Lead Actuary, MunichRe Markets

Position Overview

The Munich Re Markets business focuses on the structuring, marketing and risk management of bespoke reinsurance transactions for Munich Re's life insurance clients, specializing in the savings, retirement and investment space. These transactions typically involve the transfer of capital market and insurance risks, for the purpose of risk management, capital optimization, corporate finance management objectives and/or allowing the insurers to offer innovative and competitive products.

Munich Re Markets is seeking a highly motivated and creative actuary to join our New York-based structuring team. In this role you will be directly involved in the financial analysis of live transactions for our North American clients; developing new solutions for savings, retirement and investment products, and working on strategic initiatives to expand, innovate and strengthen our offerings.

We seek to support our clients in the development of new products, and supporting those products with bespoke flow reinsurance solutions. Currently, the team focusses primarily on the annuity space (FIA, RILA, MYGA), but extends to index-linked life products (IUL, BOLI/COLI).

• In order to support our clients' product development efforts, it is essential that we build deep insights into our clients' needs and objectives (i.e. product profitability, reserve and capital optimization, product innovation) and have the capability to demonstrate the benefits of our solutions on a pre- and post-reinsurance basis.
• We are seeking a seasoned actuary who has a genuine interest in product design and financial modelling, and who has the skillset and experience to optimize reinsurance solutions to accompany these products.
• The candidate will be responsible for developing a broad range of actuarial models for the analysis, optimization and tailoring of reinsurance solutions to our clients' specific needs.
• You will be a subject-matter expert in the team with respect to the practical application of actuarial standards, valuation and regulatory topics and emerging trends.
• You will be working within a small, transaction-focused team on a variety of transaction types, which will challenge the candidate to think 'outside of the box' to achieve viable practical solutions.
• Direct involvement with ceding companies in discussions around structuring, pricing, modelling and regulatory topics.
• Collaboration with internal teams to assess product feasibility from a legal, accounting and regulatory perspective.
• Responsible for the preparation of internal approval memorandums, client proposals, and board-level presentations.

• 10+ years professional experience at a primary insurance or reinsurance company
• Advanced degree in Actuarial Science, Mathematics, Finance, Statistics, Engineering or related field
• Fellow of the Society of Actuaries (FSA) or equivalent.
• Strong understanding of annuity reserving standards (e.g. VM‑22, VM‑21) with experience working with relevant financial models using industry tools such as GGY‑AXIS.
• Practical experience in a pricing actuary role in the annuity space, with insights into key pricing considerations, assumptions and industry best practice.
• Familiarity with insurance accounting standards (US Statutory, US GAAP) and capital regimes (NAIC RBC, Solvency II).
• Proficiency in actuarial software (GGY AXIS (preferred), Prophet, MG ALFA) and Excel, Power point
• Familiarity with financial mathematics, derivative analytics/risk/hedging.
• Familiarity with Python, SQL, Github beneficial but not required.
• Excellent written and verbal communication; experience presenting to senior executives and clients
• Experience with (re) insurance products is beneficial but not required.
• Someone who embraces a client-focused, transactional approach; balancing academic rigor and creativity with a pragmatic mindset.
• A team player who thrives in a fast-paced environment.

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…