries.</li></ul>Profile:<ul><li>Strong analytical and numerical skills with a willingness to offer judgement calls</li><li>Strong digital literacy, particularly in Microsoft Excel & Word skills. Programming skills for R, Basic VBA or similar programming is desirable</li><li>Experience in the UK insurance market, preferably on the pricing side</li><li>A great teammate who will step up and take ownership when required</li><li>Ability to work on own initiative</li><li>Good organisational and planning skills with the ability to think laterally as well as logically</li><li>Confidence and diplomacy to challenge peers and manage upwards</li><li>Ability to build an understanding of internal and external client strategy and needs</li><li>Ability to grasp new concepts and technical issues quickly, and communicate them effectively to colleagues</li></ul>Qualifications:<ul><li>University graduate or equivalent</li><li>Qualified Actuary</li></ul>Benefits:This opportunity comes with a competitive salary, 25 days annual leave, private medical insurance, on-target bonus, and an employer's contributory pension of 10%. We also operate in a hybrid working capacity, meaning you have the opportunity to collaborate in the London office and work from home.About us:You will work in an environment where we think big. Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision, and direction. We pave the way towards success and see failure as learning.You are going to experience that we care & dare. We are empathetic. We know when to lead and know when to let others lead. We attract, grow, and coach future leaders.We communicate in a clear & authentic way. We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn.You will grow with your clients. Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions.We lead the We. We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures, and experiences are valued and encouraged.Munich Re is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all our employees.

This is an exciting opportunity to support MRSL’s capital modelling processes, including the operation, parameterisation, documentation and validation of the Internal Model.As part of this role, you will take a lead role in enhancing the wider capabilities of the new Tyche model, including business model uses such as risk appetites, reinsurance analyses and return on capital.To be successful in the role, you will have proven experience of developing required IM outputs in order to meet increasing business demands. Specific areas of focus in this role will include risk appetites, capital allocations and return on capital, reinsurance analyses, risk distributions and business scenario analyses. You will be committed to driving forward good Conduct for the business to deliver the best outcomes for our customers / policyholders.Offer:<ul><li>Support the operation of the Tyche Internal Model, including both the parameterisation of the model and the production of the LCR and all other regulatory submissions;</li><li>Develop the required IM outputs for the Tyche model in order to meet increasing business demands. Specific areas of focus include risk appetites, capital allocations and return on capital, reinsurance analyses, risk distributions and business scenario analyses;</li><li>Develop new inputs into the Tyche IM, maintaining consistency with the old Igloo IM where appropriate;</li><li>Maintain IM documentation including detailed model documentation and capital reports;</li><li>Assist with production, checking, explanation and use of IM output within the business to ensure widespread understanding and effective use.</li><li>Support the IM validation process by carrying out validation analyses as requested by the Deputy Actuary, assist with resolution of validation issues identified; and preparation of the primary validation report for the Director of Risk & Compliance;</li><li>Other activities as needed to support the Actuarial Function with other tasks;</li></ul>Profile:<ul><li>3+ years of capital modelling experience, preferably within a Lloyd’s environment.</li><li>Knowledge and understanding of FCA regulations and Lloyd’s requirements.</li><li>Knowledge and understanding of the underlying principles of insurance and reinsurance.</li><li>Highly developed mathematical / statistical knowledge.</li><li>Experience of liaising with external regulators on capital modelling matters, to address queries and resolve any issues arising.</li><li>Knowledge, understanding and practical experience in using of a range of actuarial modelling techniques and applications for financial reporting.</li><li>Current Lloyd’s market knowledge, as well as knowledge of Solvency II and the classes of business written by the Syndicate.</li><li>Experience with automation or modernisation of actuarial processes and outputs.</li><li>Willingness to further increase knowledge of any Capital related matters and key market topics and develop technical and management skills.</li></ul>About us
MRSG UK Services Limited is the employing entity for staff supporting the business activities of Munich Re Syndicate Limited (MRSL), Munich Re Specialty Group Limited (MRSG), Munich Re Specialty Insurance (UK) Limited (MRSI UK), Roanoke International Brokers Limited (RIBL) and Munich Re Digital Partners Limited (DP).As part of Munich Re Specialty Group (MRSG), Munich Re Specialty Insurance (UK) Ltd (MRSI UK) brings together the long-standing and market-leading underwriting and claims expertise of NMU in the UK marine & specialty insurance markets with GrovesJohnWestrup, our UK Private Client proposition for insurance brokers and other intermediaries with clients who have unique and complex risks, as well as GJW Direct, UK‘s Specialist Direct Boat insurer.Additionally, MRSI UK is affiliated with Munich Re Digital Partners Ltd (MRDP) that provides digital distributors a comprehensive go-to-market partnership in the UK and the EU, and Munich Re Risk Solutions Ireland Ltd (MRRSI) offering marine & specialty insurance solutions in Ireland and the EU.As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Hong Kong, Singapore, Labuan and Dubai. We are also represented in Lloyd’s China.Our group of companies provide solutions covering Casualty, Marine & Cargo, Energy & Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht.Known for our dedication to excellence and quality of service provision, we pride ourselves on offering you a great place to work.Munich Re’s employees are the backbone of the Group’s business success. They are the people that drive the business forward and develop new solutions for our clients.Ensuring that we recruit versatile staff is therefore crucial to our future success. Our objective is to make Munich Re the employer of choice for potential employees on the global job market.To help us achieve this goal we offer a competitive salary and a generous and comprehensive benefits package which we regularly review in accordance with external market data, to ensure you are paid fairly and our benefits are tailored to suit your lifestyle. Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.

