Munich Re Specialty – Global Markets

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

Senior Actuarial Analyst

We are looking for a Senior Actuarial Analyst to join our team in London on a full-time hybrid basis, you will support the Syndicate, while developing modelling and actuarial skills.

Key Responsibilities

• Support the provision of accurate and timely SCR and capital related figures
• Take a proactive approach to identifying, investigating and resolving Capital Model issues
• Maintain the Internal Model (IM) and check and review the IM changes
• Assist with parameterisation and validation of the IM and associated documentation
• Undertake data analysis and cleansing, update and support the communication and production of documentation on model changes
• Develop an understanding of the internal model and why changes are being made and planned
• Assist with the redevelopment of the IM data feeds project, and the project to remove as much bespoke code as possible

Specific Responsibilities

• Develop a deep understanding of capital modelling, its regulations and importance to the Syndicate
• Further develop Tyche skills, and code increasingly complex model changes in the IM. Review and sign off the model changes made by other team members
• Provide suggestions on possible future changes to the IM including identifying the requirements, advantages and disadvantages of the change
• Data analysis to support the inputs of the IM, including data checking, review and distributional fitting
• Populating Lloyd’s required data returns
• Contributing to the enhancement of model outputs and the optimisation of model input processes
• Supporting, mentoring and developing junior team members to strengthen the team's technical capabilities
• Support the work of the capital modelling team, including running the model, updating inputs, providing outputs and documentation
• Use and suggest updates to the supporting documentation including processes, expert judgments, model limitations, PLAs and MLAs
• Carry out validation analyses and tests as needed, assist with resolution of validation issues identified. Communication of the results and explanation for the rationale of the results changing to the Risk Team
• Become involved in the development of the uses of the IM, improving outputs and explaining the implications of the information provided to the business
• Develop intermediate (level 2) knowledge and understanding of Lloyd’s rules and regulations, in particular around capital setting and the associated PBO requirements
• Undertake actuarial examinations and to qualify as an actuary
• Assist where required to support the wider Actuarial Function
• Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders