Madrid

Qualified

Senior Actuary

Life

Investments

Health

Property & Casualty

Reserving

Reporting

Reinsurance

Risk

Python

Modelling

Coding

Pricing

Excel

Senior Life ActuaryCompany: Munich ReLocation: Madrid, SpainDepartment: Life & Health Risk ManagementReporting to: Head of Risk & PricingAbout the Life & Health Hub in Madrid:Together with the Hubs in Munich and London, Madrid forms the Life and Health division in EULA of Munich Re. The Life & Health Madrid Hub aims to become an increasingly relevant player in the generation of new business for Munich Re through its initiatives in Southern Europe and Latin America.To achieve its ambition, Madrid has focused its growth strategy on scaling the traditional Protection business in Life and Health, shaping it via Business Transformation and expanding its Financial Reinsurance solutions across the region.The Risk and Pricing department based in Madrid is responsible for providing best-in-class actuarial and risk management services, ensuring the Hub’s rapid growth occurs sustainably and in line with the Group’s underwriting guidelines.About the role:The Senior Life Actuary works closely alongside colleagues in the Madrid Hub, the Risk Management team from the UK, and within Munich central functions in strengthening the Actuarial capabilities in the region.They will support the ongoing production of internal reports required, such as the Annual Risk Report, the Risk Assessment Monitoring, and the Operational Risk analysis.Madrid has a regional responsibility along Spain, Portugal, Italy, Malta, and Latin America, encompassing all Life and Health Protection and Financial Reinsurance contracts.The position will be based in Madrid.Key Responsibilities:Actuarial Risk Management:<ul><li>Review of large and complex transactions, especially with respect to Life business, underwriting/actuarial, financial, and operational risk, in line with the defined risk appetite.</li><li>Review changes to pricing bases, product designs, and pricing tools.</li><li>Work collaboratively with the other regional risk management units on projects and reviews.</li></ul>Enterprise Risk Management:<ul><li>Risk reporting to Regional CRO, Life & Health management in Madrid and central functions.</li><li>Review and assessment of other risk types e.g. market, credit, reputation, concentration, liquidity, etc.</li><li>Second line treaty wording review.</li></ul>General Risk Management:<ul><li>Support the business to write and maintain profitable commercial business and innovation initiatives, acting as a Business/Risk Partner.</li><li>Promote Risk Management principles, in line with the underwriting strategy, and communicate and raise awareness of Risk Management within the region.</li><li>Be a point of reference for the business for group guidelines and control processes.</li></ul>Key Skills & Experience:Essential:<ul><li>University graduate or equivalent; qualified actuary.</li><li>Experience in Life Actuarial areas.</li><li>Life pricing experience, particularly in areas of Life Protection.</li><li>Confidence and diplomacy to challenge peers and manage upwards.</li><li>Effectively dealing with senior stakeholders.</li><li>Ability to build an understanding of internal and external client strategy and needs.</li><li>Experience delivering projects.</li></ul>Desirable:<ul><li>A postgraduate qualification in insurance or risk management (e.g. CERA).</li><li>Significant experience in the Life and Health insurance market, preferably in reinsurance, pricing, or consulting.</li><li>Understanding of key features of a reinsurance contract.</li><li>Good knowledge of the protection market’s key products and features.</li><li>Understanding and familiarity with a range of Reinsurance Structuring solutions.</li></ul>Unlock your potential:<ul><li>Diversity, Equity & Inclusion: We embrace the power of differences and are convinced that diversity fosters innovation and resilience.</li><li>Continuous Learning: We believe that continuous learning is a key differentiator and critical for building new skills and accelerating growth.</li><li>Career Mobility: We actively support career mobility, offering a wealth of career growth opportunities.</li></ul>Rewards & Recognition:<ul><li>Competitive salary: Appropriate compensation for your high level of commitment.</li><li>Retirement provision: State-of-the-art in-house pension solutions.</li><li>Work-life balance: Promoting the compatibility of family and work.</li><li>Hybrid working: A very flexible approach.</li></ul>

