Life Pricing Actuary

Life Pricing Actuary

Company: Munich Re

Location: Madrid, Spain

The Risk and Pricing regional department based in Madrid is responsible for providing Munich Re's businesses in the markets of Southern Europe (Spain, Portugal, Italy, and Malta) and Latin America with best-in-class actuarial and risk management services.

We are looking for an Actuary to join the Pricing team, under the regional Head of Risk and Pricing, supporting the region in underwriting and pricing of life and health reinsurance business, with experience in pricing, product development, and risk management. In this role, the actuary will work closely with the client managers and the other business origination units in the development and implementation of a strategic business plan in reinsurance solutions, and various projects of the department.

As a member of the regional Pricing team, the actuary will join a community of Life and Health actuarial experts across Europe and Latin America, and from a business perspective will report to the Actuarial Pricing Manager.

Your Job

• Provision of technical services to clients with a focus on Latin America, including the Brazilian market, in coordination with the local staff, particularly for the acquisition of new business and the maintenance of existing business, with specific support to Client Management, Business Development, and Financial Reinsurance teams
• Support in the derivation of the best estimate bases and their timely updating
• Support for product development initiatives, in close cooperation with MR experts in Madrid, Munich, and London
• Support in the monitoring and valuation of existing and new business
• Execution of risk management processes, especially with high-risk business
• Preservation, acquisition, and promotion of expertise and technical coordination, with a focus on international exchange
• The position will be based in Madrid

Your Profile

• University degree in statistics, mathematics, or actuarial science, ideally a fellow member of an internationally recognized Actuarial Association
• Experience in life (re)insurance pricing, including life contingencies, probabilities, and reserving, ideally in different markets or products
• Experience in modeling with the use of actuarial tools is a must, and knowledge of programming tools such as Visual Basic, R, Matlab, etc.
• Fluent in Spanish and very good business English. Portuguese would be a plus
• The candidate should demonstrate a high degree of:
  • Independence and ability to set priorities
  • Motivation to work in teams and spread knowledge
  • Communication skills
  • Analytical skills
  • Personal responsibility and ownership
  • Ability to work under time pressure

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.

Unlock your potential

• Diversity, Equity & Inclusion: we embrace the power of differences and are convinced that diversity fosters innovation and resilience and enables us to act braver and better.
• 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.
• Hybrid working: living the best of both worlds – we offer you a very flexible approach.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!