Reserving Actuary – Munich Re

Join our team in the London City office as a Reserving Actuary, working full time. You will perform a broad range of actuarial work within the Reserving and Reporting function, leading first lining reserving responsibilities MRSG and liaising with the actuarial community across global teams.

Responsibilities

• Lead the development and implementation of reserving processes and systems for first line reserving of MRSG business written on a number of legal entities within the Group.
• Lead quarterly reserving processes for MRSG business by reconciling data sets, analysing and producing reserving results, including reviewing results produced by other members of the team.
• Support the quarterly Best Estimate and Syndicate reserving processes for Syndicate business written via Lloyd’s platform, including leading reserving meetings and preparing information for the Reserving Committee.
• Monitor claims experience using actual versus expected analysis, and document the results for review.
• Carry out deep dives on key reserving uncertainties and reserving classes, and communicate results to key stakeholders.
• Present results to a variety of stakeholders to provide insight and recommendations on reserving and performance related results, including liaising with the actuarial community and working across global teams under GSI4.
• Work collaboratively and proactively engage relevant stakeholders, e.g. support reporting teams on key drivers of reserving movements.
• Build knowledge of actuarial reserving through on-the-job learning and structured training, and assist in the same for analysts.
• Assist as required with wider reserving tasks such as the annual reserve report, benchmarking exercises and deep‑dive reserving investigations.
• Contribute to other Reporting and Reserving tasks as needed.
• Help drive forward good Conduct for the business to deliver the best outcomes for customers and policyholders.

Knowledge and Skills

• Mathematics or Actuarial Background
• Proficient in Excel and databases
• Ability to understand and explain key Actuarial processes

Education and Professional Qualifications

• University Degree in a quantitative field such as Mathematics, Actuarial Science or Statistics.
• Qualified actuary (FIA or equivalent) or qualified by experience.

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!

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity and Inclusion foster innovation and resilience, enabling us to act braver and better. We welcome a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; and personal beliefs. All candidates have the right to equal employment opportunity and can request a reasonable adjustment at any point in our recruitment process. Request an adjustment by speaking to your Talent Acquisition contact.

ESG

At Munich Re Specialty – Global Markets, our approach to ESG is underpinned by our desire to seize business opportunities and nurture a stimulating and inclusive work environment. Our ESG strategy delivers holistic impacts across environmental, social, and governance topics.

Benefits

• 25 days Annual Leave + Bank Holidays
• 10% Non-contributory Pension
• Eligibility for an Annual Bonus
• Private Medical + Dental Insurance
• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to scheme eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & continuing Professional Development Support
• Hybrid Working + IT Home Set-up Support

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