Surety Pricing ActuaryCompany: Munich Re Risk Solutions IrelandLocation: Madrid, SpainAt Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products, and industry leaders working in a supportive environment.At the heart of our success is a strong culture where people are encouraged to be present, bold, and curious, allowing them to achieve their individual goals.We are currently looking for a Surety Pricing Actuary to be based in Madrid on a full-time basis, reporting into the Head of MGA Performance.This individual will provide full provision of actuarial pricing and performance management support to our newly launched Surety business under MRS-GM.In addition to the day-to-day tasks, the successful candidate will contribute to activities linked to the development and implementation of the strategy of Surety primary insurance.This role will work closely with the underwriting team supporting the Chief Underwriting Officer, Surety, as well as Heads of, Underwriters, and both the London and Munich Finance teams.Responsibilities:<ul><li>Responsible for designing and developing a world-class pricing tool for Surety business working closely with the European underwriting team.</li><li>Support the development and enhancement of technical and commercial pricing capabilities for the Surety products in Europe, with initial focus in Spain.</li><li>Assist underwriting teams with product design ensuring any changes are correctly priced.</li><li>Track price adequacy and performance and lead profitability exercises using modelling and reserving techniques, as required.</li><li>Conduct technical analyses, investigations (e.g. inflation), and independent deep dive reviews.</li><li>Stay current on market dynamics and actuarial developments, including frequency, severity, and exposure accumulation trends.</li><li>Present results to a variety of stakeholders to provide insight and recommendations on pricing and performance related results for the financial lines product.</li><li>Engage proactively and collaborate with relevant stakeholders, focusing on pricing and performance.</li><li>Conduct actuarial analysis to support the onboarding of additional territories or new MGAs for Surety business.</li><li>Participate in Munich Re Specialty projects and initiatives to improve modelling capabilities and streamline pricing processes.</li><li>Contribute to expanding the breadth of actuarial, modelling, and statistical techniques used across the team.</li></ul>Knowledge and Skills:<ul><li>Expertise in pricing Surety insurance, ideally with pricing knowledge of a range of financial lines.</li><li>Experience in working independently and managing senior stakeholders.</li><li>Proven experience with modelling and data used in credit-related products.</li><li>Good understanding of standard reserving methods for Surety.</li><li>Strong analytical skills and attention to detail, with a proven ability to work collaboratively with underwriters.</li><li>Foundational knowledge and understanding of global macroeconomics and financial markets.</li><li>Excellent written and verbal communication skills, including report writing and presentations.</li><li>Fluency in English is a must; other European languages are also an advantage.</li><li>Strong proficiency in Excel, actuarial pricing software, databases, and tools is indispensable.</li></ul>If you are excited about this role but your experience does not align perfectly with everything outlined, we encourage you to apply anyway.Diversity, Equity & Inclusion:At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience. We recognize diversity can be multi-dimensional, intersectional, and complex, and we want to build a diverse workforce that includes a wide range of identities and backgrounds.All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process.Learning and innovating today, striving for sustainable societies and business tomorrow.At Munich Re Specialty – Global Markets, our approach to ESG is underpinned by our desire to seize business opportunities and nurture a stimulating and inclusive work environment.Apply now!