Are you an Actuary with an interest in Pricing and searching for a position with variety across product lines? UKLB are looking for the newest member of our team!The successful candidate will work across all UKLB product lines (protection, structured finance and longevity). Proven experience in pricing is desirable but not vital to the role.The role would cover the pricing of new deals, assisting in the negotiation of commercial terms both internally and with clients. The role will include supporting basis development work and product proposition across all product lines. This role provides the opportunity to work with all Business Development Teams across UKLB, including Exco members. Offer:<ul><li>Assist with the production of pricing quotes and basis development work across all lines of business.</li><li>Draft written reports and documentation for results and methods employed.</li><li>Support other team members and be responsible for delivering accurate and timely work as part of a team working together towards targets.</li><li>Assist in the production of key metrics and analysis to support commercial negotiations both internally and externally.</li><li>Develop strong client-focused relationships with our business developers and construct an important branch wide network of contacts.</li><li>Contribute to the team’s on-going drive to improve processes to ensure we are the most efficient and competitive we can be.</li><li>The role may include line management responsibility for student actuaries.</li></ul>Profile:<ul><li>Strong analytical and numerical skills with a willingness to offer judgement calls</li><li>Strong digital literacy, particularly in Microsoft Excel & Word skills. Programming skills for R, Basic VBA or similar programming is desirable</li><li>Experience in the UK insurance market, preferably on the pricing side</li><li>A great teammate who will step up and take ownership when required</li><li>Ability to work on own initiative</li><li>Good organisational and planning skills with the ability to think laterally as well as logically</li><li>Confidence and diplomacy to challenge peers and manage upwards</li><li>Ability to build an understanding of internal and external client strategy and needs</li><li>Ability to grasp new concepts and technical issues quickly, and communicate them effectively to colleagues</li></ul>Qualifications:<ul><li>University graduate or equivalent</li><li>Qualified Actuary</li></ul> BenefitsThis opportunity comes along with a competitive salary, 25 days annual leave along with private medical insurance, on target bonus and employers contributory pension of 10%. We also operate in a hybrid working capacity meaning you have the opportunity to collaborate in the London office and work from home.About usYou will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learningYou are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leadersWe communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearnYou will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutionsWe lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouragedMunich Re is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all our employees

We have a fantastic opportunity to join a growing and high performing team here at Munich Re Specialty Group.You will support MRSL’s IFRS17 quarterly reporting to Group, ensuring group & local milestones are met to a high standard, as well as, supporting the preparation of reports / memos to IFRS17 Steering Committee, Finance Sub Committee and other stakeholders + support other reserving and reporting processes as needed.You will perform a broad range of actuarial reserving and reporting tasks for Syndicate 457, covering both local (Lloyd’s) and group (Munich) requirements. Help to develop the reporting infrastructure & MI to meet the increasing demands from the business and deliver process automation. Offer:<ul><li>Support the quarterly delivery of data submissions to Group, ensuring that these are prepared on time and to a sufficient data quality, with data validations completed, and meets the requested scope & granularity.</li><li>Support the development and quarterly update of local tools to assist in the validation of the results produced by the Group calculation engines.