Valuation & Reporting Actuary (Munich Re Markets)

Munich Re Markets: Valuation & Reporting Actuary (m/f/d)

Company: Munich Re

Location: Munich, Germany

The business unit Munich Re Markets structures and administers tailor-made reinsurance solutions for Munich Re’s life insurance clients with a focus on clients’ products in the savings, retirement, and investment space. These transactions typically involve combinations of financial markets and insurance risks while delivering a capital and/or risk management impact relevant to an insurer's corporate finance management and planning.

Within the business unit, we are responsible for a broad range of tasks in the area of “Monitoring & Reporting.” Beyond a daily analysis of the capital markets, our responsibilities include reporting according to international standards (IFRS 9 and 17), local regimes (e.g., German, Swiss, or Chinese GAAP), regulatory reporting according to Solvency II, and internal management reporting.

The team acts as the business unit’s interface to risk management, the reserving division, controlling, and risk carriers in various countries. While reporting duties are formally recurring, their content is always different due to a variety of reasons and effects, not just because of the multitude of standards we have to comply with.

We shape our future by ultimately striving for the highest possible automation of our processes. A high degree of automation is required to further scale up our business and enable the division to succeed with its ambition.

In line with the growth of the business unit, our multinational and interdisciplinary team is also growing and looking forward to tackling the multitude of challenges with you!

Your Job

• Execute selected monitoring & reporting tasks for the business unit, particularly Solvency II and internal value-based management; further tasks could be in the sphere of either IFRS 17, non-hedged business, or comprehensive reporting for our internal primary insurer.
• Automate our landscape further by detecting and closing gaps with high-quality coding.
• Contribute to other tasks of the team, one-off or recurring, such as overarching quality assurance and processes around internal and external audit.

Your Profile

• University degree in (actuarial/finance) mathematics, physics, or informatics is a must; ongoing or completed training for fellowship in an actuarial association is considered an asset.
• Strong skills in R are a must, with additional preference for any combination of the following: experience with data.table/data processing, building packages, larger R-based projects, including experience in version control systems.
• Basic SQL knowledge.
• At least 2 years of experience in (re-)insurance (Life or Risk Management/Reserving), investment banking, consultancy, or related areas, ideally with some knowledge in valuation models, International Reporting Standards (IFRS 9/17), and European and/or Chinese regulatory standards (Solvency II/C-ROSS).
• Experience in project work and, ideally, project management.
• Excellent analytical and conceptual skills.
• Fluent business English; German would be considered an advantage.

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. 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 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.
• Continuous Learning: We believe that continuous learning is a key differentiator and critical for building new skills and accelerating growth.
• Career Mobility: We actively support career mobility, and our strong global and regional presence offers a wealth of career growth opportunities for you.

Rewards & Recognition

• Competitive Salary: Appropriate compensation for your high level of commitment.
• Retirement Provision: State-of-the-art in-house pension solutions.
• Work-Life Balance: Promoting the compatibility of family and work in addition to overall work-life balance.
• Health Management: Focus on your physical and mental health far beyond legal requirements.
• Hybrid Working: Living the best of both worlds – we offer you a very flexible approach as well as the opportunity to work from abroad on an occasional basis.

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

Münchener Rückversicherungs-Gesellschaft

Lisa Schneider

HR Consultant