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About the Role

The Global Longevity Actuary supports Munich Re's international longevity expansion ambitions within the Global Longevity Development (“GLD”) team by contributing to market assessments, basis development and transaction support activities across global markets that are outside Munich Re's established longevity business. Working closely with the Head of Global Longevity Development, Global Longevity Development Strategy Lead, Global Longevity Development Pricing Lead and local Munich Re offices, the role takes ownership of defined analytical, technical and project activities, exercising actuarial judgement and providing constructive challenge across the GLD team. The role offers exposure to market development, pricing, basis development and transaction support activities, helping Munich Re identify, assess and develop emerging longevity opportunities globally. The role contributes to both strategic and technical activities across the GLD team, delivering defined pieces of work with an increasing degree of independence, as well as contributing to activities across the wider Longevity team where required. This is a great opportunity for a technically strong and ambitious individual to join a highly successful, friendly and growing team in an exciting, challenging and rewarding environment.

Responsibilities

Contribute to the delivery of Munich Re's international longevity market development strategy.
Own defined elements of market assessments and opportunity evaluations across international longevity markets, making recommendations to senior members of the team.
Develop market-testing assumptions and exploratory bases for emerging longevity opportunities, with oversight from the GLD Pricing Lead.
Take responsibility for defined components of pricing analyses, transaction support and technical assessments.
Develop, maintain and enhance pricing tools, analytical frameworks and supporting documentation for international markets.
Prepare market-entry assessments, business cases and strategic recommendations.
Maintain the international longevity opportunity pipeline and associated reporting, in support of the GLD Strategy Lead.
Coordinate elements of client, broker and local-office engagement activity through preparation of presentations and analysis.
Monitor and assess competitor activity, client developments and market developments relevant to international longevity opportunities.
Review and challenge analysis produced by colleagues, providing constructive feedback and supporting the development of more junior team members.
Contribute to knowledge sharing, research and development activities across the Longevity function.

Requirements

Experience in actuarial work within life insurance, pensions or reinsurance.
Strong analytical and problem-solving skills, with the ability to exercise judgement and operate with a high degree of independence.
Ability to communicate technical information clearly.
Strong Excel and actuarial modelling skills.
Ability to take ownership of defined activities, manage competing priorities and deliver accurate work to agreed timescales.
Proactive and collaborative working style.
Interest in longevity, pensions de-risking and international market development.
Strong written and verbal communication skills.
Exposure to longevity, annuity or pension risk-transfer markets.
Experience supporting pricing or basis development work.
Experience preparing presentations, reports or business cases.
Interest in international markets and market development.
Experience using actuarial modelling and analytical tools.
Nearly or newly qualified actuary.
Directly relevant actuarial experience within longevity, annuities, pensions or life reinsurance.
Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.

Skills

Actuarial modelling
Excel
Analytical
Problem-solving
Communication (written and verbal)
Client focus
Innovation
Collaboration
Results-driven
Business insight
Courage
Persuasion

Location

Munich

Work Type

Full-time

Experience Level

Nearly or newly qualified actuary
Directly relevant actuarial experience

Education Level

Nearly or newly qualified actuary

Benefits

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

About the Company

With the office in Munich, it forms the Life 1 division of Munich Re. The UK life market is one of the, if not the, most competitive life markets in the world. We understand that Life insurers work in a dynamic market where medical progress, demographic trends and changing lifestyles are constantly giving rise to new risk landscapes. This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition. So we need a smart strategy and structure in order to succeed.
At UK & Ireland Life we have three pillars to our business strategy, protection, longevity and reinsurance structuring. All three are key to the success of our business so it’s important to look at the big picture. In terms of clients, we trust them as experts of their business and provide them with the financial strength of the world’s largest reinsurer, global expertise and sharp pricing so that they are both competitive and profitable.
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.

Equal Opportunity

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.