What are the responsibilities and job description for the Manager & Actuary, Alternative Solutions position at Munich RE?
Alternative Solutions Group is a newly established team within Munich Re US Life, dedicated to delivering innovative, customized reinsurance solutions for U.S. Life & Health clients. Our mandate is to address unique and complex needs through creative structures that may include biometric and financial reinsurance, third-party capital, asset management partnerships, and other novel approaches.
In this highly visible role, you will be responsible for pricing and execution of sophisticated reinsurance transactions, as well as supporting the Head of Alternative Solutions in managing the P&L of existing portfolios, ensuring sustainable growth and profitability.
Responsibilities
Block coinsurance pricing and execution:
- End-to-end reinsurance transaction execution, including due diligence, assumption setting, pricing, valuation, and financial modeling.
- Prepare transaction approval materials and communicate effectively with key internal and external stakeholders.
- Ongoing ownership of our coinsurance pricing framework, recommend improvements and refinements based.
Financial management:
- Collaborate with asset managers to develop, maintain, and enhance the Asset-Liability Management (ALM) framework.
- Create and optimize capital structures, leveraging knowledge of economic capital and regulatory frameworks (primarily U.S., Bermuda, and SII).
- Develop financial projections to support leadership in planning and decision making.
Strategic Planning & Growth:
- Monitor industry trends, evaluate competitive dynamics, and research new product & markets for growth opportunities.
- Partner with senior leadership to define growth priorities and execute key strategic initiatives.
Qualifications
- FSA required
- 6 years of experience in life reinsurance, M&A, or sidecar required.
- Relevant experience in financial modelling, assumptions setting, product pricing preferred.
- Experience in life insurance ALM or investment management preferred.
- Experience in direct and/or reinsurance pricing 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 $178,899 to $197,731 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.