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Valuation Actuary (m/f/d)*

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Munich Re

20d ago

  • Job
    Full-time
    Mid & Senior Level
  • Munich

AI generated summary

  • You need a quantitative degree, actuarial qualification, 3-5 years' experience, knowledge of IFRS17/Solvency II, strong analytical skills, and teamwork ability. English fluency is essential; German is a plus.
  • You will support actuarial functions, enhance IFRS valuations, ensure data accuracy, conduct analyses, automate processes, and collaborate on financial reporting and improvements.

Requirements

  • University degree with quantitative focus (e.g. mathematics, actuarial science, accounting or economics)
  • Qualified Actuary or Candidate of a recognized Actuarial Association
  • At least 3-5 years’ professional experience in life/health or non-life insurance or reinsurance (an experience in valuation/reporting is desirable)
  • Excellent knowledge of IFRS17 and Solvency II, IFRS 9 knowledge beneficial
  • Good knowledge of Insurance Technical Accounting (P&L, Balance Sheet, Quarterly and Annual closing process)
  • Excellent analytical and conceptual skills
  • Interpersonal and presentation skills (ability to deal with senior actuarial staff and ability to explain technical concepts to MRoM management)
  • Exposure to project work in actuarial or accounting area
  • Team player and willingness to collaborate cross-functional with Actuarial and Accounting colleagues
  • Very good command of English, good command of German beneficial

Responsibilities

  • Supporting the Actuarial Function Holder of our subsidiary Munich Re of Malta p.l.c. (MRoM) according to Solvency II regulations and their Finance team in actuarial-related topics, tasks and projects related to data validation and correction, developing ad-hoc analysis, and participating in process improvements.
  • Supporting the CLR IFRS Operations and Analytics (O&A) team with quarterly valuation activities and cross-functional initiatives geared towards the optimization of consistent reserving processes and reporting tools across LH RI.
  • Contribute to Quality Assurance for IFRS 17 and SII quarterly closing of our Life&Health and Non-Life portfolios
  • Support in the preparation of the IFRS 17 quarterly presentations for MRoM
  • Support review/update of the 'actuarial' chapters in the Solvency and Financial Condition Report (SFCR) and in annual IFRS financial statements, including responding to assigned actuarial queries from external auditors
  • Support the quarterly financial close process, including the reconciliation of Group vs. Local reporting figures
  • Supporting the MRoM U/W team in view of actuarial/accounting issues prior to the conclusion of contracts
  • Investigate and develop supporting analysis on data validations and correction processes
  • Support the exchange with other business units on process improvements related to IFRS 17 cash flows and critical valuation assumptions
  • Support orchestration, central processing and quality assurance of quarterly closing and forecast data from international business units for Group and Local IFRS17 reporting
  • Develop a deep understanding of our standardized input data model, calculation approaches and output validation tools to ensure functional accuracy and alignment with methodological guidance
  • Facilitate development and maintenance of our reference calculators and reporting tools to enable consistent analysis, results consolidation and reliable explanations
  • Contribute to management presentations with impactful analysis, drawing actionable insights from underlying data (actuarial and accounting), quarterly results, and projected trends
  • Automate and digitize end-to-end IFRS processes, interfaces, workflows and controls
  • Solve problems and learn about LH RI business, while building technical skills in Python, PowerBI, Databricks and more

FAQs

What is the job title for this position?

The job title for this position is Valuation Actuary (m/f/d).

Where is the location of the job?

The job is located in Munich, Germany.

What team will the successful applicant be part of?

The successful applicant will be part of Munich Re’s Central Life Reserving (CLR) Global Oversight team.

What is the main objective for the department over the next few years?

The main objective for the department is the further development and automation of the valuation processes, analysis, and reporting.

What specific focus areas will this role entail?

This role will focus on supporting the Actuarial Function Holder of Munich Re of Malta p.l.c., providing quarterly valuation support for the CLR IFRS Operations and Analytics team, and contributing to process improvements across various teams.

What qualifications are required for this position?

A university degree with a quantitative focus, qualification as an actuary or candidate of a recognized actuarial association, and at least 3-5 years of professional experience in the insurance or reinsurance sector are required.

What knowledge should the candidate have regarding accounting standards?

Candidates should have excellent knowledge of IFRS 17 and Solvency II, with knowledge of IFRS 9 being beneficial.

What skills are emphasized for this role?

Excellent analytical and conceptual skills, interpersonal and presentation skills, and the ability to work collaboratively across functions are emphasized for this role.

Is proficiency in languages required for this position?

A very good command of English is required, and a good command of German is beneficial.

How can interested applicants apply for this position?

Interested applicants can apply through the online portal and upload their CV and relevant academic and professional reference letters.

Does Munich Re support diversity and inclusion?

Yes, Munich Re embraces diversity and believes it fosters innovation and resilience.

What opportunities for career growth does Munich Re offer?

Munich Re actively supports career mobility and offers a wealth of career growth opportunities through its global and regional presence.

What kind of work-life balance initiatives does Munich Re have?

Munich Re promotes compatibility of family and work along with overall work-life balance initiatives.

Are there benefits related to health management?

Yes, Munich Re focuses on both physical and mental health beyond legal requirements.

Can employees work from abroad?

Yes, Munich Re offers a flexible approach to hybrid working, which includes the opportunity to work from abroad on an occasional basis.

What is Munich Re's stance on fairness and equal opportunities?

Munich Re is committed to being an equal opportunities employer and prioritizes severely disabled candidates if equally qualified.

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Munich Re

Pushing the boundaries of insurability to help the world advance with confidence.

Finance
Industry
10,001+
Employees

Mission & Purpose

Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the capital investment company MEAG. We are globally active and operate in all lines of the insurance business. Since our founding in 1880, we’ve been known for our unrivaled risk-related expertise and sound financial position. We offer customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake to the 2017 Atlantic hurricane season. We possess outstanding innovative strength, which enables us to also provide coverage for extraordinary risks such as rocket launches, renewable energies, cyber attacks, or pandemics. We’re also playing a key role in driving forward the digital transformation of the insurance industry, and in doing so have further expanded our ability to assess risks and the range of services that we offer. Our tailor-made solutions and close proximity to our customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals. Our corporate culture is defined by performance, mutual respect and trust. All this makes us an attractive employer providing global career development opportunities and prospects.