Senior Reporting & Reserving Actuary (12m FTC)

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Senior Reporting & Reserving Actuary (12m FTC)

Sector: Insurance
Role: Senior Executive
Contract Type: Permanent
Hours: Full Time

About us

At Munich Re Specialty - Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

Please see our website for more information.

Responsibilities:

• Manage, review and participate in actuarial reporting processes for Syndicate 457 for SII TPs, to both Lloyd's and Munich, the other elements of Lloyd's SII Reporting, IR35, and elements of Munich Reporting (e.g. PIRI template).
• Communicate results and key issues to senior management.
• Support and participate in the delivery of other reporting processes to ensure that work is produced on time and to a high standard of accuracy (e.g. IFRS17, Actuarial Day, QMB, US Trust Funds, etc.).
• Participate in, review and manage the quarterly Solvency II calculations and delivery of Lloyd's reporting processes, including QSR, ASR, TPD, etc.
• Manage the day-to-day workflow of actuarial reporting staff supporting you on these processes.
• Ensure that results are produced to a high standard with delivery in line with the Lloyd's reporting timetable.
• Support and review the creation and presentation of key results to the FSC for challenge and sign-off (papers within agreed FSC timescales).
• Participate in, review and manage the reporting team in delivering other Lloyd's reporting processes to a high standard, including QMB, QSR, RRQ and US Trust Funds.
• Support elements of the actuarial delivery of Munich reporting processes, including SII TPs and the PIRI template.
• Support the reporting manager in delivering other Munich reporting processes as needed, including quarterly reporting (Actuarial Day, Outliers, IBLC, AvE) and annual reporting (e.g. MYA).
• Support the quarterly actuarial IFRS17 processes for Group reporting as needed, including reviewing data submissions to Group, reviewing outputs from the Central IFRS17 model and bridging results to other basis (e.g. Solvency II).
• Support development of junior staff through on-the-job training, as well as knowledge share activities (e.g. lunch and learns).
• Work in collaboration with finance on deliverables jointly owned by finance and actuarial (e.g. QSR, TPD, etc.) to ensure consistency and transparency of results.
• Monitor data quality for the reporting processes, including topics such as fast-close data, Munich reporting attributes and policy-level allocations.
• Maintain a log of reporting data quality issues and escalate key points to the business for discussion and resolution.
• Assist with the production of actuarial reports such as the Actuarial Function Report and Annual Reserve Report.
• Contribute to other actuarial reserving and reporting tasks as needed.
• Help drive forward good conduct for the business to deliver the best outcomes for customers / policyholders.

Knowledge and Skills

• Proven extensive actuarial experience in the Lloyd's Market or past work for Munich RE, ideally within an actuarial reporting role. A minimum of six years experience, and three years in Lloyd's Reserving and Reporting.
• Knowledge and understanding of the FCA regulations and Lloyd's requirements.
• In-depth knowledge and understanding of the underlying principles of insurance and reinsurance.
• Highly developed mathematical/statistical knowledge.
• Experience of managing multiple concurrent work strands within a time-pressured environment.
• In-depth knowledge, understanding and practical experience in using a range of actuarial modelling techniques and applications for financial reporting.
• Current Lloyd's market knowledge, including Solvency II, UK GAAP and ideally some FRS17 experience.
• Experience with managing junior members of an actuarial team.
• Willingness to further increase knowledge of Reporting related matters and key market topics and develop technical and management skills.
• Experience with or interest in automation of actuarial processes to meet accelerated timetables.
• Willingness to mentor more junior members of the team.

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don't meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

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