</li><li>Support the analysis of results and assist in the production of reports / memos to Steering Committee, Finance Sub Committee and other stakeholders.</li><li>Identify data limitations and other gaps in current processes, and support the development team in rectifying these.</li><li>Build strong relationships with Finance and IT to build confidence in the actuarial deliverables, share knowledge, and ensure a joined-up approach across the IFRS17 team.</li><li>Promote the wider understanding of IFRS17 requirements and processes within actuarial, finance and other key staff.</li><li>Assist as needed with reserving tasks for both S457 and S1840.</li><li>Assist as needed with other reporting tasks, including SII TPs and reporting Lloyd’s and Group.</li><li>Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.</li></ul>You are required to comply with the PRA and FCA conduct rules:<ul><li>Acting with honesty and integrity at all times</li><li>Acting at all times with due care, skill and diligence</li><li>Being open and honest with the FCA, the Prudential Regulation Authority (PRA) and all UK regulators at all times</li><li>Always paying due regard to the interests of customers and always treat them honestly and fairly</li><li>Observing proper standards of market conduct at all times</li></ul>Profile:<ul><li>1 - 3years of general insurance reserving / reporting experience, ideally within the Lloyd’s market.</li><li>Knowledge of IFRS17 reporting requirements (not essential).</li><li>Knowledge of other reporting basis, e.g. SII, UK GAAP (not essential).</li><li>Willingness to further increase knowledge of any Reserving and Reporting related matters and key market topics and develop technical and management skills.</li><li>Willingness to work to deadlines and in a dynamic international regulatory environment.</li><li>Interest in automation of actuarial processes to meet accelerated timetables.</li></ul>Competencies for the role:<ul><li>Team orientation</li><li>Communication</li><li>Achievement/results-orientation</li><li>Problem-solving</li><li>Flexibility</li><li>Customer focus</li><li>Planning and prioritising</li><li>Share knowledge</li></ul> MRSG UK Services Limited is the employing entity for staff supporting the business activities of Munich Re Syndicate Limited (MRSL), Munich Re Specialty Group Limited (MRSG), Munich Re Specialty Insurance (UK) Limited (MRSI UK), Roanoke International Brokers Limited (RIBL) and Munich Re Digital Partners Limited (DP).As part of Munich Re Specialty Group (MRSG), Munich Re Specialty Insurance (UK) Ltd (MRSI UK) brings together the long-standing and market-leading underwriting and claims expertise of NMU in the UK marine & specialty insurance markets with GrovesJohnWestrup, our UK Private Client proposition for insurance brokers and other intermediaries with clients who have unique and complex risks, as well as GJW Direct, UK‘s Specialist Direct Boat insurer.Additionally, MRSI UK is affiliated with Munich Re Digital Partners Ltd (MRDP) that provides digital distributors a comprehensive go-to-market partnership in the UK and the EU, and Munich Re Risk Solutions Ireland Ltd (MRRSI) offering marine & specialty insurance solutions in Ireland and the EU.As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Hong Kong, Singapore, Labuan and Dubai. We are also represented in Lloyd’s China.Our group of companies provide solutions covering Casualty, Marine & Cargo, Energy & Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht.Known for our dedication to excellence and quality of service provision, we pride ourselves on offering you a great place to work.Munich Re’s employees are the backbone of the Group’s business success. They are the people that drive the business forward and develop new solutions for our clients.Ensuring that we recruit versatile staff is therefore crucial to our future success. Our objective is to make Munich Re the employer of choice for potential employees on the global job market.To help us achieve this goal we offer a competitive salary and a generous and comprehensive benefits package which we regularly review in accordance with external market data, to ensure you are paid fairly and our benefits are tailored to suit your lifestyle.Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.

