Munich Re logo

Munich Re

Share this job:

View all jobs at Munich Re

Munich Re is hiring a

Senior Actuarial Associate (ERM)

Munich Re North America (Life & Health) has a dedicated Enterprise Risk Management (ERM) organization with the objective to control financial and non-financial risks, in order to enable an efficient allocation of capital, profitable growth and predictability in business results. The Senior Actuarial Associate, ERM will report to the VP of ERM (Business Risk).

Your Job:

Risk Monitoring and Reporting

  • Support execution of the Munich Re Risk Monitoring framework.
  • Produce and analyse risk monitoring results (i.e., Risk Dashboard, Pandemic Exposure, Terrorism Exposure, Liquidity Risk, Accumulation risk, Volatility risk, etc.)
  • Produces quantitative analysis for the annual Own Risk and Solvency Assessment (ORSA) of the US Life entities
  • Produces Economic Solvency results (LEM) for North American Life entities

Economic Risk Modelling

  • Support development of the Economic Risk Capital (ERC) for Insurance Risk
  • Produce ERC for transactions
  • Calibrate and validate ERC model parameters and models

Business Development

  • Support second line of defense duties for Pricing activities such as:
  • Review of pricing frameworks
  • Sample quote reviews
  • Review of pricing models and tools

Your Profile:

  • ASA required with progress towards FSA
  • Bachelor's Degree in Statistics, Actuarial Science, Mathematics, Risk Management or related field
  • 3+ year experience (including product design, features, and key risks) of life insurance products required. Life reinsurance experience preferred.
  • GGY AXIS modeling experience with expertise in building and validating models
  • MATLAB experience in coding and debugging models
  • Financial reporting experience with US Stat/Tax, US GAAP, SII, EV preferred.

Our Benefits

  • Comprehensive Medical Plans
  • PTO and Family Leave
  • Retirement Savings Plans
  • Dental and Vision Plans
  • Life and Disability insurance
  • Employee Assistance Program
  • Adoption Assistance
  • Wellness Programs - Calm, WW, SoFI, Virgin Pulse
  • Commuter Benefits
  • FSA and HSA Plans
  • Hospital Indemnity, Critical Illness and Accident Plans

For New York City based employees, the base salary range anticipated for this position is $140,341 - $155,114, plus an opportunity for an annual company bonus based upon a percentage of eligible pay. The salary estimate displayed represents the typical salary range for candidates hired in this position. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role.

At Munich Re US, we see Diversity 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 strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day.

We recruit and develop talent with a focus on providing our customers the most innovative products and services. We are an equal opportunity employer. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

About Munich Re

Together, we engage with everything we have and are, to help humankind act braver and better. As the world's leading reinsurance company with more than 40,000 employees in over 50 locations around the globe, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into manageable risk, we enable fundamental change.

We recognize Diversity, Inclusion, and Belonging as a key priority with a culture that welcomes different thoughts and opinions. We dare to think big and are continuously innovating on behalf of our clients. Please note that only candidates who are selected for interview will be contacted directly. We thank all candidates for their interest.

View all jobs at Munich Re