Impress employers and recruiters.
Choose from hundreds of resume examples.

Impress employers and recruiters.
Choose from hundreds of resume examples.

Target Resume Now

About the Role

The Risk Review Actuary works in the UK Risk Management team to strengthen the UK Branch and broader LH1 Region’s Actuarial and Enterprise Risk Management capabilities, balancing risk and commercial considerations. This role also supports the production of Regulatory Reports required by the PRA and FCA.

Responsibilities

• Review large and complex transactions for financial, operational, legal, and reputational risk, providing risk sign-off.
• Offer impartial advice and challenge to the UK CEO and senior stakeholders.
• Review changes to pricing bases, product designs, and pricing tools.
• Collaborate on projects, reviews, and reporting with the wider LH1 Risk Management team.
• Develop and report on the strategic risk outlook for the LH1 Region.
• Contribute to the UK Branch annual ORSA process.
• Liaise with UK regulatory bodies to build credible and collaborative relationships.
• Ensure compliance with Munich Re’s Code of Conduct and FCA Conduct Rules.
• Provide risk reporting to UK CRO, UK ExCo, LH1 Management, and Munich central functions.
• Monitor and report on the run-off Non-Life book of business.
• Deliver the operational risk management framework.
• Review and assess market, credit, reputation, concentration, liquidity, and strategic risks.
• Engage in internal business governance within the UK Branch.
• Support the UK Branch in writing and maintaining profitable commercial business and innovation initiatives.
• Promote Risk Management principles and develop the UK Branch risk strategy.
• Communicate and raise awareness of Risk Management within the UK Branch and region.
• Develop the UK Branch risk strategy and appetite, including product limits.
• Represent risk management in special initiatives, offering guidance and challenge.
• Maintain and improve the UK Branch risk management framework, policies, culture, and processes.
• Act as a point of reference for business guidelines and control processes.
• Seek efficiencies in the Risk Management process to enable business growth.
• Provide guidance and mentoring to junior members of the Risk Management team.

Requirements

• At least basic knowledge and experience of Actuarial and Enterprise Risk Management methodologies and frameworks.
• Life pricing experience, particularly in Protection, Longevity, and Structured Re deal pricing.
• Confidence and diplomacy to challenge peers and manage upwards.
• Effectively deal with senior stakeholders.
• Ability to build an understanding of internal and external client strategy and needs.
• Experience delivering projects.

Skills

• Actuarial and Enterprise Risk Management methodologies and frameworks
• Life pricing experience (Protection, Longevity, Structured Re deal pricing)
• Challenging peers and managing upwards
• Dealing with senior stakeholders
• Understanding client strategy and needs
• Project delivery
• UK insurance market experience (reinsurance, risk management, or consulting)
• UK protection market experience
• UK regulatory risk and capital reporting requirements
• Solvency II Standard Formula and Internal Model methodologies

Location

• Munich

Work Type

• Full-time

Experience Level

• Expert in field
• Role model/mentor

Education Level

• University graduate or equivalent
• Qualified actuary
• Postgraduate qualification in insurance or risk management (e.g. CERA) (Desirable)

Salary/Compensations

• Great compensation package
• On target bonus

Benefits

• 25 days annual leave with the option to purchase more
• Private medical insurance
• Employers' contributory pension of 10%

About the Company

• Munich Re's UK Life Branch operates in the competitive UK life market, focusing on protection, longevity, and reinsurance structuring.
• The company provides clients with financial strength, global expertise, and sharp pricing.
• Munich Re fosters an environment where big thinking, continuous change, and ambition are encouraged.
• The company emphasizes empathy, leadership development, clear and authentic communication, and a positive, humble spirit.
• Employees are supported to grow with clients, embrace new ways of working, and utilize digitalization.
• Munich Re values teamwork, winning, growing together, and creating an inclusive environment that celebrates diverse thoughts, generations, cultures, and experiences.

Equal Opportunity

• Munich Re is an equal opportunity employer.
• We celebrate diversity and are committed to creating an inclusive environment for all employees.