Basis and proposition development (30%):

• Support the Senior Longevity Proposition and Basis Actuary, and International Longevity Actuary, in deriving international bases for specified markets
• Support enhancements to the UK basis, proposition, and market offering
• Ensure that Munich Re’s approach to pricing longevity business is appropriate, suggesting and embedding enhancements to basis processes as necessary

General Longevity team (20%):

• Work in conjunction with colleagues to coordinate & facilitate various internal processes
• Use desktop and other research to track developments in the market
• Proactively develop talent through knowledge sharing on market developments and practices
• Promote Longevity within the UK office and aid the Head of Longevity in the development of the UK’s Global Centre Of Competence role including working with international clients and colleagues
• Provide guidance and support for in-force monitoring activity within the Longevity team
• Work with the Head of In-Force on in-force related projects as required to manage our existing portfolio
• Work with colleagues to manage material operational risk failures, data/accounting issues, etc.
• Support wider branch as required. Plus any additional duties and responsibilities that may reasonably be expected to be undertaken in accordance with the role

Longevity system & process development (10%):

• Optimize current longevity pricing and basis systems and lead/support the development of new systems
• Seek to improve efficiencies in current systems by increasing speed and automation
• Recommend and investigate new tools and modeling techniques to support basis development and pricing analysis
• Introduce R, or other programs/databases as necessary, to develop systems and processes that boost the team’s center of competence role in non-UK markets

Competencies:

• Drives results (we think big) – you consistently achieve results even under tough circumstances, with the organization’s performance in the front of your mind. You make good and timely decisions to keep things moving, using analysis, experience, and judgment.
• Business insight (we think big) – you can apply your knowledge of the business and the market to advance your business’ and wider organization’s goals.
• Collaboration (we lead the ‘we’) – you identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion, whilst maintaining clarity and unity of direction.
• Client focus (we grow with our clients) – you build and maintain strong client relationships (internal and external), listening to their needs and working with them to ensure value is created.
• Cultivates innovation (we grow with our clients) – you create new and better ways for Munich Re to be successful e.g., generating ideas, creating efficiencies, harnessing new technology, etc.
• Courage (we care and dare) – you are willing to challenge the status quo and address difficult issues, saying what you believe needs to be said. You also continue to operate effectively even when things are uncertain and the way forward is unclear.
• Persuades (we are clear and authentic) – you use clear and compelling arguments to gain the support, enthusiasm, and commitment of others, whilst ensuring you take time to actively listen to the diversity of views and opinions.

Key Skills & Experience:

Essential

• Relevant experience of the bulk annuity market and longevity swap pricing
• Strong analytical and modeling skills, with the ability to work independently and apply judgment
• Technically strong, with the ability to develop models in Excel, VBA, R, or other programming languages
• Able to grasp new concepts and technical issues quickly, and communicate them effectively to others
• A team player who will step up and take responsibility when required
• Good people development and training skills
• Willing to challenge the status quo

Desirable

• Good commercial awareness
• Good understanding of DB de-risking offerings in the market.
• Longevity insurance/reinsurance experience
• Contacts with key longevity players in the market
• Good negotiation skills and ability to work under pressure

Qualifications and Educational Requirements:

• Nearly or newly qualified actuary
• Directly relevant actuarial experience of the bulk annuity/longevity swap market, DB pensions market, or longevity swap pricing

Thought Leaders:

• You are seen as an expert in your field and will be the ‘go to’ person for your area of specialism within Munich Re. You will be seen as a role model/mentor to others – identifying opportunities to share your knowledge with others.
• You will demonstrate and role model inclusive behavior and encourage your colleagues to play an active role in creating an inclusive culture as well.
• You will treat your colleagues and sales and business partners fairly and with respect.

Regulatory & Conduct Requirements:

• Ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules

Benefits:

• You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%. We are one of the few employers to offer fully paid 6 months family leave for times when you need it the most.

Diversity, Equity & Inclusion:

At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. We recognize 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.

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!

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.