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  • Chief Actuary: Munich American Reassurance Company, New York City, NY

    October 8, 2019 by Munich American Reassurance Company

    Munich Re Life US aspires to be the premier reinsurance business partner that delivers exceptional value to our clients and stakeholders. As the US-based life subsidiary of one of the world’s largest reinsurance companies, we are the industry leader in delivering world-class service and solutions to many of the most recognized insurance companies around the globe. We offer a highly competitive total compensation package that rewards hard work and success.

    The Chief Actuary leads and manages the Corporate Actuarial department for Munich Re US (Life). The Corporate Actuarial department is responsible for IFRS, US Stat and Tax reserving, financial planning and analysis, capital planning and monitoring, model development, and Solvency II reporting. The Chief Actuary oversees the work of the Appointed Actuary of the company. The selected candidate will be a strategic leader with a solid balance between industry knowledge, technical competency and passion for motivating a high-performance team. The leader must be comfortable driving change, navigating ambiguity and producing results within the US Life Reinsurance operation of one of the world’s largest reinsurers.

     

    Responsibilities:

     

    • Valuation and financial reporting (40%)
    • The setting and ongoing review and updating of valuation assumptions for all treaties and lines of business. The VP and Chief Actuary is the “gatekeeper” of the best estimate actuarial assumptions.
    • Timely preparation of quarter and year-end reserves and financial reports on statutory, GAAP/IFRS, and SII bases;
    • Rendering of necessary formal actuarial opinions and disclosure statements;
    • Development of revised methods and procedures in response to changes in valuation or reporting standards (ie PBR and IFRS 17);
    • Implementation of new methods and procedures as Munich Re or external governing bodies establish new standards.
    • Manage Valuation System continuous improvement projects on GGY Axis Platform (15%)
    • Lead staff in identifying and prioritizing model and data sourcing improvements.
    • Review modeling for new treaties to ensure risks are appropriately modeled;
    • Development and implementation of superior management information reporting (20%)
    • Lead analysis and development of actionable insights in the face of external timelines and imperfect information;
    • Foresee issues and effectively communicate commercial implications of nuanced technical topics.
    • Planning process information support (15%)
    • Develop and maintain projections for strategic and financial planning processes;
    • Coordination with Munich on various aspects of planning and financial management
    • Assessment of methods for improving capital management.
    • Other projects and management support (10%)
    • Valuation of blocks of business or companies for acquisition;
    • Evaluation of new products and markets
    • Assure processes comply with NAIC Model Audit Rule
    • Providing support for audits;
    • Providing information to rating agencies.

     

     

    Requirements:

     

    • FSA designation
    • 15 + years of industry experience with at least 5 years gained in a valuation/financial reporting capacity within a life insurance or consulting setting (required)
    • Reinsurance experience (preferred)
    • Experience effectively managing a team and developing talent (required)
    • Solvency II experience (required)
    • Actuarial modeling experience (required)
    • A blend of insurance company and consulting experience (preferred)
    • Axis experience (preferred)

    How you match

    Criteria provided by job poster

    Skills

    • No match

      German Generally Accepted Accounting Principles (GAAP)

    • No match

      Disclosure Statements

    • No match

      Canadian Generally Accepted Accounting Principles (GAAP)

    • No match

      Analytical Skills

    • No match

      Valuation

    • No match

      Solvency

    • No match

      Solvency II

    • No match

      Financial Reporting

    • No match

      French Generally Accepted Accounting Principles (GAAP)

    • No match

      Dutch Generally Accepted Accounting Principles (GAAP)

    Job Details

    Seniority Level

    Executive

    Industry

    • Insurance

    Employment Type

    Full-time

    Click HERE to view via LinkedIn.

    Originally Posted at LinkedIn on September 2019 by Munich American Reassurance Company.

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