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Actuarial Graduate Trainees (m/f) Munich Re

UK & IRELAND LIFE 

Munich Re is a major global organisation with over 45,000 employees including a team of approximately 100 in our UK & Ireland Life business. We are looking for three university graduates in a mathematical or other numerate discipline to join our UK & Ireland Life business in 2017. We are looking for strong, ambitious candidates with excellent communication skills who are committed to completing the actuarial examinations rapidly. As part of our London based life team, you will be allocated within one of our actuarial departments, but will have the opportunity to learn about the industry, and gain exposure to different units within UK & Ireland Life. We offer a competitive actuarial study package and wider support through your examinations. In addition, you will be receive training on and off the job. This will involve taking part in our Case Study Exercise to gain an early insight into the business, joining our Breakfast Seminar to learn more about the UK businesses, taking part in the Graduate Ideathon collaboration workshop, attending our Insights workshop to develop self-understanding, as well as other soft skills training to suit your individual needs and develop your career at Munich Re. This is an important extension to your development within the role, giving you an excellent overview of Munich Re in the UK and an opportunity to network with others across the business. The salary for this role is competitive. This vacancy was opened on 13 September 2017 and closes on 13 October 2017. 

YOUR JOB

 Key Duties within Structured Reinsurance:

  • Work as part of a small team, to develop and close innovative high / medium value structured reinsurance deals, often involving capital / tax-based solutions
  • Meet expressed client needs
  • Provide expert advice within UK & Ireland Life and the wider Munich Re Group

Key Duties within Pricing:

  • Play a key role on quotes and basis developmentfor individual protection, group protection and longevity business
  • Contribute to the teams on-going drive to improve processes to ensure we are the most efficient and competitive we can be
  • Develop strong client-focused relationships with our business developers and construct an important branch wide network of contacts

Key Duties within Risk Management:

  • Responsible for research and analysis that supports the identification, quantification, remediation and reporting of the risks faced by the business  Provide support to the Head of Actuarial Risk Management

Key Duties within Business Analysis:

  • Carry out experience analyses across a range of products (term assurance, critical illness, income protection and longevity)
  • Maintaining or making necessary developments to the longevity systems
  • Improve processes and tools (spreadsheets, VBA programs and databases) used for either experience analysis or longevity quotes
  • Analyse data as needed i.e. analysing application form data to support the development of underwriting rules

 Key Duties within Financial Reporting:

  • Assist with the production of financial projections, liability valuations and Solvency II calculations
  • Draft written reports and documentation for results and methods employed
  • Contribute ideas and support to the positive development of Financial Reporting

General Duties:

  • Work closely with other technical areas such as accounting, financial reporting, underwriting and claims
  • Play a key role in projects involving the wider Group
  • Progress rapidly through the UK actuarial exams
  • To collate, format and report agent’s new policy records
  • To conduct searches against historic policy records for positive matches relating to claims
  • To assist data extraction and cleansing of historic agents
  • To support the Compliance Manager with project objectives as requested
  • To pursue any outstanding submissions incl. any queries
  • To keep complete and accurate logs of submission/tracing performed
  • To provide input to any reports of ELTO performance
  • To issue communications to stakeholders (as requested)

YOUR PROFILE

  • Strong numerical and analytical skills
  • Good communication skills
  • Team player who enjoys working in an open flat structure
  • Excellent organisational skills
  • Proficient user of Microsoft Office software
  • Practical work experience i.e. internship, part-time position, shadowing, volunteering etc.
  • Sense of responsibility and open mindedness proven by social activities, team work, etc.
  • Excellent English language skills and basic skills of a second language (i.e. GCSE)

Qualifications

  • Degree in mathematics or other numerate discipline
  • Minimum 2:1 achieved / predicted and good A level grades

Munich Re is one of the world's leading reinsurance companies with more than 11,000 employees at over 50 locations around the globe. We are working on topics today that will concern the whole of society tomorrow, whether that be climate change, major construction projects, gene technology or space travel. We find solutions to these challenges through a network of highly qualified professionals who anticipate risks, work on tailor-made solutions and expertly advise our clients. If you want to help shape the future as part of one of our teams, we look forward to hearing from you. 

* Munich Re not only stands for fairness with regard to its clients; it is also an equal opportunities employer

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