Application Closing Date : Friday, 13th November

Together, we engage with everything we have and are, to help humankind act braver and better.

About UK Life Branch:

With the office in Munich, it forms the Life 1 division of Munich Re. The UK life market is one of the, if not the, most competitive life markets in the world. We understand that Life insurers work in a dynamic market where medical progress, demographic trends and changing lifestyles are constantly giving rise to new risk landscapes. This demanding situation is made even more challenging by changing laws and regulations and ever tougher competition. So we need a smart strategy and structure in order to succeed.

At UK & Ireland Life we have three pillars to our business strategy, protection, longevity and reinsurance structuring. All three are key to the success of our business so it's important to look at the big picture.
In terms of clients, we trust them as experts of their business and provide them with the financial strength of the world's largest reinsurer, global expertise and sharp pricing so that they are both competitive and profitable.

About the role:

The Global Longevity Development Actuary (Pricing Lead) supports Munich Re's international longevity expansion ambitions within the Global Longevity Development ("GLD") team by developing and maintaining the technical capability required to assess and transact longevity opportunities across global markets that are outside Munich Re's established longevity business.

Working closely with the Head of Global Longevity Development, local Munich Re offices and other internal stakeholders, the role is responsible for the development of market-testing assumptions, pricing methodologies and exploratory bases for new longevity markets. The role may also be responsible for managing and developing actuaries within the GLD team working to support various elements of the overall GLD strategy, or actuaries in the wider longevity team.

The role combines technical longevity expertise, basis development, pricing support and strategic project management, along with people management, helping ensure Munich Re is well positioned to assess and support emerging longevity opportunities globallythrough robust market-testing assumptions, pricing methodologies and technical capability.

The role works closely with the Head of GLD and GLD Strategy Lead to support delivery of Munich Re's international longevity expansion strategy. While primarily focused on basis development, pricing readiness and transaction support, the role is also expected to contribute to wider GLD activities, including market assessments, stakeholder engagement and strategic initiatives, as well as activities across the wider Longevity team where required.

This is a great opportunity for a technically strong and ambitious individual to join a highly successful, friendly and growing team in an exciting, challenging and rewarding environment.

Key Responsibilities:

• Support the development and delivery of Munich Re's international longevity market development strategy.
• Support the Head of GLD in coordinating and delivering the wider GLD mandate across basis development, pricing and execution activities.
• Develop and maintain market-testing assumptions and exploratory bases for emerging longevity markets.
• Support pricing readiness for prospective international longevity opportunities.
• Develop and maintain methodologies, models and analytical tools used in market assessments and transaction pricing.
• Ensure Munich Re's longevity pricing tools, methodologies and analytical capabilities remain fit for purpose to assess and support international longevity opportunities, identifying enhancements where required.
• Support development of technical assessments, pricing analysis and recommendations for priority markets.
• Coordinate technical engagement with local Munich Re offices and central functions regarding longevity opportunities and market developments.
• Support preparation of technical papers, pricing analyses and recommendations for management and governance forums.
• Maintain awareness of developments in pricing methodologies, competitor approaches and longevity market practice.
• Effectively manage, develop and support actuaries within the Longevity team.
• Nurture the team culture, support personal development and drive results.
• Promote collaboration and knowledge sharing across the Longevity function and wider Munich Re Group.

General Duties and Tasks:

The Global Longevity Development Actuary (Pricing Lead) is primarily focused on market-testing assumptions, basis development, pricing support and technical readiness for international longevity opportunities. The role is also expected to contribute to wider GLD activities, including market assessments, business development support and strategic initiatives, as well as activities across the wider Longevity team where required.

Basis development and technical assessment (30%)

• Develop and maintain exploratory assumptions and market-testing bases for target markets.
• Assess data availability, market practice and technical feasibility within emerging longevity markets.
• Support the development of pricing methodologies for new longevity opportunities.
• Maintain technical frameworks used in international market assessments.
• Monitor developments in longevity assumptions, pricing methodologies and competitor approaches.

Pricing support and transaction readiness (30%)

• Support indicative and formal pricing work relating to emerging longevity opportunities.
• Ensure the availability and suitability of pricing tools, analytical frameworks and technical methodologies required for international longevity opportunities, working with the Pricing Infrastructure team where required.
• Provide technical input into client discussions and business-development activities.
• Support assessment of transaction structures, capital considerations and commercial viability.
• Prepare pricing analyses, technical recommendations and supporting materials.
• Support transition of opportunities from market development into active transaction pricing where appropriate.

Contribution to the wider GLD team (20%)

• Support the Head of GLD in delivering the wider GLD mandate and international longevity expansion strategy.

• Manage members of the GLD team or Longevity team as required; nurturing team culture, supporting personal development, and driving results.

