BASIS AND PROPOSITION DEVELOPMENT (30%)

• Support the Senior Longevity Proposition and Basis Actuary, and International Longevity Actuary, in deriving international bases for specified markets
• Support enhancements to the UK basis, proposition and market offering
• Ensure that Munich Re’s approach to pricing longevity business is appropriate, suggesting and embedding enhancements to basis processes as necessary

KEY SKILLS & EXPERIENCE:

Essential

• Relevant experience of the bulk annuity market and longevity swap pricing
• Strong analytical and modelling skills, with the ability to work independently and apply judgement
• Technically strong, with the ability to develop models in Excel, VBA, R, or other programming languages
• Able to grasp new concepts and technical issues quickly, and communicate them effectively to others
• A team player who will step up and take responsivity when required
• Good people development and training skills
• Willing to challenge the status quo
• Strong written and oral communication skills

Desirable

• Good commercial awareness
• Good understanding of DB de-risking offerings in the market.
• Longevity insurance/reinsurance experience
• Contacts with key longevity players in the market
• Good negotiation skills and ability to work under pressure

QUALIFICATIONS AND EDUCATIONAL REQUIREMENTS:

• Nearly or newly qualified actuary
• Directly relevant actuarial experience of the bulk annuity/longevity swap market, DB pensions market or longevity swap pricing

REGULATORY & CONDUCT REQUIREMENTS:

Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules

ABOUT US

You will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning
You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders
We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn
You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions
We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged
At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.
If you are excited about this role but your experience does not align perfectly with everything outlined, or you don’t meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!
All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact

KEY RESPONSIBILITIES:

• Support new business tenders both for UK and in non-UK markets
• Develop an in-depth understanding of our pricing approach and models used, such that they can support the wider team with their technical and modelling capabilities
• Assess new data (internal and external) and modelling approaches such that the Longevity team’s processes remain competitive, market appropriate and efficient across both new business and in-force activities
• Support longevity basis development both for the UK and non-UK markets
• Support UK proposition development
• Support and oversee regular in-force actuarial tasks, working with the Head of In-Force to manage our portfolio
• Supporting overall longevity strategy
• Support Head of Longevity with appropriate ad-hoc tasks as required
• Providing guidance / support / knowledge sharing to longevity team members

GENERAL DUTIES AND TASKS:

• The Longevity Actuary is primarily responsible for supporting the Senior Longevity Actuary and Head of Longevity in delivering agreed strategy, including the development of profitable new business.