Actuarial Manager Sr

All locations Princeton, United States;
New York, United States;

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities.

As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive - from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

Future focused and always one step ahead!

We are looking for a head of Reserving Transformation, Operations and Processes Team in FMR Corporate Reserving. The responsibility of Corporate Reserving is to use quantitative and qualitative methods to perform and oversee the loss reserve analyses for Munich Re's property and casualty business in the US. This includes continuous monitoring of the reserve position, and the further development of actuarial methods, the underlying systems, and tools.

Additional responsibilities are the assessment and quantification of reserve uncertainty and reserve risk, as well as financial reporting on non-life technical provisions under IFRS
17, Solvency II and Statutory standards.

Your principal role is to manage the team, which is responsible for the Operations and Processes with in Reserving - this particularly includes all data and systems topics, local statutory closing, annual statement reporting, the organization of the annual Reserve Review for the team, as well as the co-ordination with the external Auditor. Beside Operational Topics this team will be heavily involved in Project work concerning transformational topics in Reserving specifically and Financial Management Reporting more generally.

• Lead and develop a team, managing the reserving operations and financial closes, while fostering a high-performance and learning-orientated culture.
• Set a vision and execution standards for reserving, closing, and reporting cycles, ensuring a robust governance and audit readiness for all reserving operations and controls.
• Act as liaison with Global Reserving Teams, CFO, IRM, Audit, Accounting, Financial Reporting, Planning & Expense Team and other key stakeholders to ensure alignment and transparency.
• Coordinate financial close activities, including cession QA, booking handoffs, and retro modeling, in partnership with Finance and Accounting.
• Support Annual Statement Reporting and Schedule P Process in close collaboration with other responsible FMR teams.
• Quarterly Financial Reporting of Underwriting Results under Statutory Reporting standards, focusing on a technical sound analysis of underlying business drivers for the CFO.
• Planning and oversight of the Reserve Review Process, ensuring excellent quality and compliance to actuarial standards of practice, as well as group reserving policy.
• Maintain current knowledge of trends in actuarial methods, reserving systems, and technology; recommend solutions that balance cost and risk, while facilitating know-how transfer across the various operational Reserving teams.
• Lead transformation projects and system integrations to drive process simplification and automation initiatives. Champion continuous improvement and efficiency gains, partnering with global reserving and finance teams.

Successful candidates will possess the following skills/capabilities:

• Bachelor's degree in mathematics, actuarial science or a similar qualification with a strong quantitative focus;
  Masters or MBA preferred
• Proven leadership, communication and interpersonal skills
• Several years of managerial or supervisory experience in an actuarial role (e.g. Reserving, Pricing, Risk Management, Underwriting, Controlling, Data Analytics) in the Property/Casualty Insurance Industry
• Strong knowledge of (re) insurance, as well as accounting, finance and financial reporting
• Extensive knowledge of actuarial methodologies, processes, systems and data structures, with applicability towards (re) insurance operations.
• In depth working knowledge of BI software, statistical programming languages, design of data structures and database tools (such as TM1, SQL, SSAS or similar)
• Strong project management, process optimization and change management skills and experience.
• FCAS (or comparable actuarial society) credentials preferred
• Excellent analytical skills together with a solution-oriented mindset
• Solid knowledge of non-life reserving, and strong background on financial reporting, with experience in the valuation according to IFRS 17 and/or Solvency II
• Ability to present complex issues to non-actuaries and to be comfortable and credible in…