Risk Manager for Group Actuarial Function

vor 1 Monat

Munich, Bayern, Deutschland Munich Re Vollzeit
Risk Manager for Group Actuarial Function (m/f/d)* Company Munich Re Location Munich , Germany

In our department we are responsible for the Actuarial Function of MR Group and the Group-wide risk model. Tasks of the Actuarial Function are bundled in our team and include the analysis and review of reserves under Solvency II as well as IFRS 17, conducting actuarial assessments for the Board of Management and contributing to an effective risk modelling.

In the offered position, you will be assuring the appropriateness of reserves for Life & Health business from our primary insurance carrier ERGO, with a special focus on stochastic valuation models. Thereby, you are significantly contributing to a consistent Group view in steering and reporting. The position offers the opportunity to work on relevant actuarial topics for the Group within the SII as well as IFRS17 standards in a national as well as international context and to shape the role of the actuarial function in this field.

Your job:
  • Prepare actuarial assessments of reserves, underwriting and retrocession for the Board of Management with focus on ERGO Life & Health, e.g. by performing reviews of the ERGO Life & Health entities.
  • Maintain a productive collaboration with the ERGO segment actuarial function and local actuarial functions to ensure a consistent reserving approach across MR Group.
  • Support communication and reporting to the Executive Board.
  • Further develop and implement comprehensive analyses and validations of reserves consistently under IFRS17 and SII together with the ERGO segment actuarial function.
  • Accompany the model and assumption change process for reserves in IFRS17 and SII with focus on ERGO Life & Health. Form an actuarial opinion on major changes and involve relevant stakeholders from the Group.
  • Represent the GAF in various groups and boards of Munich Re Group as well as projects, and contribute to cross-divisional topics.
  • Participate in the generation or validation of market-consistent scenarios as input to stochastic valuation models.
  • Communication to internal (e.g. board members, business units) and external stakeholders (e.g. auditors, regulators).
Your profile:
  • Excellent degree in a quantitative discipline, ideally complemented by tertiary qualifications in actuarial science, mathematical finance or risk management.
  • Several years of working experience in economic valuation in the primary life & health insurance market (e.g. in reserving or risk management).
  • In-depth understanding of Solvency II and/or IFRS17.
  • Proven experience in working in multidisciplinary projects.
  • Proficiency in Excel and coding skills in R or Python.
  • Interest in exploring and understanding new topics, ease in working out main focus points.
  • Open-mindedness to find best solution for the company in collaboration with other entities.
  • Outstanding analytical and conceptual skills and a confident manner combined with good negotiating skills.
  • Ability to resolve conflicts and a high degree of commitment in a constantly changing environment.
  • Ability to explain complex issues coherently for a target-group.
  • Experience in modelling financial instruments and respective model validation a plus.
  • Fluency in spoken and written English as well as German.
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 a 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.

Our employees are our greatest strength. That's why we offer them a wide range of benefits. You can find some examples below.

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.
  • Health management: focus on your physical and mental health far beyond legal requirements.
  • Hybrid working: living the best of both worlds - we offer you a very flexible approach as well as the opportunity to work from abroad on an occasional basis.
* Munich Re not only stands for fairness with regard to its clients; it is also an equal opportunities employer. Severely disabled candidates will also be prioritized, if equally qualified.

Münchener Rückversicherungs-Gesellschaft
Katharina Schlechter

• HR Consultant
Königinstraße 107

• 80802 München

• GERMANY

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