Life Actuarial Assistant, New York)

About the Role

Munich Re Life US is seeking client-focused individuals for its next class of permanent entry-level Actuarial Assistants for its rotational program in New York City. The program is designed to provide a strong foundation in the actuarial field, with departmental placements made closer to the start date based on internal business needs. Rotations will enhance technical skills and provide a holistic perspective of the business, positioning individuals for future leadership opportunities. All rotations are intended to take place in New York City, with an expectation to relocate to the greater New York area and adhere to a hybrid working model of at least 3 days a week in office.

Key Responsibilities

Rotational opportunities involve numerous departments, including:

• Biometric Research:
• Assist with completion of experience studies.
• Assist with quote reviews for Life, Longevity, Long Term Care.
• Analyze mortality and persistency trends within the life insurance industry using experience studies.
• Conduct research of key trends within the US general population.
• Corporate Actuarial:
• Provide financial results for the US Life & Health business.
• Collaborate with various functions to provide expertise and set assumptions for calculating policy liabilities.
• Build and manage complex actuarial models.
• Learn details of current and upcoming regulations.
• Perform analysis of the business.
• Work closely with other departments to invent creative solutions.
• Pricing (Individual Life Flow, Inforce & M&A, Alternative Solutions, Group, Living Benefits and Financial Reinsurance):
• Focus on acquiring and maintaining new business through client relations, innovative solutions, and product profitability evaluation.
• Understand key drivers in profitability due to changes in assumptions, reinsurance agreements, industry trends, and product design.
• Develop client strategies.
• Build complex actuarial models.
• Report key profit metrics.
• Perform market research.
• Quote on special business.

Requirements & Tech Stack

• Proficiency in Microsoft Excel, Access, and Word.
• Preferred: Programming skills (such as, but not limited to: Python, Java, VBA, C/C++/C#, etc).
• Preferred: Familiarity with GGY Axis.
• Preferred: Experience with actuarial/financial modeling.
• Preferred: Knowledge of the life insurance industry and products.

Qualifications

• Bachelor’s or Master’s degree in Actuarial Science, Math, Statistics, Risk Management, or equivalent program – in healthy academic standing.
• Completion of at least two actuarial exams with demonstrated progress towards ASA designation.
• Relevant work experience, having completed at least one relevant internship or co-op work term.
• Excellent communication skills – spoken & written, formal/informal presentation.
• Demonstrated ability to create and manage positive professional relationships with good client service acumen.
• Proven capability to multi-task and successfully self-manage multiple priorities and projects of various significance.
• Solid organizational skills and rigorous attention to detail/accuracy in a fast-paced environment.
• Demonstrates leadership qualities – clear-thinking, curiosity, integrity, and drive.