Senior Internal Audit Specialist

Munich Re; Mumbai; On-site; INR 2,500,000 - 4,000,000; Full time

Job summary

Munich Re, Mumbai, seeks an experienced actuary to support Value Added New Business (VANB) growth for allocated clients and to help develop organic growth within existing treaties. You will help create profitable new reinsurance opportunities and manage client relationships, collaborating with internal teams to drive growth and profitability.

The role requires a graduate degree in a quantitative field, 5+ years of actuarial experience, and proficiency in PowerPoint/Excel.

Qualifications

• Graduate degree in a quantitative field is required.
• Fellowship or progress towards professional actuary qualification preferred.
• Minimum 5+ years of actuarial or related experience.
• Strong analytical and quantitative capabilities.
• Proficiency in PowerPoint and Excel; good data handling skills.

Responsibilities

• Support VANB growth for allocated clients and contribute to profitable new treaty opportunities.
• Manage relationships with clients and collaborate with internal teams to drive growth and profitability.
• Act as relationship manager for assigned clients and identify business development opportunities.
• Conduct workshops to understand client objectives and develop product recommendations and capital solutions.

Skills

Analytical skills

PowerPoint

Excel

Access

SQL

Independent work

Cross‑functional collaboration

Education

Graduate degree in a quantitative discipline

Fellowship towards actuaries qualification (UK IFoA/IPAO) or progress towards

Tools

Access

SQL

Job description

Location: Mumbai

Reporting to: Chief Marketing Actuary, South Asia

About Munich Re

Founded in 1880, Munich Re Group is one of the world’s leading providers of reinsurance, primary insurance and insurance‑related risk solutions.

As a leader in risk assessment, Munich Re supports the evolution of the global insurance landscape by addressing emerging risks—from cyber threats to pandemics—enabling clients to manage uncertainty effectively.

Across Asia Pacific, the Middle East and Africa, Munich Re operates life, health and non‑life reinsurance as well as primary insurance businesses, with more than 1,900 employees across 20 locations. Munich Re has supported clients in India since 1951 and established its Mumbai branch in 2017 to serve India, Sri Lanka and Bangladesh.

Role Overview

To support the growth of Value Added New Business (VANB) for allocated clients by contributing to the development of organic growth within existing treaties and supporting the creation of profitable new reinsurance opportunities.

• Enable effective portfolio management and contribute to the profitability of nominated clients’ existing treaties
• Strengthen business relationships with current and prospective clients

Your Role

• Support the development and implementation of new business opportunities for treaty clients and prospective clients, with a focus on enhancing VANB in India
• Manage relationships with specified clients and collaborate with internal teams to drive growth and profitability
• Act as a relationship manager for assigned clients, identifying business development opportunities and supporting achievement of business targets
• Support clients in new business initiatives by conducting workshops to understand business objectives and product needs; develop product recommendations and capital solutions based on structured analysis
• Manage existing business by monitoring treaty performance, profitability and risk exposure, with a focus on organic growth and improving performance of underperforming treaties
• Document reinsurance terms in quotations and treaties and support final treaty negotiations
• Communicate Munich Re’s service offerings effectively and collaborate internally to enhance client satisfaction

Your Profile

• Graduate degree in a quantitative discipline such as mathematics, statistics, science, economics or finance (essential)
• Fellowship of the Institute of Actuaries or Institute and Faculty of Actuaries (UK), or progress towards qualification, with relevant experience (preferred)
• Relevant actuarial or related experience (typically 5+ years)
• Ability to manage work independently while collaborating effectively with cross‑functional and regional stakeholders
• Strong analytical capability, including mathematical and statistical techniques
• Strong command of PowerPoint and Excel
• Knowledge of data handling and analysis tools such as Access and SQL
• Demonstrates curiosity and develops in‑depth knowledge of clients, reinsurance business, contract structures and regulatory environments
• Good understanding of products and regulations within the Indian insurance industry

At Munich Re, we embrace, and value, the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation. Of our open culture and spirit of partnership. Of how our teams are built and cultivated. Of how we are supported and developed. And at the center of this interaction is each of us.