Munich American Reassurance Company

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Assistant Actuary - Living Benefits

at Munich American Reassurance Company

Posted: 10/17/2017
Job Reference #: 1215

Job Description

Location:
New York

Insurance for insurance companies.  That's a simple way to describe a complex business. We're shock absorbers for our clients. Without insurance, individuals and businesses would find it difficult to recover financially when disaster strikes. Without reinsurance, insurers simply couldn't offer this peace of mind.

Are you ready to shift your career to the next level?  Munich Re, US (Life) aspires to be the premier reinsurance business partner that delivers exceptional value to our clients and stakeholders.  As the US-based life subsidiary of one of the world's largest reinsurance companies, we are the industry leader in delivering world-class service and solutions to many of the most recognized insurance companies around the globe.  We offer a highly competitive total compensation package that rewards hard work and success. 

Munich Re, US (Life)  is currently seeking an Assistant Actuary on our Living Benefits team.  This position plays a significant role in evaluating and pricing Living Benefits reinsurance opportunities. Specifically, this position assists the lead pricing actuaries by setting and peer reviewing assumptions used to price the various opportunities.  This position requires substantial technical expertise and developing knowledge of individual disability insurance.

Responsibilities:

New Business Modeling & Assumption Setting – Support the evaluation of Living Benefits reinsurance opportunities, i.e., opportunities intended to generate new business and opportunities to improve existing business.  The main responsibilities include:

  • Review information provided by clients
  • Build pricing models based upon assumptions provided by the lead pricing actuaries or by setting those assumptions.
  • Run pricing model projections, analyze and summarize results.
  • Documentation and organization of pricing models and files
  • Perform Peer Reviews

Modelling Process Improvements & Cross-Training

  • Model process improvements thru the continual refinement of workbooks and templates used in the support of new business modeling
  • Manage projects
  • Mentor analysts

Special Projects

  • Lead the modeling and analysis in more technical and complicated projects
  • Other ad hoc requests

Qualifications:

  • FSA or near-FSA with 5+ years of experience as an actuarial associate
  • Experience with GGY AXIS modeling capability (advanced end-user and development background experience for individual life products)
  • Disability insurance pricing and product development experience (preferred)
  • Experience with GGY Axis required
  • Familiarity with other actuarial modeling software and MS Office

Follow us on LinkedIn Munich Re, US (Life) LinkedIn or Twitter @munichreuslife

SHRM-CP or SHRM-SCP certification is preferred.