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About the Role
Actuaries are problem solvers who use mathematical skills to measure future event probabilities and find solutions. This role offers the opportunity to grow technical skills and contribute to team performance within either the life insurance or general insurance actuarial teams.
Responsibilities
- Assess data, including claim rates across different markets for use in pricing reinsurance products and updating our view of changing trends.
- Quote on re-insurance tenders to help our company achieve its financial goals, followed by working on the execution of deals won across different product lines.
- Prepare and present analytical results to senior stakeholders, tailoring communication to your audience and highlighting key risks and opportunities.
- Help with the production of financial projections and liability valuations for internal profit and capital reporting.
- Draft written reports, documentation, and presentations for use both internally within the company and with global offices.
- Contribute to the teams' ongoing aim to improve processes.
- Construct a meaningful branch-wide network of contacts.
- Take on responsibilities such as participating in the DEI council or acting as a student coordinator or study mentor.
- Ensure compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.
Requirements
- Nimble learning: actively learn by tackling new problems and trying out new solutions, quickly learning from both successes and failures.
- Collaborates: work together with others in your team, the department and wider business to meet shared commitments.
- Optimises work processes: know the most effective and efficient processes to get things done and are constantly assessing how they can be improved.
- Resourcefulness: find a way to get things done with the best use of the resources available, knowing when to ask for support from others, but also offering your support to others where your expertise, knowledge and skills can add value.
- Effective and Flexible Communication: communicate clearly and appropriately with your audience, share ideas, learn from others and keep stakeholders informed about progress, problems, opportunities and solutions, soliciting feedback.
- Inclusive Mindset: demonstrated commitment to valuing diversity and contributing to an inclusive working and learning environment.
- Numerical and analytical skills with the ability to apply judgement.
- Skilled at communicating with a broad range of audiences.
- Collaborative team player who enjoys working in an open, inclusive structure.
- Organisational skills to meet targets and manage expectations.
- Curious & Adaptable.
Skills
- Mathematical skills
- Pricing risk
- Predictive analysis
- Digital innovation
- Analytical skills
- Communication skills
- Organizational skills
Location
- London
Work Type
- Full-time
Experience Level
- Graduate
Education Level
- Minimum 2:1 degree in a numerate subject area such as STEM, Finance, Economics, Statistics, or a related discipline.
- At least a grade A in one numerical subject at A level (or equivalent qualification).
Salary/Compensations
- Great compensation package
- Annual target-based bonus
Benefits
- Assistance throughout your actuarial qualification
- Pension contribution
- Insurance coverage (life and private medical)
- Leisure scheme
- Employee discount scheme across major retailers
- Vehicle scheme
- Payment for Institute and Faculty of Actuaries membership fees
- Payment for actuarial study material, tutorials and exam fees
- Study leave policy for actuarial exams
- Support through the actuarial examinations including Mentors, Mental Health First Aiders, Personal Development Courses
About the Company
- UK Life Branch forms the Life 1 division of Munich Re, operating in the competitive UK life market.
- Great Lakes Insurance SE is a specialty provider of primary insurance services in the UK, operating from Munich with branches globally.
- Great Lakes Insurance UK Limited is a fully owned subsidiary of Great Lakes Insurance SE and acts as the preferred facilitator of agency insurance business in the UK.
Equal Opportunity
- At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better.
- Embracing the power of DEI is at the core of who we are.
- 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.
- All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process.