Company
Munich Re Syndicate
Location
London , United Kingdom
About us


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.


Please see our website for more information.


Actuarial Analyst (Reporting & Reserving)


We are currently looking for a Actuarial Analyst to be based in London on a full-time basis, reporting into the Reserving Manager, with a dotted line into our Reporting Manager.


This role will perform a broad range of actuarial reserving and reporting tasks for Syndicate 457, covering both local (Lloyd’s) and group (Munich) reserving & reporting requirements.


Responsibilities:

• Lead elements of the Lloyd’s reporting processes as needed, including Solvency II (QSR, ASR, TPD, US Trust Funds, etc.) and Syndicate reporting (QMA, QMB), ensuring results are produced to a high standard with delivery in line with the Lloyd’s reporting timetable Review the work of others working on these processes;
• Undertake elements of the actuarial delivery of Munich reporting processes, including Solvency II TPs, quarterly reporting (Actuarial Day, Outliers, IBLC, Av E) and annual reporting (e.g. MYA), and review others. Ensure that results are produced in line with the Group requirements and reporting timetable. Review the work of others working on these processes;
• Support the Reporting Manager in other reporting tasks as needed, including IFRS17 reporting to Group.
• Lead reserving deep dives into specifics reserving topics and risks, engaging with claims and underwriting teams and presenting results to key stakeholders.
• Support the Reserving manager in the annual reserving reparameterisation of the reserving models, including annual updates of reserving parameters (gross and reinsurance) and development of models for new classes of business, as well as, support development and implementation of new reserving techniques;
• Lead elements of the Best Estimate reserving process, by producing, reconciling and analysing draft results (gross and reinsurance);
• Lead elements of the Syndicate reserving process, such as reconciliation of data sets, participation at reserving meetings, and preparing information for the Reserving Steering Group. Review allocation of margin to reserving class to ensure consistency with the reserving policy;
• Monitor the Syndicate’s claims experience using actual versus expected analysis, and document the results for review;
• Manage and update the documentation of reserving and reporting exercises, such as quarterly reserving memos;
• Extract and analyse data for varied reserving and reporting purposes from the data warehouse, as well as from the underwriting, claims and reinsurance systems directly as needed. Ensure any trends in the data are appropriately captured in the reserving process;
• Review and/or peer review the work performed by other colleagues involved in the reserving and reporting process. Share feedback and knowledge to support team development.
• Support the creation of actuarial reports such as the Actuarial Function Report and Annual Reserve Report;
• Gain familiarity with the data warehouse, as well as underwriting, claims and reinsurance systems. Extract and analysing data for varied purposes using SQL;
• Support the continued development and improvement of the reserving and reporting infrastructure and MI to meet the increasing demands from the business and deliver process automation;

Knowledge and Skills

• 3+ years of reserving or reporting experience, ideally within a Lloyd’s Syndicate.
• Current Lloyd’s market knowledge, including Solvency II.
• Willingness to further increase knowledge of Reserving and Reporting related matters, key market topics and develop technical and management skills.
• Willingness to work to deadlines and in a dynamic international regulatory environment.
• Interest in automation of actuarial processes to meet accelerated timetables.
• Willingness to mentor more junior members of the team.
• University Degree in Mathematics, Computing or similar subject area and/or relevant professional qualification.

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 and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise 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.


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.


Learning and innovating today, striving for sustainable societies and business tomorrow
At Munich Re Specialty – Global Markets our approach to ESG is underpinned by our desire to seize business opportunities and to nurture a stimulating and inclusive work environment. Our ESG strategy aims to deliver holistic impacts across environmental, social and governance topics including supporting a number of local initiatives within our community and offering volunteering opportunities for colleagues.


Learn more about sustainability at Munich Re – choose your impact!


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

#Be Present #Be Bold #Be Curious