<div>Are you a nearly qualified or qualified Actuary looking to expand your knowledge and thrive in the Structured Reinsurance space? The Structured Reinsurance Team are looking to bring on board a new thriving Actuary!Offer:Key Responsibilities:<ul><li>Supporting / leading projects for in force management (ultimately taking ownership of this).</li><li>Maintaining close and strong relationships with the various business partners within the Munich Re Group.</li><li>Supporting senior members of the team in new business propositions, including debating creatively with the team and clients in order to design and implement deals which meet their needs.</li><li>Researching reinsurance opportunities arising from existing and new financial reporting and regulatory frameworks.</li><li>Supporting the team in developing strong client-focused relationships.</li><li>Supporting our overall Structured Reinsurance strategy.</li></ul>General Duties & Tasks:<ul><li>Reviewing the profitability of existing Structured Reinsurance business from existing clients and recommending appropriate actions where vital.</li><li>Using desktop and other research to track new developments in the market, people changes, regulatory updates, etc.</li><li>Coordinating internal resources to deliver on client commitments and to ensure relevant technical experts are involved as/when needed.</li><li>Supporting transactions on the actuarial side in respect of deals – approval documentation, contractual development, model reviews etc.</li><li>Working with colleagues to establish and maintain robust processes to mitigate any material operational failures, data/accounting issues, etc.</li><li>Collaborate to raising and improving Munich Re profile within our market.</li></ul>Profile:Key Skills and AttributesEssential:<ul><li>Experience of the life insurance / reinsurance industry</li><li>A great teammate who will step up and take ownership when required</li><li>Strong analytical skills and the ability to apply judgement and take ownership of tasks</li><li>Able to grasp new concepts and technical issues quickly, and communicate them effectively to others</li></ul>Desirable:<ul><li>Experience working in Life related fields.</li><li>Project management skills</li><li>Client management experience</li><li>Good commercial awareness including understanding of Solvency II and IFRS</li><li>Life reinsurance experience</li><li>Good understanding of capital market / non-traditional reinsurance offerings in the market.</li></ul>Qualifications and Educational Requirements:<ul><li>Newly / Nearly qualified actuary</li></ul>BenefitsThis opportunity comes along with a competitive salary, 25 days annual leave along with private medical insurance, on target bonus and employers contributory pension of 10%. We also operate in a hybrid working capacity meaning you have the opportunity to collaborate in the office and work from home when needed.About usYou will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learningYou are going to experience that we care & dare: We are compassionate. We know when to lead and know when to let others lead. We attract, grow and coach future leadersWe communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearnYou will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutionsWe lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouragedHere at Munich Re we endeavour to offer our staff the opportunity to grow in a challenging, ambitious and diverse working environment. We believe that your commitment to apply your outstanding knowledge shapes the future; the future of our clients, of Munich Re, and, of course, your own.Munich Re is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all our employees.</div>

<div>Job Purpose:The Risk Management Actuary works alongside the UK CRO, UK Risk Management team and Munich central functions in strengthening the UK Branch’s Actuarial and Enterprise Risk Management capabilities, striking the correct balance between risk and commercial considerations.In addition to this they will support the setup and ongoing production of Regulatory Reports required to the PRA and FCA as the UK Branch becomes a Third Country Branch post-Brexit.The UK Branch consists of two internal branches. The UK Life Branch (UKLB) which encompasses all Protection, Longevity, Health and Structured Re reinsurance markets in the UK & Ireland. The UK General Branch (UKGB) which encompasses Non-Life run-off business.Offer:Key Responsibilities:Actuarial Risk Management<ul><li>Review of large and complex transactions, especially with respect to financial, operational, legal and reputational risk, in line with the agreed risk appetite.</li><li>Review changes to pricing bases, product designs and pricing tools</li></ul>Risk Regulatory Reporting<ul><li>Develop key UK Branch ORSA and RSR deliverables</li><li>Contribute to the UK Branch annual ORSA process working closely with local teams and Munich central functions</li></ul>Enterprise Risk Management<ul><li>Risk reporting to UK CRO, UK ExCo and Munich central functions</li><li>Monitor and report on the run-off Non-Life book of business</li><li>Delivery of the operational risk management framework</li><li>Review and assessment of other risk types e.g. market, credit, reputation, concentration, liquidity etc.</li></ul>General Risk Management<ul><li>Support the UK Branch to write and maintain profitable commercial business and innovation initiatives, in line with the business strategy and risk appetite, acting as a Business/Risk Partner</li><li>Promote Risk Management principles, develop the UK Branch risk strategy, and communicate and raise awareness of Risk Management within the UK Branch</li><li>Develop the UK Branch risk strategy and appetite including product limits, striking the balance between Risk and Commercial demands</li><li>Periodically represent risk management in special initiatives (e.g. product developments and business improvements)</li><li>Maintain and improve the UK Branch risk management framework, policies and processes</li><li>Be a point of reference for the business for guidelines and control processes</li></ul>Profile:Key Skills and Experience:EssentialAt least basic knowledge and experience of the following areas:<ul><li>Actuarial and Enterprise Risk Management methodologies, frameworks</li><li>Life