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About the Role
Munich Re Life US is seeking client-focused individuals for its rotational program to join a team that will lead them on the path towards a successful career in the insurance space. The Actuarial Assistant program is designed to provide a strong foundation in the field, enabling enhancement of technical skills while gaining a holistic perspective of the business.
Responsibilities
- Assist with the completion of experience studies and quote reviews for Life, Longevity, and Long Term Care lines of business.
- Use experience studies to analyze mortality and persistency trends within the life insurance industry.
- Conduct research of key trends within the US general population.
- Provide expertise and set assumptions for calculating policy liabilities for the US Life & Health business.
- Build and manage complex actuarial models.
- Learn the details of current and upcoming regulations.
- Perform analysis of the business.
- Work closely with other departments to invent creative solutions.
- Develop innovative solutions and evaluate product profitability.
- Understand key drivers in profitability due to changes in assumptions, reinsurance agreements, industry trends, and product design.
- Work on high-impact projects including developing client strategies, building complex actuarial models, reporting key profit metrics, performing market research, and quoting on special business.
Requirements
- Bachelor’s or Master’s degree in Actuarial Science, Math, Statistics, Risk Management, or equivalent program with healthy academic standing.
- Completion of at least two actuarial exams with demonstrated progress towards ASA designation.
- At least one relevant internship or co-op work term.
- Excellent communication skills – spoken & written, formal/informal presentation.
- Demonstrated ability to create and manage positive professional relationships with good client service acumen.
- Proven capability to multi-task and successfully self-manage multiple priorities and projects of various significance.
- Solid organizational skills and rigorous attention to detail/accuracy in a fast-paced environment.
- Demonstrates leadership qualities – clear-thinking, curiosity, integrity, and drive.
- Proficient in Microsoft Excel, Access, and Word.
Skills
- Programming skills (such as, but not limited to: Python, Java, VBA, C/C++/C#)
- Familiarity with GGY Axis
- Experience with actuarial/financial modeling
- Knowledge of the life insurance industry and products
Location
- New York, NY
- Greater New York area
Work Type
- Hybrid working model (at least 3 days a week in office)
- Permanent
- Entry-level
Experience Level
- New Grad
- Entry-level
Education Level
- Bachelor's degree
- Master's degree
Salary/Compensations
- $86,000 - $115,000
Benefits
- Two options for health insurance plan (PPO or High Deductible)
- Prescription drug coverage
- Vision and dental insurance plans
- Basic life insurance equal to 1x annual salary
- AD&D coverage equal to 1x annual salary
- Short and Long-Term Disability coverage
- Supplemental Life and AD&D plans
- Voluntary Benefit plans (Accident, Critical Illness and Hospital Indemnity)
- Robust 401k plan with up to a 6% employer match
- Comprehensive Actuarial Student Program offering paid study time, exam fee reimbursement, study resources, and rewards for achieving exam milestones
- 24 days paid time off annually
- Eligibility to receive a yearly bonus
- Health and wellness programs
- Gym fitness reimbursement
- Paid time off for eligible family care needs
- Corporate matching gifts program
- Paid time off to volunteer in your community
- Company bonus based upon a percentage of eligible pay
- Employee wellness program
- Life and disability insurance
- 401k match
- Retirement savings plan
- Paid holidays
- Paid time off (PTO)
About the Company
- Munich Re is the world’s leading reinsurance company with more than 40,000 employees in over 50 locations around the globe.
- Munich Re introduces a paradigm shift in the way you think about insurance by turning uncertainty into manageable risk, enabling fundamental change.
- Recognizes Diversity, Equity, and Inclusion as a key priority with a culture that welcomes different thoughts and opinions.
- Dares to think big and is continuously innovating on behalf of clients.
- Data, technology, and teams place Munich Re in a unique position to drive transformative change in the life insurance industry.
- Invests strategically in world-class talent, offering employees a work experience that promotes professional development, innovation, and rewards high performance.
Equal Opportunity
- At Munich Re US, we see Diversity and Inclusion as a solution to the challenges and opportunities all around us.
- Our goal is to foster an inclusive culture and build a workforce that reflects the customers we serve and the communities in which we live and work.
- We strive to provide a workplace where all of our colleagues feel respected, valued and empowered to achieve their very best every day.
- We recruit and develop talent with a focus on providing our customers the most innovative products and services.
- We are an equal opportunity employer.
- Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.