Director & Actuary, Individual Life and Longevity Pricing

Munich Re; New York (NY); On-site; USD 176,000 - 247,000; Full time

Job summary

An established industry player is seeking a Director & Actuary to drive pricing strategies in the individual life and longevity division. This pivotal role involves evaluating reinsurance transactions, collaborating with diverse teams, and leading special projects that enhance business development. The ideal candidate will possess extensive actuarial experience, strong communication skills, and a passion for implementing innovative solutions. Join a company that values diversity and fosters an inclusive culture, where your expertise will contribute to shaping the future of reinsurance. This is a unique opportunity to make a significant impact in a rapidly evolving sector.

Qualifications

• 7+ years of actuarial experience in life insurance/reinsurance required.
• Strong communication and presentation skills are essential.
• Ability to implement business solutions for actuarial issues.

Responsibilities

• Evaluate reinsurance opportunities and collaborate on pricing strategies.
• Monitor profitability and refine pricing tools for new business.
• Lead technical projects and support business development activities.

Skills

Actuarial Expertise

Communication Skills

Modeling Software Proficiency

Business Solutions Implementation

Technical Proficiency

Education

Bachelor’s degree in Finance

Bachelor’s degree in Economics

Bachelor’s degree in Risk Management

Bachelor’s degree in Mathematics

Bachelor’s degree in Accounting

Tools

Modeling Software

Job description

Director & Actuary, Individual Life and Longevity Pricing

This position will play a significant role in evaluating and pricing new reinsurance transactions in our fast growing individual life and longevity division. Specifically, you will be responsible for evaluating reinsurance opportunities, collaborating internally and externally to establish new partnerships, and helping manage a growing book of multi-line business;

This position requires substantial technical expertise and developing knowledge of individual life insurance and annuities.

Your Job

Transaction Pricing - work closely with marketing actuaries and head of pricing to evaluate reinsurance opportunities which may include traditional reinsurance, pension risk transfer, merger & acquisition, inforce block transactions, insurtech partnerships, and product development. Specific tasks performed may include:

• Evaluating RFP material, product information, underwriting processes to establish assumptions and models for reinsurance pricing;
• Collaborating with other teams such as biometrics, analytics, and underwriting to achieve a deep understanding of key biometric risks;
• Presenting pricing results to key stakeholders including marketing actuary, head of pricing, risk management, and senior management to receive support for transactions;
• In certain transactions, the pricing actuary is also responsible for working with Munich Re’s global functions to establish appropriate off-shore reinsurance solutions;

Business Management

• Pricing process improvements thru the continual refinement of tools and templates used in the support of new business pricing;
• Monitor profitability and business performance to create feedback loop for future pricing;

Special Projects

• Support business development activities in preparing material to demonstrate Munich Re’s leading edge expertise in various topics and partnerships;
• Lead the pricing and analysis in more technical and complicated projects, ex. mortality table and improvement development, client value prop development;

Your Profile

• Bachelor’s degree in Finance, Economics, Risk Management, Mathematics, Accounting;
• 7+ years Actuarial employment in the life insurance/reinsurance industry;
• Pricing and product development experience preferred;
• Experience working with modeling software and interpreting results;
• Excellent communication and presentation skills;
• Ability to conceptualize and implement business solutions regarding actuarial issues;
• Technical proficiency – with the ability and interest to learn new skills and successfully transfer existing skills to others in the group;

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.

Together, we engage with everything we have and are, to help humankind act braver and better.

For New York City based employees, the base salary range anticipated for this position is $176,532 to $246,585, plus an opportunity for an annual company bonus based upon a percentage of eligible pay.

The salary estimate displayed represents the typical salary range for candidates hired in this position. Factors that may be used to determine your actual salary include your specific skills, how many years of experience you have and comparison to other employees already in this role.

Please note that only candidates who are selected for interview will be contacted directly. We thank all candidates for their interest.