The Actuarial Function Holder (AFH) has a pivotal role within an insurance company. The Actuarial Function at Allianz Seguros must ensure the set-up of an appropriate control framework in line with the Allianz Integrated Risk and Control System for the validation of the key work products used for disclosure purposes. The AFH plays a critical role in reserving oversight, coordination of the calculation of technical reserves, pricing, and profitability oversight for Life/Health & non-Life portfolios.What you do<ul><li>Reserving Oversight: Provide leadership and direction for the reserving function, ensuring the integrity and reliability of reserve estimates for insurance liabilities. Develop and implement robust reserving methodologies, assumptions, and controls in accordance with regulatory requirements and best practices.</li><li>Opinion on Underwriting, Pricing and Product Development: The Actuarial Function forms an opinion about the adequacy and appropriateness of the pricing and underwriting policy.</li><li>Opinion on the Reinsurance Policy and Program: The Actuarial Function forms an opinion about the compatibility of the reinsurance process with the risk profile of the company, the adequacy and effectiveness under stress of the reinsurance program.</li><li>Contribution to Risk Management: The Actuarial Function contributes to the design, methodology, parameter, and assumptions of models used to determine the technical insurance risks component.</li><li>Actuarial Function Report (AFR): The Actuarial Function is obliged to provide a report on an annual basis, the Actuarial Function Report (‘AFR’). AFR addresses explicitly potential shortcomings that may have been identified in the relevant topics, including data quality and internal processes, and gives recommendations to solve them.</li></ul>What you bring<ul><li>Qualified Actuary with significant experience in reserving/pricing roles within the insurance or reinsurance industry, preferably at a senior level.</li><li>Extensive knowledge of actuarial principles, reserving/pricing techniques, and regulatory requirements applicable to insurance liabilities.</li><li>Strong leadership and communication skills, with the ability to effectively engage and influence stakeholders at all levels of the organization.</li><li>Proven ability to lead and develop high-performing teams, foster collaboration, and drive results in a dynamic and fast-paced environment.</li><li>Advanced proficiency in actuarial modeling, statistical analysis, and data manipulation using software tools such as Excel, SAS, R, or Python.</li><li>Strategic thinking and problem-solving abilities, with a focus on delivering innovative solutions to complex reserving challenges.</li><li>Commitment to professionalism, integrity, and ethical conduct in all aspects of actuarial work.</li></ul>The Actuarial Function Holder plays a critical role in ensuring the accuracy, adequacy, and compliance of reserve estimation processes. They provide strategic leadership and guidance to support the organization's financial stability and risk management objectives. The Actuarial Function Holder at Allianz Seguros will be reporting to the Chief Actuary of the company.

The Actuarial Function Holder (AFH) has a pivotal role within an insurance company. The Actuarial Function at Allianz Seguros must ensure the set-up of an appropriate control framework in line with the Allianz Integrated Risk and Control System for the validation of the key work products used for disclosure purposes and an appropriate control framework for other external and regulatory reporting. The AFH plays a critical role in reserving oversight, coordination of the calculation of technical reserves, pricing and profitability oversight for Life/Health & non-Life portfolios.What you do<ul><li>Reserving Oversight: Provide leadership and direction for the reserving function, ensuring the integrity and reliability of reserve estimates for insurance liabilities. Develop and implement robust reserving methodologies, assumptions, and controls in accordance with regulatory requirements and best practices.</li><li>Opinion on Underwriting, Pricing and Product Development: The Actuarial Function forms an opinion about the adequacy and appropriateness of the pricing and underwriting policy.</li><li>Opinion on the Reinsurance Policy and Program: The Actuarial Function forms an opinion about the compatibility of the reinsurance process with the risk profile of the company, the adequacy and effectiveness under stress of the reinsurance program.</li><li>Contribution to Risk Management: The Actuarial Function is contributing to the design, methodology, parameter and assumptions of models used to determine the technical insurance risks component.</li><li>Actuarial Function Report (AFR): The Actuarial Function is obliged to provide a report on an annual basis, the Actuarial Function Report (‘AFR’). AFR addresses explicitly potential shortcomings that may have been identified in the relevant topics, including data quality and internal processes, and gives recommendations to solve them.</li></ul>What you bring<ul><li>Qualified Actuary with significant experience in reserving/pricing roles within the insurance or reinsurance industry, preferably at a senior level.</li><li>Extensive knowledge of actuarial principles, reserving/pricing techniques, and regulatory requirements applicable to insurance liabilities.</li><li>Strong leadership and communication skills, with the ability to effectively engage and influence stakeholders at all levels of the organization.</li><li>Proven ability to lead and develop high-performing teams, foster collaboration, and drive results in a dynamic and fast-paced environment.</li><li>Advanced proficiency in actuarial modeling, statistical analysis, and data manipulation using software tools such as Excel, SAS, R, or Python.</li><li>Strategic thinking and problem-solving abilities, with a focus on delivering innovative solutions to complex reserving challenges.</li><li>Commitment to professionalism, integrity, and ethical conduct in all aspects of actuarial work.</li></ul>The Actuarial Function Holder plays a critical role in ensuring the accuracy, adequacy, and compliance of reserve estimation processes, while providing strategic leadership and guidance to support the organization's financial stability and risk management objectives. The Actuarial Function Holder at Allianz Seguros will be reporting to the Chief Actuary of the company.

