• Actuarial Analyst United Kingdom
  • Munich Re in United Kingdom, , United Kingdom
  • jobs
  • 1 month ago

jobs description

At Munich Re Specialty Group (MRSG), individuality and intellectual curiosity is a key driver for our success and innovation. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge. We know there is always more work to be done, but we’re committed to building a strong and inclusive culture where everyone is welcomed and valued for their “own expression of self-identity”.

About us

MRSG is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance.

As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Singapore, Labuan and Dubai.

Our group of companies provide solutions covering Casualty, Marine & Cargo, Aerospace, Cyber... Political Violence, Trade Credit and Property, Contingency and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable people and businesses to thrive.

Capital Actuarial Analyst
• Provision of actuarial capital support to the Syndicate, while developing modelling and actuarial skills. In particular, this is:
• supporting the provision of accurate and timely SCR and capital related figures,
• Maintaining the Internal Model (IM),
• Checking and validating the IM and associated changes
• assisting with parameterisation and validation of the IM and associated documentation. This will include but not be limited to, undertaking data analysis and cleansing, updating and supporting the communication and producing of documentation on model changes and developing understanding of the internal model and why changes are being made and planned.
• Populating Lloyds required data

The Role
• Develop a deep understanding of capital modelling, its regulations and importance to the Syndicate;
• Further develop Igloo skills, and code increasingly complex model changes in the IM;
• Develop current knowledge and understanding of the IM;
• Provide suggestions on possible future changes to the IM including identifying its requirements, advantages and disadvantages
• Data analysis to support the inputs of the IM, including data checking, review and distributional fitting;
• Support the work of the capital modelling team, including running the model, updating inputs, providing outputs and documentation (including updating reports);
• Use and suggest updates to supporting documentation in particular for processes;
• Carry out validation analyses as needed, assist with resolution of validation issues identified; and preparation of primary validation report for the Director of Risk & Compliance;
• Undertake actuarial examinations and to qualify as an actuary;
• Develop basic (level 1) knowledge and understanding of Lloyd’s rules and regulations.
• Assist where required to support the wider Actuarial Function.
• Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.

What we are looking for
• Practical experience in a General Insurer or preferably a Lloyd’s Syndicate;
• Good numerate degree;
• Good IT skills (minimum of Excel, preferably SQL and some programming experience in Igloo desirable);
• Intermediate knowledge and understanding of:
• Underlying principles of Reinsurance and operation of reinsurance programmes;
• Capital Modelling;
• Underlying principles of Insurance;
• Solvency II reporting requirements and basis of calculations;
• Actuarial techniques;
• Capital Modelling process, coding and the IM.
• Developing detailed knowledge of actuarial methods and techniques, and the ability to apply them in practice, making reasoned judgements within a business environment;
• Good working knowledge of statistical methods;
• Desire to develop and maintain current market knowledge on practices and regulation;
• Willingness to continue to develop knowledge of any related issues;
• Ability to work relatively independently, while understanding limitations and when to ask for advice;
• Capital Actuarial Experience is desirable, ideally in a GI setting, but not essential;
• Some actuarial exam progress (though not essential).

Your career with us

At MRSG, you’ll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more!

Diversity & Inclusion

Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.

Working together, we are an employer of choice by building the workforce for today and the future. We make it happen. Together.

Push Boundaries. With us. | Munich Re
United Kingdom


Apply - Actuarial Analyst United Kingdom