Reserving Actuary

Reserving Actuary

Company: Munich Re Specialty - Global Markets

Location: London, United Kingdom

At 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 Description

We 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

• 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.
• 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.
• 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.
• Monitor claims experience using actual versus expected analysis, and document the results for review.
• Carry out deep dives on key reserving uncertainties and reserving classes. Communicate results to key stakeholders.
• 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.
• Work collaboratively and proactively engage relevant stakeholders, e.g., support reporting teams on key drivers of reserving movements.
• Build knowledge of actuarial reserving through on-the-job learning and structured training, and assist in the same for analysts.
• Assist as required with wider reserving tasks such as the annual reserve report, benchmarking exercises, and deep-dive reserving investigations.
• Contribute to other Reporting and Reserving tasks as needed.
• Help drive forward good conduct for the business to deliver the best outcomes for customers/policyholders.

Knowledge and Skills

• Mathematics or Actuarial Background
• Good working knowledge of Excel and databases
• Able to understand and explain key Actuarial processes

Education and Professional Qualifications

• University Degree in a quantitative field such as Mathematics, Actuarial Science, or Statistics.
• Qualified actuary (FIA or equivalent) or qualified by experience.

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 & 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.

Benefits

• 25 days Annual Leave + Bank Holidays
• 10% Non-contributory Pension
• Eligibility for an Annual Bonus
• Private Medical + Dental Insurance
• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & Continuing Professional Development Support
• Hybrid Working + IT Home Set-up Support

Apply now!