Valuation Actuary

Valuation Actuary (M/F/d)*

**Company**
Munich Re
**Location**
Munich, Germany

**Valuation Actuary (M/F/d)**

**for the central division Central Life Reserving**

Munich Re’s Central Life Reserving (CLR) unit is responsible for the reserves held in the Life and Health Reinsurance Portfolio. We empower reserving actuaries across the globe to provide relevant analytics on business and reserve developments relevant for decision making. We improve our capabilities for analyzing and understanding risks. Within this division the Global Oversight department ensures that appropriate standards are established and followed on a consistent basis across the organization, and helps to guarantee that the Group has appropriately identified and reserved for the costs and risks from the contracts that have been written.

In this role as Valuation Actuary you will be responsible for the LH Re risk model and SII reporting - working closely and jointly with other colleagues in your team and the groupwide Munich Re Integrated Risk Management (IRM). You will assess, validate and develop risk modelling approaches. You will develop and maintain our analytics and quality assurance tools, especially for the SII balance sheet and LH Re Solvency capital requirement.

**Your Job**
- Acting as a contact in CLR for the SII internal risk model, incl. development of our approaches and methodology, and maintenance of the code base, and performing reporting and analytics
- Developing an in-depth understanding of Munich Re‘s global Life and Health Business, its inherent risks and how to model and control them
- Performing validation of LH Re SII internal risk model
- Checking consistency between risk model and valuation model
- Updating and maintaining CLR guidance for the LH Re SII internal risk model
- Identifying and specifying value generating developments of our SII analytical tools for balance sheet movements
- In close collaboration with interfaces, manage the development of our SII analytical tools, e.g. setting up sprints, maintaining the project in Azure DevOps, setting up testcases, execute tests, documentation, managing compliance with internal and external regulations
- Representing CLR workstreams in Munich Re internal projects
- Supporting or performing on site valuation reviews in the international LH Re organisation

**Your Profile**
- Master's degree with a quantitative or technical background (e.g. in mathematics, physics, statistics, actuarial science)
- Professional actuarial experience in Life or Health (re)insurance
- An actuarial qualification (e.g. FSA, DAV, etc) is desirable
- Experience in risk modelling for life insurance business is a plus
- Highly dedicated, motivated and results-driven
- Working collaboratively and effectively in a dynamic international group - being good at managing interfaces and building networks
- Sound experience with statistical programming languages (e.g. MATLAB, SQL, R or Python)
- Being able to be precise where needed and pragmatic wherever reasonable
- Very good command of spoken and written English

**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.

Ryan Stewart

Human Resources

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