Madrid

Part Qualified

Associate

Qualified

Senior Actuary

Life

Investments

Health

Property & Casualty

Reserving

Reporting

Reinsurance

Risk

Systems

Python

Modelling

Data Science

Pricing

Machine Learning

Excel

Power BI

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!

This cross-functional expert position will interact with the individuals within the Continental Europe &amp; LATAM Business Performance teams as well as with the Finance and Markets teams and will be the integration bridge between all these teams to ensure coordination and seamless communication.The context of the market and the Forward 2026 strategic plan requires a good track of new business opportunities, some of them quite different from the traditional core nature of our portfolio as well as an excellent business in-force management.The follow up and monitoring of those is critical. To make a state-of-the-art local BA&amp;TA is key to assure that Forward 2026 strategic plan is met.Effective cross-functional coordination is essential for seamless collaboration among the different teams within the organization (closing, FP&amp;A, reserving…) to avoid duplication of effort and to ensure that all team members are working towards a common goal.ResponsibilitiesReporting to the Head of Business Performance Continental Europe &amp; LATAM, your responsibilities will be cross-functional:Closing coordination &amp; integration<ul><li>Support markets in their closing reviews and analysis by liaising with the Closing and Reserving teams to ensure adequate coordination.</li><li>Research and convey to the Finance team technical accounting issues, deviations that are identified during the closing reviews performed by Continental Europe &amp; LATAM teams.</li><li>Actively participate to the definition of the various activities to be performed to ensure the accuracy of the Continental Europe &amp; LATAM teams figures.</li><li>Create financial analysis / reports to validate actual earnings. Perform analysis to identify main drivers of variances to prior periods and to expected results.</li></ul>Plan coordination &amp; integration<ul><li>On a quarterly basis, produce figures summary with appropriate commentary on the key sources of deviation against plan for each market to support the EMEA FP&amp;A team.</li><li>Coordinate with Continental Europe &amp; LATAM and EMEA FP&amp;A teams the information needed to ensure accurate and timely delivery of the business plan figures.</li></ul>Business follow-up<ul><li>Facilitate analytical review of operational processing and output focusing on fluctuations in financial activity and operating standards.</li><li>Identify and research issues, draw conclusions, make recommendations, communicate, and summarize issues of significance.</li><li>Analyse and check technical provisions using the tools provided, share, and communicate with EMEA reserving team to ensure the plausibility (if needed).</li><li>Manage and resolve complex financial business issues and problems through research and interaction with internal departments.</li><li>Participate in ongoing process improvement efforts, identify opportunities to increase operational efficiency.</li></ul>Reporting stream<ul><li>Produce ad hoc analysis and reporting on defined perimeter for business follow-up &amp; performance. Consolidation of data and reports.</li><li>Develop a toolkit to easily produce any required split of various financials from these markets.</li></ul>Retrocession stream<ul><li>Ensure the management and accounting of specific external retrocession.</li></ul>IFRS17<ul><li>IFRS17 – Translation and explanation of the impacts of the projection modifications.</li><li>Quarterly follow-up of the IFRS17 KPI’s.</li></ul>Auditors<ul><li>Help defining the control framework for audit purposes and serves as liaison for internal and external audits requests for these markets.</li><li>Assists with internal and external audit requests as needed in a timely manner.</li></ul>Other duties<ul><li>Support the Head of Business Performance WELA with the timely communication on regular BAU activities (including ad-hoc business analysis), transformation activities as well as in the development of remaining IFRS17 solution.</li><li>Support transversal projects across the teams</li><li>Participate to ad hoc projects or workstreams as needed.</li></ul>QualificationsExperience and competencies<ul><li>From 3 to 5 years' experience in reinsurance (ideally insurance)</li><li>Strong accounting analysis and financial systems skills</li><li>Ability to identify, quantify and analyse problems, be able to relate them to the big picture: draw conclusions, recommend, and implement viable, measurables solutions.</li><li>Ability to handle priorities / projects concurrently.</li><li>Proficient PC skills in a Windows environment, including Excel, Access, Word &amp; Power Point</li><li>Have an extensive knowledge in Microsoft Office, Power BI and Business Object or SAP Web Intelligence.</li></ul>Personal competencies:<ul><li>Committed to meeting deadlines and delivering accurate results.</li><li>Attention to detail.</li><li>Excellent verbal and written communication skills; proven success communicating effectively at all levels of the organization.</li><li>Team spirit: be willing to work with other people</li><li>To be responsible, helpful, methodical, and multi-purposed.</li></ul>Required Education<ul><li>Actuarial degree</li><li>IFRS17 deep knowledge</li><li>Specialisation in data analysis would be appreciated.</li></ul>About usSCOR, the 4th largest reinsurer in the world, provides insurance companies with a diversified and innovative range of solutions and services to control and manage risk. Leveraging experience and expertise to deliver “The Art &amp; Science of Risk”, SCOR provides cutting-edge financial solutions, analytics tools and services in all areas related to risk – from Life &amp; Health and Property &amp; Casualty insurance to Investments. Our specialized teams operate in over 160 countries, fostering long-term relationships with clients.At SCOR, we believe that employing people from different backgrounds and ensuring inclusivity is a major driving force for the success of the Group. We are committed to fostering a work environment in which all employees are treated fairly and respectfully, have equal access to opportunities and resources, and can contribute fully to SCOR’s success.

