Job Description

The Actuarial Associate – Individual Life Valuation supports the valuation and financial reporting of the Individual Life business. The role reports to the AVP & Actuary, IL Valuation. The role focuses on best estimate and Statutory reserve valuation, assumption review, and actuarial analysis using insurance data and actuarial models. The position contributes to quarterly and annual valuation cycles while maintaining strong documentation and control standards.

Primary / Key Accountabilities

Individual Life Quarterly and Annual Valuation

• Assist in the preparation and review of statutory valuation results.
• Support valuation and projection processes.
• Perform actuarial data analysis for reporting.
• Maintain valuation documentation and controls.

Annual Assumption updates

• Support actual-to-expected experience analysis on the Individual life business.
• Assist with assumption implementation and documentation.

Projects and Team Support

• Support actuarial projects and audit requests.
• Maintain model and process controls.

Qualifications

• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Finance, Economics, or related field
• Minimum two actuarial exams completed with commitment to ASA/FSA progression
• 1-2 years of experience in an actuarial related field e.g. pensions/insurance or reinsurance
• Knowledge of procedural  or interpreted programming language is a bonus (e.g. R or Python)
• Experience with Actuarial modeling tools preferred (GGY AXIS experience preferred)

Our Benefits

• Comprehensive Medical Plans
• PTO and Family Leave
• Retirement Savings Plans
• Dental and Vision Plans
• Life and Disability insurance
• Employee Assistance Program
• Adoption Assistance
• Wellness Programs - Calm, WW, SoFI, Virgin Pulse
• Commuter Benefits
• FSA and HSA Plans
• Hospital Indemnity, Critical Illness and Accident Plans

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 $109,000 to $146,000, 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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