pricing experience, in at least one of Protection, Longevity and Structured Re deal pricing</li><li>Confidence and diplomacy to challenge peers and manage upwards</li><li>Effectively dealing with senior stakeholders</li><li>Ability to build an understanding of internal and external client strategy and needs</li></ul>Desirable<ul><li>Significant experience in the UK insurance market, preferably in reinsurance, risk management or consulting</li><li>Experience in the UK protection market with a strong understanding of the key products and features</li><li>UK regulatory risk and capital reporting requirements, Solvency II Standard Formula and Internal Model methodologies</li><li>Experience of a balance sheet and/or reporting</li><li>Prior experience of developing the ORSA and/or RSR reports</li></ul>Qualifications and Educational Requirements:<ul><li>Essential: University graduate or equivalent; qualified / nearly qualified actuary</li><li>Desirable: A postgraduate qualification in insurance or risk management (e.g. CERA)</li></ul>Personal Attributes:<ul><li>Commercial awareness and pragmatism</li><li>Perseverance, focus, ambition</li><li>Questioning nature / intellectual curiosity</li><li>Diplomacy and tact</li><li>Self-awareness, ability to act on constructive feedback</li><li>Flexible working style</li></ul>Benefits:
You will be rewarded with a competitive salary, 25 days annual leave (pro rata) along with private medical insurance and employers contributory pension of 10%. We offer a hybrid working policy with a mix of working from home at our London office.About UsHere at Munich Re we seek to offer our staff the opportunity to grow in an exciting, results-oriented and diverse working environment. We believe that your dedication to apply your outstanding knowledge crafts the future; the future of our clients, of Munich Re and of course your own.Munich Re is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all our employees.</div>

<div>Are you a qualified or newly qualified actuary looking to expand upon their Solvency II and IFRS reporting knowledge?UKLB are hiring in their Financial Reporting team!This an opportunity to join an FR team which is looking to support the growth ambitions of the UK Life Branch. The FR team is responsible for the valuation of the UK’s Longevity, Protection and Structured reinsurance, actively involved in the management of a large book of in-force business, the take-on of new business, as well as basis review work. The ideal fit for this role would be somebody open to being exposed to all business lines. Given the range of work the team carries out, we operate in a flexible, collaborative way and encourage a supportive environment so that people can develop. We are looking for individuals who are technical specialists in at least one of our core lines of business, namely Protection, Structured Reinsurance and Longevity. Experience in the reporting is desirable.Your job:Key Responsibilities:The delivery of the IFRS and Solvency II year-end results which includes:<ul><li>Planning and coordinating outputs as well as collaborating closely with other departments to ensure results are produced by set targets</li><li>Checking, reviewing and supporting the analysis of results</li><li>Reviewing and implementing changes to assumptions</li><li>Ensuring consistency between IFRS and SII reporting</li><li>Working with auditors and central Munich to demonstrate compliance with reporting principles</li></ul>The delivery of other actuarial and financial reports that help internal management make informed decisions.Ensuring all key processes and methodologies within or required by FR are effective and deliver the information needed to support regulatory, control and business needs by:<ul><li>Evaluating process and methodologies to establish areas for improvement</li><li>Suggest and develop new and improved processes and methods</li><li>Implementing any agreed improvements/changes</li></ul>Be a key technical specialist and contact point within the team across at least one of Protection, Structured reinsurance or Longevity. Contribute to projects to promote knowledge transfer and common approaches, providing support, experience, opinion as appropriate.Contribute to the overall Branch management processes and performance by:<ul><li>Working with colleagues to develop optimum financial reporting solutions and decisions for the Branch</li><li>Providing informed advice and reports as appropriate</li><li>Formulating solutions for discussion as required.</li></ul>Your profile:Key Skills and Experience EssentialKnowledge and experience of the following technical areas:<ul><li>Actuarial, SII and accounting reporting methodology and practice (local and Munich Re)</li><li>Key financial reporting processes, templates and tools</li><li>Life insurance and reinsurance administration practice</li><li>Ability to grasp new concepts and technical issues quickly, and communicate them efficiently to colleagues</li><li>Strong analytical skills and willingness to offer judgement calls</li></ul>Desirable<ul><li>Basic knowledge of IFRS, USGAAP, tax and other relevant regulations</li><li>In-depth knowledge and experience of several of the technical areas described above</li><li>People management skills</li></ul>Qualifications and Educational Requirements:<ul><li>Qualified Actuary (recently qualified)</li></ul>Personal Attributes:<ul><li>Highly motivated</li><li>Great teammate</li><li>Strong organisational skills</li><li>Excellent communicator (written and verbal)</li></ul>BenefitsThis opportunity comes along with a competitive salary, 25 days annual leave along with private medical insurance, on target bonus and employers contributory pension of 10%. We also operate in a hybrid working capacity meaning you have the opportunity to collaborate in the office and work from home.About usYou will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning
You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leadersWe communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearnYou will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutionsWe lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouragedMunich Re is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all our employees.</div>

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