Munich Re logo

Munich Re

Share this job:

View all jobs at Munich Re

Munich Re is hiring a

Sr Actuary - Systems & Process Specialist

Sr Actuary - Systems & Process Specialist

Company: Munich Re America Services

Location: New York, United States

We’re adding to our diverse team of experts and are looking to hire a Senior Actuary to enrich our Transformation, Operations and Processes team within Corporate Reserving. 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 are 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.

As part of the Transformation, Operations and Processes team, your role is to give guidance to developers, actuaries and analysts, shape the processes and systems that are used for reserving and act as an interface between local and global finance functions within Munich Re.


  • Collaborating in a diverse team with various backgrounds and skills aiming to maximize the quality of Corporate Reserving’s deliverables and the success of Munich Re Group
  • Providing guidance for developers, actuaries & analysts and managing projects
  • Driving automation and complexity reduction and transitioning towards new ways of collaboration
  • Creating new, modifying & enhancing existing applications, methods and systems in collaboration with Global Reserving, business units and IT
  • Performing actuarial analyses (actual vs. expected comparisons, automated reserving calculations, business segmentation)
  • Working in depth with and preparing/visualizing actuarial data to facilitate decisions and streamline processes
  • Communicating and acting as an interface between Corporate Reserving and the Global Reserving team, Controlling, Accounting, and Claims staff locally and globally
  • Contributing to quarterly and annual, internal as well as external (Statutory, US GAAP, Solvency II and IFRS17) reporting and closing with regards to the non-life reinsurance business
  • Building trusted relationships and aligning different interests in a complex organization


  • Bachelor’s degree in economics, mathematics, actuarial science or a similar qualification with a strong quantitative focus; Masters or MBA preferred
  • 7+ years of actuarial experience
  • ACAS or FCAS (or comparable credential) preferred
  • Experience in non-life (re)insurance (applicable experience can include reserving, pricing, underwriting, risk management, accounting, reporting and/or controlling or similar disciplines)
  • Excellent quantitative and analytical skills with emphasis on practical application
  • Experience with insurance-related databases and data warehouses
  • Proficiency in SAS, SQL, R, TM1, and/or Python
  • Strong verbal and written communication skills, including the ability to explain technical concepts to non-technical audiences
  • Familiarity with IFRS17, Solvency II, US GAAP, and Statutory standards
  • Strong project management, process optimization and change management skills

The base salary range anticipated for this position is $193,100 to $283,100 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 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.

Apply now!

View all jobs at Munich Re