Actuarial Analyst

Let's care for tomorrow.
Your ambitions. Your dreams. Your tomorrow.

Whether it's aircraft, international business, offshore wind parks or Hollywood film productions, Allianz Commercial has an extensive range of risks covered when it comes to protecting businesses.

We are looking for an Actuarial Analyst (m/f/d) in Risk Modeling, based in Munich or Hamburg.

Your Team
At Allianz Commercial our Actuarial department has an in-depth understanding of the business. We work in close collaboration with other departments to protect Allianz Commercial's financial strength and drive profitability.

The Impact You Will Have
Reporting to the Head of Actuarial Function, you will be working as Actuarial Analyst in the Chief Finance Office (CFO) Actuarial Risk Modeling (ARM) department. Your primary responsibility in this role is the development, maintenance and documentation of actuarial risk models in collaboration with colleagues within the ARM team and the wider Actuarial department, including strong interaction with other functions across the whole company. The tasks include the processing of input data, preparation and updating of actuarial models and the documentation of assumptions, methodology and results. The communication of assumptions and results to internal and external stakeholders is a key aspect of the internal risk capital model activities under the Solvency II framework. Within this role, you will be able to establish strong working relationships with internal and external stakeholders, ensure a continuous appropriateness of the model and an effective use of the results for management and business steering purposes.

Some of your specific responsibilities could include:

• Promote close collaboration and interaction with the various business areas (Allianz Group, Risk Management, Underwriting, Market Management, other Finance departments, etc.) to foster mutual understanding how business developments impact actuarial drivers in the financials
• Create and run risk models including documentation, explanation and communication of results
• Be involved in various risk modeling, SII and IFRS17 related projects (e.g. model validation, TP model governance, IFRS17 implementation, Business steering, Capital Optimization, etc.)
• Develop global actuarial approaches and processes as well as enhance actuarial models and analyses
• Peer review work from other team members

What You'll Bring to the Role

• Excellent tertiary qualification (ideally Master), preferably in Mathematics, Statistics or other appropriate discipline or qualified by experience in related discipline
• Steps taken towards professional actuarial qualification (first Actuarial exams passed)
• About 1 year of experience in development/enhancement and implementation of actuarial models and processes
• Strong background in stochastic and quantitative financial and risk modeling
• Finance and Insurance know-how (ideally P&C) with regards to market dynamics, standard concepts and approaches: regulation, risk modeling, reinsurance and underwriting knowledge, reserving techniques, etc.
• Extensive computer skills (MS Office incl. VBA and relevant expert systems such as ResQ, Igloo, R, SQL or Python, etc.).
• Ability to identify patterns and root causes in complex (e.g. ambiguous, from various sources) data and processes to rapidly distill key issues and provide insight in various situations
• Good communication and influencing skills with an ability to elaborate and convey information clearly and effectively in respect to the audience
• Fluent in English, German language skills of advantage

35995 | Actuarial | Professional | Allianz Commercial | Full-Time | Permanent

What's in it for you?

Let's care about everything that makes you, you
We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.

Let's care for your financial wellbeing
We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.

Let's care for your opportunities to progress
From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

Let's care for life's twists and turns
From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back.

Let's care for our society and our planet
With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.

Care to join us?

Allianz Commercial is the Allianz Group brand serving the world's largest consumer brands and major industry players through to family-owned enterprises forming the backbone of nations' economies. We bring together the corporate multinational business of Allianz Global Corporate & Specialty and the commercial business of national Allianz Property & Casualty entities and provide both traditional and alternative risk transfer solutions, outstanding risk consulting and Multinational services as well as seamless claims handling.

As a key strategic player in the Allianz Group network, Allianz Commercial is present in over 200 countries and in 2022 generated more than €19 billion gross premium.

Learn more about careers at Allianz Commercial by clicking here.

Learn more about Allianz Commercial by clicking here.

Allianz is an equal opportunity employer, and therefore welcomes applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability, sexual orientation or any other protected characteristic. Diversity of thinking is an important part of our company culture.

People with disabilities:
We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email agcsglobalcareers@allianz.com.

Recruitment Agencies:
Allianz Commercial has an in-house recruitment team, which focuses on sourcing great candidates directly. Allianz Commercial does not accept unsolicited resumes from agency or search firm recruiters. Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired. When we do use agencies, we have a PSL in place, so please do not contact managers directly.

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