Manager & Actuary, Individual Life and Longevity Pricing

Munich Re; New York (NY); On-site; USD 178,000 - 198,000; Full time

Job summary

Join a forward-thinking company as a Manager & Actuary in the Individual Life and Longevity Pricing division. This role is pivotal in pricing new reinsurance transactions and requires strong technical expertise in life insurance and annuities. You will collaborate with marketing actuaries and other teams to evaluate opportunities and present pricing results to stakeholders. The position offers a chance to lead special projects and refine pricing tools, ensuring your contributions directly impact business performance. If you're passionate about actuarial science and thrive in a collaborative environment, this is the opportunity for you.

Benefits

PTO and Family Leave

Retirement Savings Plans

Dental and Vision Plans

Life and Disability insurance

Employee Assistance Program

Adoption Assistance

Wellness Programs

FSA and HSA Plans

Hospital Indemnity Plans

Critical Illness and Accident Plans

Qualifications

• 6-10 years of actuarial experience in life insurance/reinsurance.
• Ability to conceptualize and implement business solutions.

Responsibilities

• Evaluate reinsurance opportunities and pricing.
• Monitor profitability and improve pricing processes.

Skills

Actuarial expertise

Pricing and product development

Communication skills

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

Manager & Actuary, Individual Life and Longevity Pricing

This position will play a significant role in pricing new reinsurance transactions in our fast growing individual life and longevity division. Specifically, you will be responsible for evaluating reinsurance opportunities as well as building a strong pricing infrastructure;

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

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

• Lead the pricing and analysis in more technical and complicated projects, ex. mortality table and improvement development

Your Profile

• Bachelor’s degree in Finance, Economics, Risk Management, Mathematics, Accounting
• 6-10 years Actuarial employment in the life insurance/reinsurance industry
• Pricing and product development experience preferred
• Experience working with a 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.
  
• PTO and Family Leave
• Retirement Savings Plans
• Dental and Vision Plans
• Life and Disability insurance
• Employee Assistance Program
• Adoption Assistance
• Wellness Programs - Calm, WW, SoFI, Virgin Pulse
• FSA and HSA Plans
• Hospital Indemnity, Critical Illness and Accident Plans

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.

As 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, we enable fundamental change. We recognize Diversity, Inclusion, and Belonging as a key priority with a culture that welcomes different thoughts and opinions. We dare to think big and are continuously innovating on behalf of our clients.

For New York City based employees, thebase salary range anticipated for this position is $178,899 - $197,731, 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.