Reserving Actuary

Munich Re; London; On-site; GBP 60,000 - 90,000; Full time

Job summary

A leading insurance provider in London seeks a Reserving Actuary to join their team. The successful candidate will lead reserving processes, collaborate globally, and communicate results to stakeholders. A strong mathematical background and actuarial qualifications are essential for this role, which supports a culture of curiosity and innovation.

Benefits

25 days Annual Leave + Bank Holidays

10% Non-contributory Pension

Eligibility for an Annual Bonus

Private Medical + Dental Insurance

Critical illness insurance + Life Assurance + Permanent Health Insurance

Wellbeing and Development Scheme + EAP + Health Assessments

Electric Vehicle Salary Sacrifice Scheme

Study & continuing Professional Development Support

Qualifications

• Mathematical or actuarial background essential.
• Good working knowledge of Excel and databases.
• Ability to understand and explain key actuarial processes.

Responsibilities

• Lead development and implementation of reserving processes for MRSG business.
• Support quarterly reserving processes for Syndicate business.
• Present results and insights to stakeholders regarding reserving outcomes.

Skills

Mathematics

Excel

Understanding of Actuarial processes

Education

University Degree in a quantitative field

Qualified actuary (FIA or equivalent) or qualified by experience

Job description

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptablestrategy, superior products and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.
Please see our website for more information.

Reserving Actuary

We are looking for a Reserving Actuary to join our team on a full time basis in our London City office. You will perform a broad range of actuarial work within the Reserving and Reporting function, in particular leading on the first lining reserving responsibilities MRSG and liaising with the actuarial community working across global teams.

Responsibilities

• Lead the development and implementation of reserving processes and systems for first line reserving of MRSG business written on a number of legal entities within the Group.
• Lead quarterly reserving processes for MRSG business by reconciling data sets, analysing and producing reserving results, including reviewing results produced by other members of the team.
• Support the quarterly Best Estimate and Syndicate reserving processes for Syndicate business written via Lloyd’s platform, including leading reserving meetings and preparing information for the Reserving Committee.
• Monitor claims experience using actual versus expected analysis, and document the results for review.
• Carry out deep dives on key reserving uncertainties and reserving classes. Communicate results to key stakeholders.
• Present results to a variety of stakeholders to provide insight and recommendations on reserving and performance related results. This will be include liaising with the actuarial community and working across global teams under GSI4.
• Work collaboratively and proactively engage relevant stakeholders, e.g. support reporting teams on key drivers of reserving movements, etc.
• Build knowledge of actuarial reserving through on-the-job learning and structured training, and assist in the same for analysts;
• Assist as required with wider reserving tasks such as the annual reserve report, benchmarking exercises and deep-dive reserving investigations; and
• Contribute to other Reporting and Reserving tasks as needed.
• Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.

Knowledge and Skills

• Mathematics or Actuarial Background
• Good working knowledge of Excel and databases
• Able to understand and explain key Actuarial processes

Education and Professional Qualifications

• University Degree in a quantitative field such as Mathematics, Actuarial Science or Statistics.
• Qualified actuary (FIA or equivalent) or qualified by experience.

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!

Diversity, Equity & Inclusion
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.

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.

Learning and innovating today, striving for sustainable societies and business tomorrow

At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.
Learn more about sustainability at Munich Re – choose your impact!

• 25 days Annual Leave + Bank Holidays
• 10% Non-contributory Pension
• Eligibility for an Annual Bonus
• Private Medical + Dental Insurance
• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & continuing Professional Development Support