Job Description

Munich Re Markets structures and administers bespoke reinsurance solutions for Munich Re’s life insurance clients with a focus on clients’ products in the savings, retirement and investment space. These transactions typically involve combinations of financial markets and insurance risks while delivering a capital and/or risk management impact relevant to an insurers corporate finance management and planning. Business written thus far as well as the existing pipeline offer a very interesting and insightful mixture of insurance contracts, the majority of which is measured as financial instruments (IFRS 9). The section is responsible for a broad range of tasks around monitoring and reporting of this business, with divisional interfaces to IRM, CLR, RIC, as well as to risk carriers such as New Re, Munich Re PCC and Munich Re Beijing and others.

Reporting duties are recurring, but the content is always different due to a variety of reasons and effects. Further to these duties, we shape our future by ultimately striving for the highest possible automation of our processes. A high degree of automation is required to further scale up our business and, in the end, to enable the division to succeed with its ambition.

Are you a self-motivated number cruncher with a passion for coding? Are you interested in working in a multinational and interdisciplinary team? Then a multitude of challenging tasks awaits you!

Your Job

• Reporting & quality assurance of the division’s life reinsurance business according to Solvency II and VBM calculations
• Further reporting tasks could be in the sphere of IFRS 17, the monitoring of our capital market positions, our non-hedged business or the reporting for our internal primary insurance carrier located within the EU
• Drive further automation by detecting and closing gaps by coding (we essentially use R & SQL)
• Contribution to other tasks of the team, one-off or recurring, such as the overarching quality assurance and processes around internal and external audit

Your Profile

• Very good university degree in (actuarial/finance) mathematics, physics or informatics, and strong knowledge of life insurance mathematics, financial mathematics, and Solvency II
• Ongoing or completed training for fellowship in an actuarial society is considered an asset
• Very good skills in R (incl. RMarkdown and the data.table package), SQL and PowerBI
• At least 3 years of experience in (re-)insurance (Life or Risk Management / Reserving), investment banking, consultancy or in related areas, ideally with some knowledge in valuation models, IFRS 9/17 and/or solvency standards
• Experience in project work and, ideally, project management
• Very good communication and respective attitude
• Excellent analytical and conceptual skills
• Fluent business English; German would be considered an advantage

Application Instructions

Please apply through our online portal and upload your CV, as well as your academic reference letters, including school certificates, graduation certificates and transcripts of record for any degrees. If applicable, please also submit reference letters from any previous employers or certificates from any other qualifications you may have. We recommend writing a cover letter to tell us more about why the position and Munich Re is of interest to you.

About us

As the world's leading reinsurance company with more than 16,000 employees at over 50 locations, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into a manageable risk we enable fundamental change. Join us working on topics today that will concern society tomorrow, whether that be climate change, major construction projects, medical risk assessment or even space travel. Together we embrace a culture where multiskilled teams dare to think big. We create the new and the different for our clients and cultivate innovation. Sounds like you? Push boundaries with us and be part of Munich Re.
Our employees are our greatest strength. That’s why we offer them a wide range of benefits. You can find some examples below.

Unlock your potential

• Diversity, Equity & Inclusion: we embrace the power of differences and are convinced that diversity fosters innovation and resilience and enables us to act braver and better.
• Continuous Learning: we believe that continuous learning is a key differentiator and critical for building new skills and accelerating growth.
• Career Mobility: we actively support career mobility, and our strong global and regional presence offers a wealth of career growth opportunities for you.

Rewards & Recognition

• Competitive salary: appropriate compensation for your high level of commitment.
• Retirement provision: state of the art in-house pension solutions.
• Work-life balance: promoting the compatibility of family and work in addition to overall work-life balance.
• Health management: focus on your physical and mental health far beyond legal requirements.
• Hybrid working: living the best of both worlds – we offer you a very flexible approach as well as the opportunity to work from abroad on an occasional basis.

* Munich Re not only stands for fairness with regard to its clients; it is also an equal opportunities employer. Severely disabled candidates will also be prioritized, if equally qualified.

Münchener Rückversicherungs-Gesellschaft
Lisa Schneider
Talent Acquisition Partner