Company: Munich Re America Services, Inc.
Position: Actuary Sr.
Location: Princeton, New Jersey
Job Type: Full-Time
Salary Range: $237,250 to $237,250 per year
Duties: Lead cross-functional initiative with IT to streamline and upgrade legacy actuarial systems by designing and implementing automated, scalable and efficient solutions. Conduct detailed reserve analyses across various actuarial segments, ensuring accuracy, consistency, and compliance with internal standards. Perform peer reviews of reserving analyses prepared by other team members. Support the quarterly and annual closing and reporting processes for the non-life reinsurance business. Ensure compliance with Statutory, GAAP, Solvency II, and IFRS reporting requirements. Work with Central Reserving, Business Units, Accounting, IT and other internal stakeholders to streamline actuarial and reserving operations that align with overall business goals.
Requirements: Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Engineering or a closely related field plus 6 years as an Actuary, Actuarial Associate, Actuarial Analyst or closely related position in the property & casualty (P&C) insurance industry. Alternatively, will accept Master’s degree in same fields plus 4 years of work experience in same positions. Must be a Fellow of the Casualty Actuarial Society (FCAS) or other comparable actuarial society. Prior work experience must include: Evaluating loss emergence, conducting actuarial assessments and ensuring accuracy and consistency across segments; Implementing technology-enabled workflows that combine actuarial methods with IT development practices by collaborating with IT teams in projects involving enhancements of the legacy systems; Integrating actuarial models and operational processes within enterprise business workflows to streamline loss estimation, reporting and data preparation tasks; Identifying any data anomalies, investigating discrepancies, and reconciling inconsistencies across multiple sources; Ensuring that actuarial data reporting is accurate, compliant and reasonable to support sound business decision making process; Performing actuarial analyses, building actuarial models and automating systems; Analyzing loss trends, loss emergence, model outputs to support data-driven decision making; Using statistical programming languages and tools including R, SAS, SQL, Python; and, building dashboards for actuarial KPIs using data visualization tools such as Power BI, Tableau. May telecommute but must have ability to report to the Princeton, NJ office 2 times per week.
Benefits: 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).
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