Senior Actuarial Associate, IL Pricing

Munich Re; New York (NY); On-site; USD 137,000 - 160,000; Full time

Job summary

An established industry player in reinsurance is seeking a Senior Actuarial Associate to support their Individual Life business. This role involves pricing new opportunities, managing inforce business, and conducting market research. The ideal candidate will have a strong actuarial background, with at least 3 years of experience in the life insurance sector and relevant qualifications. This innovative firm values diversity and inclusion, providing a collaborative environment that empowers employees to excel. If you're passionate about actuarial science and looking to make a significant impact, this opportunity is 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 Plans

Qualifications

• 3+ years actuarial experience in life insurance/reinsurance.
• ASA designation with progress towards FSA.

Responsibilities

• Price new opportunities and manage client initiatives.
• Review existing business for profitability drivers.

Skills

Actuarial Analysis

Risk Management

Communication Skills

Market Research

Model Building

Profitability Analysis

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

AXIS

Microsoft Excel

SQL

Job description

The Senior Actuarial Associate supports the Individual Life business function in pricing new opportunities, reviewing models and assumptions, managing inforce business, and conducting market research.

Your Job

Pricing new opportunities

• Manage client initiatives to understand key risks and set appropriate prices
• Build models to analyze profitability of potential deals
• Summarize results and communicate to Senior Management
• Review models built by others

Managing Inforce Business

• Review existing business to understand drivers of profitability

Reviewing Models and Assumptions

• Maintain model templates and develop tools to improve efficiency
• Perform analysis of actuarial assumption updates

Conducting Market Research

• Perform research on market trends among clients and competitors

Your Profile

• Bachelor’s degree in Finance, Economics, Risk Management, Mathematics, Accounting
• 3+ years actuarial employment in the life insurance/reinsurance industry
• ASA designation with progress towards FSA
• Life insurance or reinsurance knowledge preferred
• Insurance or reinsurance pricing knowledge preferred
• Ability to learn how to efficiently use various software packages (AXIS for pricing, Microsoft Excel, SQL).
• Ability to communicate output/results effectively
  
• 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 $ 137,446 - $159,148 , 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.