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Manager & Actuary, Longevity Pricing

Location New York, United States Job type Full-Time Work mode Hybrid Job level Professional Job ID 13526 Company Munich Re Life US Employment type Regular Area of expertise Actuarial & Risk Management
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Alternative Solutions Group is a newly established team within Munich Re US Life, dedicated to delivering innovative, customized reinsurance solutions for U.S. Life & Health clients. Our mandate is to address unique and complex needs through creative structures that may include biometric and financial reinsurance, third-party capital, asset management partnerships, and other novel approaches.  The fast growing US Longevity Business sits within the Alternative Solution Group, and is a key growth driver for Munich Re’s Global Ambition 2030 strategy.

Responsibilities

Transaction Pricing - work closely with Head of Alternative Solutions to evaluate longevity reinsurance opportunities which may include pension risk transfer, individual annuities, structured settlements, merger & acquisition, and inforce block transactions. Specific tasks performed may include:  

  • Evaluating transaction material, product information, underwriting processes to establish assumptions and models for reinsurance pricing;
  • Collaborating with biometrics, data analytics, and underwriting to achieve a deeper understanding of biometric risks;
  • Presenting transaction pricing and risk analysis to senior stakeholders to obtain support and approvals.
  • Continue to build out new framework and value propositions for the evolving US annuity landscape.

Business Management

  • Pricing process improvements thru the continual refinement of tools and templates used in the support of new business pricing;
  • Monitor profitability and business performance to create feedback loop for future pricing;
  • Lead the pricing and analysis in more technical and complicated projects, ex. mortality table and improvement development, client value prop development;

Strategic Planning & Growth:

  • Monitor industry trends, evaluate competitive dynamics, and research new product & markets for growth opportunities.
  • Partner with senior leadership to define growth priorities and execute key strategic initiatives.
  • Support business development activities in preparing material to demonstrate Munich Re’s leading edge expertise in various topics and partnerships;

Qualifications

  • FSA required
  • 5+ years of experience in reinsurance, life insurance, or annuity pricing / modelling.
  • Relevant experience in financial modelling, assumptions setting, product pricing preferred.
  • Experience in direct and/or reinsurance pricing preferred.
  • Python and R experience preferred.

We are proud to offer our employees, their domestic partners, and their children, a wide range of insurance benefits:

  • Two options for your health insurance plan (PPO or High Deductible).
  • Prescription drug coverage (included in your health insurance plan).
  • Vision and dental insurance plans.
  • Additional insurance coverages provided at no cost to you, such as basic life insurance equal to 1x annual salary and AD&D coverage that is equal to 1x annual salary.
  • Short and Long-Term Disability coverage.
  • Supplemental Life and AD&D plans that you can purchase for yourself and dependents (includes Spouse/domestic partner and children).
  • Voluntary Benefit plans that supplement your health and life insurance plans (Accident, Critical Illness and Hospital Indemnity).

In addition to the above insurance offerings, our employees also enjoy:

  • A robust 401k plan with up to a 6% employer match
  • Paid time off that begins with 24 days each year, with more days added when you celebrate milestone service anniversaries.
  • Eligibility to receive a yearly bonus as a Munich Re employee.
  • A variety of health and wellness programs provided at no cost, including a gym fitness reimbursement.
  • Paid time off for eligible family care needs.
  • Tuition assistance and educational achievement bonuses.
  • A corporate matching gifts program that further enhances your charitable donation.
  • Paid time off to volunteer in your community.

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. 

For New York City based employees, the base salary range anticipated for this position is $183,000 to $203,000, 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.

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

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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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