• Contribute to opportunity prioritisation, market assessments and business-development activities where required.
• Support preparation of client materials, transaction presentations and internal approvals.
• Work collaboratively with the Strategy Lead to ensure market assessments, opportunity prioritisation and client-engagement activity reflect technical capability and market readiness.
• Provide support across the GLD team during periods of peak activity or where priorities shift between markets.

Strategy implementation and governance (10%)

• Provide technical input into the international longevity opportunity pipeline and associated reporting.
• Support preparation of updates for senior management and governance forums.
• Track progress of priority markets and strategic initiatives.
• Monitor delivery against agreed objectives and priorities.
• Support governance processes for market-development activities.

General Longevity team (10%)

• Support wider Longevity Team initiatives where required.
• Work with the Head of Longevity and Deputy Head of Longevity to assist in a variety of Longevity projects and development workstreams as necessary, which may include assessing quote attractiveness, new business pricing, or work to enhance our proposition for existing markets.
• Work with the Head of In-Force on in force related projects as required to manage our existing portfolio.
• Promote knowledge sharing across teams and locations.
• Maintain awareness of developments in longevity and annuity markets.
• Support wider branch as required.
• Undertake any additional duties and responsibilities that may reasonably be expected in accordance with the role.

Competencies:

Strategic mindset (we think big) - you look, plan and move into the future with clear intentions and purposeful actions, seeking regular feedback, that allows you to make decisions today that will lead the business towards its future commitments.

Ensures accountability (we lead the 'we') - you hold yourself and others accountable to take responsibility and meet commitments, creating a culture where people own their decisions and actions and appreciate how they contribute to the team/organisation commitments.

Managing complexity (we grow with our clients) - you make sense of complex and sometimes contradictory information to effectively solve problems, learning and sharing along the way.

Sponsors work (we care and dare) - you know when to lead and when to let others lead, providing direction and delegating to others, empowering and trusting them to achieve their commitments. Develops talent (we care and dare) - you develop the team to meet their career ambitions, building capability at an individual and organisational level, preparing them for future opportunities. You discuss feedback and development regularly and promote a diverse and inclusive workforce.

Being resilient (we are clear and authentic) - setbacks are unavoidable; however, you recover quickly, seek feedback, learn and unlearn and move forward with courage and commitment.

Key Skills & Experience:

Essential

• Experience within longevity, pensions de-risking, life insurance or reinsurance markets.
• Strong understanding of longevity pricing and basis development.
• Strong analytical and problem-solving skills.
• Ability to assess and communicate complex information clearly.
• Experience developing assumptions, models or pricing methodologies.
• Excellent written and oral communication skills.
• Ability to work across multiple priorities and projects simultaneously.
• Strong stakeholder-management skills.
• Ability to balance technical rigour with commercial judgement.
• Curious and proactive mindset with an interest in emerging longevity opportunities.
• Willingness to challenge existing approaches and contribute new ideas.

Desirable

• Understanding of international longevity markets.
• Longevity, annuity or reinsurance experience.
• Experience supporting business development or strategic initiatives.
• Experience working across multiple geographies and cultures.
• Familiarity with longevity risk-transfer products.
• Existing network within longevity-related markets.

Qualifications and Educational Requirements:

• Qualified actuary
• Directly relevant actuarial experience of the bulk annuity/longevity swap market, preferably including non-UK markets.

Thought Leaders:

• You are seen as an expert in your field and will be the 'go to' person for your area of specialism within Munich Re. You will be seen as a role model/mentor to others - identifying opportunities to share your knowledge with others.
• You will demonstrate and role model inclusive behaviour and encourage your colleagues to play an active role in creating an inclusive culture as well.
• You will treat your colleagues and sales and business partners fairly and with respect.

Regulatory & Conduct Requirements:

• Ensuring compliance with Munich Re's Code of Conduct and the FCA Conduct Rules

Benefits:

You will be rewarded with a great compensation package, on target bonus, 25 days annual leave with the option to purchase more along with private medical insurance and employers' contributory pension of 10%

We are one of the few employers to offer fully paid 6months family leave for times when you need it the most.

About us:

You will work in an environment where we think big: Change and culture are continuously role-modelled. We create and articulate a compelling and ambitious shared purpose, vision and direction. We pave the way towards success and see failure as learning

You are going to experience that we care & dare: We are empathetic. We know when to lead and know when to let others lead. We attract, grow and coach future leaders

We communicate in a clear & authentic way: We interact with a positive and humble spirit. We solicit feedback, ask and listen, learn and unlearn

You will grow with your clients: Whatever our role, we support business, in an efficient and effective way, to create value for our clients. We embrace new ways of working using digitalisation to deliver solutions

We lead the We: We have a passion for winning and growing as a team. We inspire people to be capable of joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged

At Munich Re, embracing the power of differences is at the core of who we are. We believe diversity fosters resilience and innovation and enables us to act on our purpose of helping humankind act braver and better. 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.

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!

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.