About the role:

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You will be a member of the Longevity Pricing team, supporting the Pricing Leads in the deliverables of the team. You will also assist the more junior members of the team, provide technical expertise and guidance and also checking their work.

The team delivers Longevity quotes (which includes both production of data/Biometric analysis and Pricing deliverables); input in to deal executions; monitoring of experience on inforce treaties for reporting purposes; support the Basis development team in the review of assumptions for both existing and new propositions; and support the Infrastructure and Tools team with continued improvement and maintenance of our tools and processes. The team will also support the commercial Longevity team on other related activities.

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Your job:

• ·Be an important technical expert within the team across Pricing and Biometric elements, developing technical knowledge relevant to reinsurance pricing for Longevity business.
• Represent the team and communicate results to senior management and other departments.
• Oversee the delivery of accurate and timely work. Checking other team members' work and providing guidance to more junior members of the team.
• Checking work that's produced by the team for quotes and projects, ensuring the accurate use of data and production of experience analysis, setting of appropriate Pricing assumptions and supporting the negotiation of commercial terms.
• Develop an understanding of the financial implications, across all appropriate metrics, of decisions made. Ensuring the right balance between commercial needs and risk is achieved.
• Develop relationships with the commercial Longevity team and construct an important branch wide network of contacts.
• Support the training of more junior members of the Pricing team, providing feedback where appropriate.
• Contribute to the team's on-going drive to ensure we are the most efficient we can be by proposing and supporting improvements to Pricing tools and process' and embracing new technology.
• Support the development of the Longevity basis and assumptions.
• Where required provide support to the development of new Longevity propositions and support the commercial Longevity team on their activities.· Input in to team discussions on non-technical topics (including people and culture) and show an interest in branch wide initiatives.· Develop an understanding of the Longevity market.

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Competencies:

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Drives results (we think big) – you consistently achieve results even under tough circumstances, with the organisation’s performance in the front of your mind. You make good and timely decisions to keep things moving, using analysis, experience and judgement.

Business insight (we think big) – you can apply your knowledge of the business and the market to advance your business’ and wider organisation’s goals.

Collaboration (we lead the ‘we’) – you identify opportunities and bring the right people together to work on a common goal, encouraging diversity of opinion, whilst maintaining clarity and unity of direction.

Client focus (we grow with our clients) – you build and maintain strong client relationships (internal and external), listening to their needs and working with them to ensure value is created.

Cultivates innovation (we grow with our clients) – you create new and better ways for Munich Re to be successful e.g., generating ideas, creating efficiencies, harnessing new technology etc.

Courage (we care and dare) – you are willing to challenge the status quo and address difficult issues, saying what you believe needs to be said. You also continue to operate effectively even when things are uncertain and the way forward is unclear.

Persuades (we are clear and authentic) – you use clear and compelling arguments to gain the support, enthusiasm and commitment of others, whilst ensuring you take time to actively listen to the diversity of views and opinions.

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Your profile:

• Relevant knowledge or experience of the UK life insurance market or relevant pensions knowledge.
• Knowledge of Pricing processes, including experience analysis production/analysis, assumptions setting and modelling methodology. Prior Pricing experience and in particular experience with reinsurance pricing is preferable.
• Strong analytical skills and ability to make judgement calls where there is uncertainty.
• Ability to communicate technical concepts effectively to colleagues from with varying levels of knowledge.
• Effective at dealing with stakeholders from a variety of technical backgrounds and levels of seniority.
• Strong computer literacy, particularly in Microsoft Excel & Word skills but also experience with R, Python, Basic VBA or similar programming. Experience with Power BI is desirable.

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Qualifications and Educational Requirements:

• Newly or nearly qualified Actuary

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Regulatory & Conduct Requirements:

In addition to the responsibilities set out above, the individual will also become responsible for ensuring compliance with Munich Re’s Code of Conduct and the FCA Conduct Rules.

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