2Nd Vice President & Actuary, Head Of Valuation

Company
Munich Re Life US
Location
New York , United States

The 2nd VP & Actuary, Head of Valuation reports directly to the Chief Actuary for Munich Re Life US and is charged with providing information regarding the risk, liability and value of all lines of business to the appropriate stakeholders. This role owns the valuation process across the following reporting basis: IFRS, STAT, and SII. The Head of Valuation is the owner of the results and analysis for IFRS and STAT reserves, as well as projected cash flows and reserves used in IFRS and STAT forecasts and SII reporting for all lines of business.

This role has the opportunity to develop strong working relationships with Munich Re Group central functions, including Central Life reserving and has extensive exposure working with Senior Management, including the CFO, CEO and Business Unit Heads.

Your Role:

• Valuation and external financial reporting for all lines of business: Life, Disability, LTC, Annuity and Financial Reinsurance for Individual and Group business
  • Assessment of appropriateness of Valuation methodologies under various frameworks
  • Setting and review of Valuation assumptions
  • Quarterly valuation for required external frameworks
• Development and implementation of internal management reporting and analysis
  • Performance of pricing reviews
  • Maintenance of experience reporting
  • Support to lines of business regarding risk evaluation and management
• Planning process support
  • Preparation of financial projections for strategic and financial planning processes
• Projects and management support
  • Effective management and support of team members
  • Assistance to external reviewers (e.g., auditors)
  • Assistance in execution on strategic initiatives

Your Profile:

• FSA required
• Bachelor’s degree in Actuarial Science, Mathematics, Statistics or related field
• 10+ years of actuarial experience, preferably in life/health insurance
• Prior experience managing and mentoring a team
• Knowledge of Disability Income, or Long Term Care, or Individual Life insurance or Group Life insurance preferred
• Familiarity with IFRS, STAT, Tax, and Solvency II reporting
• GGY AXIS preferred

Our Benefits

• Comprehensive Medical Plans
• 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
• Commuter Benefits
• FSA and HSA Plans
• Hospital Indemnity, Critical Illness and Accident Plans

For New York City based employees, the base salary range anticipated for this position is $253,058 - $293,015, 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.

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.

About Munich Re

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.

Please note that only candidates who are selected for interview will be contacted directly. We thank all candidates for their interest.