We are looking for a highly motivated and versatile Pricing Analyst to join our Pricing Data Science team in the EO Insurance division of QBE.Pricing Data Science is comprised of a growing team of 30 Pricing and Data Science specialists supporting the pricing of $5 Billion of annual premium and working with Underwriters across the UK, Europe and Lloyd’s and London Markets.Our vision is to be the market leading Pricing Data Science team, working with Underwriters to deliver profitable business, investing in the development of every team member to build expertise in both insurance and data science and providing them with the tools and data that they need to excel in their roles.The Opportunity<ul><li>Work for a world leading insurer alongside experts in pricing, data science, insurance underwriting, claims, and information technology</li><li>Develop and deploy industry leading pricing and machine learning models into a $5 Billion book of business</li><li>Invest in your personal development with support to train and learn new skills</li><li>Utilise high quality data science lab environments including QBE’s Google Cloud Platform</li><li>Exposure to the London Market: the world’s largest and most complex insurance risks, and gain exposure to UK, European insurance, and Reinsurance sectors.</li><li>Competitive compensation, pension, training, and benefits.</li><li>Study support for actuarial exams and other relevant professional qualifications</li><li>Flexible working and no fixed requirement to be London based</li></ul>Your responsibilities for this role may include, but are not limited to:<ul><li>Work with the European Pricing lead and build strong relationships with underwriters across multiple product lines in our regional European offices and European Underwriting Managers</li><li>Be responsible for essential Case Pricing Interlocking with larger projects and planning vision</li><li>Fuse new data science techniques with traditional pricing methods to help form a market leading team of pricing data science professionals</li></ul>Preferred Competencies/Skills<ul><li>Knowledge and experience of working in General Insurance</li><li>Analytical and problem-solving skills</li><li>Excellent communication skills</li><li>Excellent interpersonal skills and client-focused in order to build collaborative relationships with different departments and internally</li><li>Ability to work independently and to adapt to changing priorities and timescales</li><li>Expert in Microsoft Excel</li><li>Based in Spain (Madrid or Barcelona) and willing to travel to regional European offices for business purposes (Germany, Italy &amp; Spain)</li><li>Essential: Fluent English and Spanish</li></ul>Preferred Knowledge<ul><li>Actuarial pricing experience</li><li>Fluent French and Italian speaking ability</li><li>Python, or experience with other programming languages</li><li>Demonstrable interest in modern data science models and techniques</li></ul>Why QBE?We understand that one size doesn’t fit all and that priorities can change depending on your life stage. That is why our blend of wellbeing initiatives and benefits offer flexibility to suit what matters most to you. It’s in the culture of our business, our QBE DNA, to support our people. Everything we do is underpinned by our QBE DNA - because we know it’s not just what we do that matters, it’s how we do it that makes the difference. In addition to this, we also offer flexible parental leave for both parents and have several employee network groups that support and empower our diverse workforce.At QBE, we view our people as our most precious asset. We understand the importance of fostering a work environment that is responsive to the changing needs of today's workforce. QBE aims to build a workplace that is fair and inclusive because we want to attract and retain the best people to do the job, we have adopted flexible working across the company and welcome this conversation.Some of the awards QBE are proud to have won, been a finalist for, and shortlisted for include:5-star Diversity, Equity and inclusion (DEI) awards, 2023 Winner -Insurance Business CanadaEmployer of the Year 2022 Winner– Insurance InsiderBritish Claims Awards 2022 Winner- InsurTech AwardInsurance Times Claims Excellence Awards 2022 Winner -Claims Product Solution of the YearWorking Families Best Practice Awards 2021Finalist for:Best COVID-19 ResponseInsurance Post British Insurance Awards 2022Shortlisted for: Best Customer Care, Diversity &amp; Inclusion Initiative of the Year 2022, Specialist Insurer of the Year (for Construction), General Insurer of the YearWe are proud to have partnerships with organisations such as Stonewall and Working Families, and our commitment to the Women in Finance Charter, the UN Women’s Empowerment Principles and Race at Work charter helps keep us accountable and transparentInclusion of DiversityWe are striving to create a workplace culture where all our people feel included, and we are committed to building a diverse workforce that is reflective of the communities we operate in.We know that diversity of thought, background and experience enables better decision making, improves the quality of our delivery and helps us to meet the needs of our customers.ESG &amp; SustainabilityAt QBE, we believe that integrating sustainability into our business helps us deliver on our purpose of enabling a more resilient future. Our three key focus areas include fostering an orderly and inclusive transition to a net-zero economy, enabling a sustainable and resilient workforce and partnering for growth through innovative, sustainable and impactful solutions. For further information regarding QBE’s sustainability targets, including our net-zero pledges and inclusion of diversity targets, and our award-winning impact investment initiative ‘Premiums4Good’, please visit our Sustainability homepage and read our latest Sustainability Report.About QBEWe can never really predict what’s around the corner, but at QBE we’re asking the right questions to enable a more resilient future – helping those around us build strength and embrace change to their advantage.We’re an international insurer that’s building momentum towards realizing our vision of becoming the most consistent and innovative risk partner.And our people will be at the center of our success. We’re proud to work together, and encourage each other enable resilience for our customers, our environment, our economies and our communities.With more than more than 11,000 people working across 27 countries, we’re big enough to make a real impact, but small enough to provide a friendly workplace, where people are down-to-earth, passionate and kind.We believe this is our moment – what if it was yours too?Your career at QBE — let’s make it happen!To find out more about why you should work for QBE, visit our careers website.What next?If you have a passion to contribute to QBE’s vision of enabling a more resilient future for our customers and the community, we encourage you to apply! Simply click the “apply now” button to submit your CV and other relevant documents, and a member of our friendly Talent Acquisition team will be in contact to discuss your interest further if you meet the requirements of the role.Please make the Talent Acquisition aware should there be any reasonable adjustments that may need to be made for the interview and the remainder of the recruitment process.

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