We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company:

Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities.

As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive.

The Opportunity:

Future focused and always one step ahead!

We’re looking to hire a Senior Actuary to enrich the MR-AS Corporate Reserving Team.

The responsibility of Corporate Reserving is to use quantitative and qualitative methods to perform and oversee the loss reserve analyses for Munich Re’s property and casualty business in the US. This includes continuous monitoring of the reserve position and the further development of actuarial methods, the underlying systems, and tools.

Additional responsibilities include the assessment of reserve uncertainty and reserve risk, as well as financial reporting on non-life technical provisions under IFRS17, Solvency II, US GAAP, and Statutory standards.

In your role, you will oversee all aspects of actuarial reserving, including the development, governance, and communication of reserve estimates and methodologies for the business written by NEXT Insurance Companies. You will ensure that reserves are rigorously established, well-understood, and trusted by internal and external stakeholders to support NEXT’s loss ratio projections.

This position is critical to ensuring financial soundness, transparency, and alignment with NEXT’s long-term growth objectives.

Responsibilities:

Leading, developing, and empowering a business-oriented reserving team with diverse backgrounds and skills to enable the team to continuously increase business impact.
Develop a strategic roadmap for reserving practices at NEXT, ensuring alignment with company financial and strategic goals.
Perform and oversee quarterly actuarial analyses to establish loss reserve indications and underlying assumptions supporting amounts booked on NEXT’s balance sheet.
Build analytics and reporting to provide insight into reserve adequacy, drivers of changes, and month-to-month actual vs. expected development.
Fostering interfaces with various stakeholders in Munich Re Group, including NEXT Insurance, Central Reserving (ERGO), and other Financial and Management Reporting (FMR) Functions.
Influence cross-functional decision-making by clearly articulating the financial impacts of reserve analyses.
Establish governance processes to ensure consistent methodologies, documentation, and quality standards in reserving.
Ensure quarterly and annual internal as well as external closing and reporting for NEXT Insurance to work smoothly and to be concluded with a very high quality.
Manage relationships with external actuarial service providers, ensuring consistency, quality, and alignment with NEXT’s standards.
Achieve integral collaboration with ERGO Central Reserving to ensure full transparency of reserving insights.

Qualifications:

Bachelor’s degree in economics, mathematics, actuarial science, or a similar qualification with a strong quantitative focus; Masters or MBA preferred. FCAS required.
10+ years of experience in non-life insurance. Experience with small commercial insurance products preferred.
Excellent quantitative and analytical skills with emphasis on practical application.
Proven leadership and interpersonal skills, including people management experience.
Strong verbal and written communication skills with the ability to simplify complex analyses.
Familiarity with IFRS17, Solvency II, US GAAP, and Statutory standards preferred.

The Company is open to considering candidates in Princeton, NJ. The base salary range anticipated for this position is $200,400 - $295,200 plus opportunity for company bonus based upon a percentage of eligible pay.

In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays, and paid time off (PTO).

At Munich Re, we see Diversity, Equity, and Inclusion as a solution to the challenges and opportunities all around us. Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work.

We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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