Job Description

Reserving Actuary

We are adding to our diverse team of experts and are looking to hire those who are committed to building a culture that enables the creation of innovative solutions for our business units and clients.

The Company

Munich Re America Services (MRAS) is a shared service organization that delivers services to all Munich Re US P&C Companies and other group entities.

As a member of Munich Re's US operations, we offer the financial strength and stability that comes with being part of the world's preeminent insurance and reinsurance brand. Our risk experts work together to assemble the right mix of products and services to help our clients stay competitive – from traditional reinsurance coverages, to niche and specialty reinsurance and insurance products.

The Opportunity

Future focused and always one step ahead!

Corporate Reserving combines quantitative methods with qualitative insights to monitor and analyze loss reserves for Munich Re’s US P&C businesses. We continuously adapt to change by enhancing our actuarial methods, systems, and tools. Our team also assesses reserve risk and uncertainty and contributes to financial reporting across IFRS 17, Solvency II, US GAAP, and Statutory standards.

As a key member of the US P&C Re Reserving team, you will be a strategic partner to our business units, combining actuarial expertise and judgment with portfolio knowledge and market insights to support profitable growth. You will build strong partnerships with key stakeholders while maintaining independent actuarial judgment and an objective perspective on reserve adequacy and balance sheet strength. You will also work alongside experienced colleagues across the organization, with opportunities to broaden your experience and deepen your actuarial and business expertise.

Responsibilities:

• Build trusted relationships with business unit partners, developing a deep understanding of the portfolio, business strategy, and market trends while fostering open and constructive communication.
• Take ownership of a range of actuarial analyses, from reserve reviews and assumption setting to actual versus expected analyses and targeted portfolio assessments, applying sound actuarial judgment to form your own conclusions and recommendations.
• Translate reserving results into actionable insights, connecting key drivers to the broader business context and clearly communicating their implications to actuarial and non-actuarial audiences, including senior management.
• Collaborate across our global organization, bringing together diverse perspectives and expertise to deliver high-quality reserving insights and contribute to Munich Re’s success.
• Identify opportunities to enhance reserving processes, reporting, automation, and data analytics.

Qualifications:

• Bachelor’s degree in actuarial science, mathematics, economics, or another quantitative field.
• Relevant actuarial or (re)insurance experience in reserving, pricing, underwriting, risk management, or a related discipline.
• Membership in the Casualty Actuarial Society (ACAS or FCAS) is required; equivalent international credentials will be considered.
• Strong quantitative and analytical skills, with an emphasis on practical application and sound actuarial judgment.
• Effective written and verbal communication skills, with the ability to explain technical concepts clearly to non-technical audiences.
• Excellent organizational and time-management skills, with the ability to balance competing priorities and multiple projects.
• Demonstrated experience in project management, process optimization, and change management.

The Company is open to considering candidates in Princeton, NJ. The salary range posted below applies to the Company’s Princeton location.

The base salary range anticipated for this position is $144,600 - $212,500 plus opportunity for company bonus based upon a percentage of eligible pay. In addition, the company makes available a variety of benefits to employees, including health insurance coverage, an employee wellness program, life and disability insurance, 401k match, retirement savings plan, paid holidays and paid time off (PTO).

The salary estimate displayed represents the typical salary range for candidates hired in this position in Princeton, NJ. 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. Most candidates will start in the bottom half of the range.

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 5% employer match
• A retirement savings plan that is 100% company funded.
• 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.
• 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, we see Diversity, Equity 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.