About iptiQ

 

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Become a part of a growing and dynamic entrepreneurial team within the established Swiss Re Group. iptiQ is a start-up unit, established to provide innovative protection solutions directly to consumers. Our mission is to reduce the protection gap by simplifying life insurance and making it more accessible to people. We partner with leading brands across Europe to co-create specific insurance offerings for their customers. Our motto is "now life is easier for everyone"! For us this means making life insurance easier to sell, to buy and to trust.

 
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About the Role

 
Glad you’re interested! The iptiQ Life and Health Pricing team consists of 16 colleagues based across 6 locations in Europe. We have expansion plans and it’s a great time to join our growing team. As a (Senior) Pricing Actuary, based in Madrid and reporting to the Head of Pricing, you will lead technical and actuarial aspects of the relationship with distribution partners in Spain and Portugal. You will become responsible for the pricing, referral and final sign-off for existing and newly developed insurance products. You will prepare customer premium rates and ensure that the agreed rates offer great value for our customers and partners. 
 

It will also be your responsibility to prepare and maintain the pricing assumption basis for our Spanish business. You support the sales team in business performance steering and client management. Working with our tight-knit cross functional teams you will collaborate closely with various experts including Product Development, Underwriting, Claims, Finance, Operations, Valuation and Risk Management. 
 

You will be required to have in-depth knowledge of the Spanish protection market. Including awareness of the legal and regulatory framework. Additional expertise of the Portuguese protection market is an advantage. In addition, you will review and support pricing work performed by other pricing actuaries giving you opportunities to better understanding other markets across EMEA. 
 

Your main responsibilities will be to:

 
•    Deliver pricing, referral and final sign-off of Spanish and Portuguese protection products balancing commercial and customer value 
•    Contribute to product development and design with a strong focus on risk management 
•    Develop and maintain costing tools/models and pricing basis 
•    Specify and test products 
•    Monitor the existing portfolio 
•    Check customer literature and distribution contracts  
 

About You

 

We expect you to be:

 
•    A qualified Actuary with experience in Life &amp; Health pricing in the Spanish market including use of cashflow pricing models (level of experience will determine if the successful candidate is a Senior Pricing Actuary) 
•    Deeply knowledgeable about life insurance and know how to technically implement solutions and products 
•    Client centric with experience working with external clients/distributors 
•    Fluent in English and Spanish with excellent oral and written communication skills (other main European languages especially Portuguese are an advantage) 
•    Proficient in MS Excel 
•    A team player who is passionate about the success of the business 
•    Comfortable in a dynamic and fast-moving environment 
•    Able to present complex topics clearly to a variety of stakeholders 
•    Self-motivated with an ability to work under pressure 

 
You are:

 
•    Able to show integrity and consumer awareness 
•    Enthusiastic about working with international colleagues in a multi-cultural environment 
•    Comfortable balancing multiple projects and with re-prioritisation 
•    Collaborative, engaging and positive 
•    A fast learner able to grasp complex processes and projects 
•    Willing to actively engage in discussions and voice opinions 
•    Committed to quality and accuracy 
 

Programming experience in R and/or VBA is beneficial.  
 

This role is available full or part time. Flexible working is a key part of the iptiQ culture. 
 

We are an equal opportunity employer, and we value diversity at our company. Our aim is to live visible and invisible diversity – diversity of age, race, ethnicity, nationality, gender, gender identity, sexual orientation, religious beliefs, physical abilities, personalities and experiences – at all levels and in all functions and regions. We also collaborate in a flexible working environment, providing you with a compelling degree of autonomy to decide how, when and where to carry out your tasks. 
 

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process and to perform essential job functions. Please contact us to request accommodation. 
 
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Keywords:   
Reference Code: 112711 

 
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