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Munich Re is hiring a

Pricing Actuary

Pricing Actuary

Company: Munich Re Services

Location: London, United Kingdom

Job Purpose:

  • We are seeking high calibre individuals with relevant experience to sit within the UK Pricing team. Applicants should be high potential actuaries with the role being flexible to the level of experience of the successful candidate.
  • This an opportunity to be part of a Pricing team which is looking to support the growth ambitions of the UK Life Branch. The Pricing team is responsible for Longevity, Protection and Structured reinsurance pricing, negotiating commercial terms both internally and with clients, as well as basis development work. Therefore the successful candidate should be open to and has the opportunity to get exposure to all business lines.
  • Given the range of work the team carries out we operate in a flexible, collaborative way and encourage a supportive environment so that people have the opportunity to develop.
  • We are looking for individuals who are technical experts in at least one of our core lines of business, namely Protection, Structured Reinsurance and Longevity. Relevant experience in the pricing of deals is desirable but not essential.

Key Responsibilities:

  • Play a key role in the delivery of quotes across all lines of business
  • Be a key technical expert and contact point within the team across at least one of protection, structured reinsurance, longevity, modelling and basis development
  • Propose and support commercial negotiations both internally with key stakeholders and externally with clients
  • Contribute to the team’s on-going drive to improve processes to ensure we are the most efficient and competitive we can be
  • Develop strong client-focused relationships with our business developers and construct an important branch wide network of contacts
  • Be responsible for delivering accurate and timely work as part of a team working together towards tight deadlines

General Duties and Tasks:

  • Derive best estimate bases for protection and longevity quotations
  • Check and peer review other team members’ work depending on the level of experience
  • Provide guidance to more junior members of the team
  • Provide technical input to the development of protection products, longevity proposition and structured finance solutions
  • Develop and maintain pricing tools
  • Develop technical knowledge and expertise relevant to reinsurance pricing.
  • Develop the ability to represent the team and communicate results to senior management and other departments.
  • Develop a sound commercial awareness of our business.
  • Work successfully with the team and with others in the branch

Key Skills and Experience:

  • Significant and relevant experience in the UK insurance market, preferably in reinsurance and preferably on the pricing side
  • Confidence and diplomacy to challenge peers and manage upwards
  • Effectively dealing with stakeholders from a variety of technical backgrounds and levels of seniority
  • Ability to build an understanding of internal and external client strategy and needs
  • Ability to grasp new concepts and technical issues quickly, and communicate them effectively to colleagues

Qualifications and Requirements:

  • University graduate or equivalent
  • Qualified Actuary

Benefits:

You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%

About us:

You will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning

You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders

We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn

You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions

We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged

Munich Re is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all our employees

Apply now!

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