Junior Reserving Actuary (Non-Life)

Junior Reserving Actuary non-life (m/f/d)

Company: Munich Re

Location: Munich, Germany

Central Reserving (CR) uses quantitative and qualitative methods to perform and oversee the loss reserve analyses for Munich Re’s group-wide non-life business. This includes continuous monitoring of the reserve position as well as the further development of actuarial methods, underlying systems and tools. Additional responsibilities include the financial reporting on non-life technical provisions.

As a member of Central Reserving, your primary focus will be on operational reserving activities for Great Lakes Insurance, a primary insurance subsidiary of Munich Re. You will be an integral member of an international team, working closely with colleagues based in both Munich and London.

We're seeking talented and ambitious individuals who are eager to learn and take on new challenges, with the opportunity to assist with in-depth actuarial reserving analyses.

YOUR JOB

• Evaluating reserves based on actuarial methods and acquiring detailed portfolio expertise for selected non-life segments.
• Empowering informed decision-making with comprehensive actuarial analyses.
• Communicating with colleagues from many different departments (controlling, accounting, risk management, claims) to acquire relevant insights.
• Assisting with the creation of clear, concise presentations for various stakeholders.
• Contributing to (quarterly) internal as well as external reporting (IFRS17, SII, HGB) for Great Lakes and the Global Specialty Insurance (GSI) portfolio.

YOUR PROFILE

• University degree with a strong foundation in mathematics and statistics, such as Actuarial Science or a related field.
• Actuarial education (Aktuar DAV or similar degree of other actuarial society) intended or started.
• Sound quantitative and analytical skills with emphasis on practical application and high standard of accuracy.
• Strong affinity to working with large data sets, experience with programming languages desirable, solid understanding of Excel and Power BI.
• Ability to consider feedback and communicate to colleagues in appropriate ways. Ability to communicate complex concepts in a simple way.
• Motivated, curious, open-minded with team-oriented focus and discreet concerning confidential matters.
• Solid organizational skills.
• English skills are required, with additional languages being a desirable asset.

Application Instructions

Please apply through our online portal and upload your CV, as well as your academic reference letters, including school certificates, graduation certificates and transcripts of record for any degrees. If applicable, please also submit reference letters from any previous employers or certificates from any other qualifications you may have. We recommend writing a cover letter to tell us more about why the position and Munich Re is of interest to you.

About us

As the world's leading reinsurance company with more than 11,000 employees at over 50 locations, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into a manageable risk we enable fundamental change. Join us working on topics today that will concern society tomorrow, whether that be climate change, major construction projects, medical risk assessment or even space travel.

Together we embrace a culture where multiskilled teams dare to think big. We create the new and the different for our clients and cultivate innovation.

Sounds like you? Push boundaries with us and be part of Munich Re.

Our employees are our greatest strength. That’s why we offer them a wide range of benefits. You can find some examples below.

Unlock your potential

• Diversity, Equity & Inclusion: we embrace the power of differences and are convinced that diversity fosters innovation and resilience and enables us to act braver and better.
• Continuous Learning: we believe that continuous learning is a key differentiator and critical for building new skills and accelerating growth.
• Career Mobility: we actively support career mobility, and our strong global and regional presence offers a wealth of career growth opportunities for you.

Rewards & Recognition

• Competitive salary: appropriate compensation for your high level of commitment.
• Retirement provision: state of the art in-house pension solutions.
• Work-life balance: promoting the compatibility of family and work in addition to overall work-life balance.
• Health management: focus on your physical and mental health far beyond legal requirements.
• Hybrid working: living the best of both worlds – we offer you a very flexible approach as well as the opportunity to work from abroad on an occasional basis.

* Munich Re not only stands for fairness with regard to its clients; it is also an equal opportunities employer. Severely disabled candidates will also be prioritized, if equally qualified.