Cyber Insurance Actuary Jobs (NOW HIRING)

ERM Actuary Sr

The Company is open to considering candidates in numerous locations, including New York City (NY) and Princeton (NJ).

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!

At Munich Re, we utilize extensive risk knowledge to offer expertise, financial strength, and innovative solutions to help our clients meet the difficult challenges they face in today's world. Risk management is our strength. For us, the question is not if we can cover your risks, but how.

Integrated Risk Management (IRM) develops, implements, and maintains the framework for managing risk across Munich Re's US P&C operations. Our mission is to ensure that these risks are well understood and managed effectively through a variety of quantitative and qualitative processes.

Within IRM, our regional Risk Analytics & Strategy team quantifies the risks faced by the US P&C companies using our internal economic capital model and scenario analyses. We provide senior management with an internal view of our companies' risk profile, which is used to support the capital management and corporate risk transfer decisions of our companies.

In addition, our team facilitates the development and maintenance of each company's Risk Strategy, a process that involves quantifying our risk appetite through a series of risk criteria. We regularly report on these criteria and the resulting strategies to senior management, the Board, and regulators. Beyond this, our team provides second line risk opinions to the Board or risk committee on an ad-hoc basis. This often includes the analysis of large deals and the discussion of new or emerging risk topics.

In the ever-evolving landscape of risk management, we're seeking a team member who combines exceptional communication skills with a strong technical foundation and a growth mindset.  You will play a crucial role in informing and influencing our key stakeholders by leveraging our risk management framework and wide range of in-house risk models. Moreover, you will have the opportunity to enhance and refine them as necessary to ensure their ongoing effectiveness. Through this work you will develop an in-depth understanding of all of the risks facing a (re)insurance enterprise including underwriting accumulation risk, asset liability mismatch risk, and volatility in loss experience, among others.

Responsibilities:

Key responsibilities of this position include:

• Capital Modeling and Risk Analytics: Lead recurring projects in risk capital modeling, portfolio analysis, stress testing, and scenario analysis. Leverage data and expertise from across the organization to assess risk exposures and inform capital management, reinsurance, and other strategic business decisions.
• Risk Governance, Assessment, and Reporting: Lead or support enterprise risk management processes, including the annual Own Risk and Solvency Assessment (ORSA), Risk Strategy, risk assessments, and risk reporting. Partner with business leaders and executive management to evaluate risks, assess management actions, and support risk-informed decision making.
• Model Development, Validation, and Enhancement: Drive the continued development of the internal economic capital model to improve the identification, measurement, and aggregation of risks, including emerging risks such as cyber, climate, and wildfire. Independently or collaboratively perform model validation activities and evaluate methodologies, assumptions, and implementation against industry standards and best practices.
• Risk Advisory and Decision Support: Provide risk and capital expertise to business and executive stakeholders through analysis, presentations, training, and consultation. Translate complex quantitative concepts into actionable insights that support strategic planning, risk management, and business decision making.

Qualifications:

Required experience and technical competencies:

• Ten or more years of experience in (re)insurance, actuarial, risk management, or related analytical disciplines, with demonstrated ability to apply quantitative analysis to business and strategic decision making.
• Comprehensive knowledge of actuarial and statistical models, analytical techniques, and their practical applications within the insurance industry.
• Demonstrated ability to develop expertise in new subject areas through self-learning, research, and collaboration with internal and external experts.
• Experience with statistical programming languages (e.g., R, Python) and data analytics tools and platforms (e.g., SQL, Git, Azure).
• Broad understanding of (re)insurance company operations, products, risk exposures, financial performance drivers, and the data used to support underwriting, capital management, and business decision making.
• Demonstrated ability to communicate complex quantitative concepts to both technical and non-technical audiences and influence decision making across a broad range of stakeholders.
• Bachelor's degree in Mathematics, Actuarial Science, Economics, Finance, Statistics, or another quantitative discipline.
• Preferred: Fellow of the Casualty Actuarial Society (FCAS), comparable international actuarial designation, CFA Charter holder, or advanced degree in Actuarial Science, Economics, Finance, Mathematics, Risk Management, or a related field.

Key professional attributes:

• Good time management, project management, and organizational skills, including managing conflicting priorities, completing multiple tasks and projects, and coordinating resources outside of the department.
• Strong interpersonal skills, with a track record of building relationships, influencing stakeholders, negotiating outcomes, and gaining acceptance for recommendations. Effective collaboration with peers and stakeholders across US and international organizations.
• Sound judgment, analytical thinking, and problem-solving skills for addressing complex and high-profile issues. Intellectual curiosity and a willingness to independently investigate unfamiliar topics and develop expertise.
• Comfortable operating in ambiguous and evolving environments, developing practical solutions and driving progress when the path forward is not clearly defined. Demonstrated initiative and ownership in advancing work through collaboration with stakeholders.
• Excellent oral and written communication skills, with the ability to effectively communicate complex technical concepts to non-technical stakeholders, both internally and externally.

Travel and location:

• Hybrid position based in New York or Princeton, NJ.
• 5-10% travel to various Munich Re offices

The Company is open to considering candidates in Princeton (NJ) and New York City (NY). The salary range posted below reflects market variations across various locations. The offer will be adjusted per geography.

The base salary range anticipated for this position is $185,800 - $242,000, 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 is adjusted to reflect the varying market conditions across different locations, with the with the higher end being more aligned with the New York City job market.  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.