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About the Role

As a member of the Longevity Pricing team, you will support Pricing Leads in delivering team objectives. You will also provide technical expertise, guidance, and work-checking for junior team members. The team is responsible for Longevity quotes, deal execution input, inforce treaty monitoring, basis development support, and infrastructure/tools improvement.

Responsibilities

• Act as a key technical expert in Pricing and Biometric elements, developing specialized knowledge for Longevity reinsurance pricing.
• Represent the team and communicate results to senior management and other departments.
• Review team-produced work for quotes and projects, ensuring data accuracy, experience analysis production, appropriate Pricing assumption setting, and supporting commercial term negotiation.
• Understand the financial implications of decisions across all relevant metrics, balancing commercial needs with risk.
• Develop relationships with the commercial Longevity team and build a broad network of contacts within the branch.
• Support the training and development of junior Pricing team members, providing constructive feedback.
• Contribute to team efficiency by proposing and supporting improvements to Pricing tools and processes, and adopting new technology.
• Support the development and review of the Longevity basis and assumptions.
• Provide support for the development of new Longevity propositions and assist the commercial Longevity team with their activities.
• Participate in team discussions on non-technical topics, including people and culture, and engage in branch-wide programs.

Requirements

• Relevant knowledge or experience of the UK life insurance market or relevant pensions knowledge.
• Knowledge of Pricing processes, including experience analysis production/analysis, assumptions setting, and modeling methodology.
• Ability to quickly grasp new concepts and technical issues.
• Strong analytical skills and the ability to make sound judgments in uncertain situations.
• Ability to communicate technical concepts effectively to colleagues with varying levels of knowledge.
• Confidence to challenge peers and manage upwards.
• Effectiveness in dealing with stakeholders from diverse technical backgrounds and seniority levels.
• Compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.

Skills

• Pricing
• Biometrics
• Reinsurance pricing
• Microsoft Excel
• Microsoft Word
• R
• Python
• Basic VBA
• Power BI (desirable)

Location

• London

Work Type

• Full-time

Experience Level

• Senior

Education Level

• Newly or nearly qualified Actuary

Salary/Compensations

• On target bonus
• 25 days annual leave with the option to purchase more
• Private medical insurance
• Employers' contributory pension of 10%
• Fully paid 6 months family leave

Benefits

• Great compensation package
• On target bonus
• 25 days annual leave with the option to purchase more
• Private medical insurance
• Employers' contributory pension of 10%
• Fully paid 6 months family leave

About the Company

• Munich Re is the world's largest reinsurer, providing financial strength, global expertise, and sharp pricing to life insurers.
• The UK Life Branch operates in a highly competitive market, understanding the dynamic nature of risk landscapes influenced by medical progress, demographic trends, and lifestyle changes.
• UK & Ireland Life's business strategy is built on three pillars: protection, longevity, and reinsurance structuring.

Equal Opportunity

• Munich Re embraces the power of differences, believing diversity fosters resilience and innovation.
• The company aims to build a diverse workforce across various identities, backgrounds, abilities, ages, experiences, and beliefs.
• Munich Re is committed to creating an equitable and inclusive work environment where diversity is celebrated, valued, and provided with equitable opportunities to succeed.
• Candidates are encouraged to apply even if their experience does not align perfectly with all requirements.
• Reasonable adjustments can be requested at any point during the recruitment process.