Life Actuarial Assistant (2027 New Grad Permanent - New York)

Together, we engage with everything we have and are, to help humankind act braver and better. As the world’s leading reinsurance company with more than 40,000 employees in over 50 locations globally, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into manageable risk, we enable fundamental change. We recognize Diversity, Equity, and Inclusion as a key priority with a culture that welcomes different thoughts and opinions. We dare to think big and are continuously innovating on behalf of our clients.

Munich Re Life US is hiring for its next class of permanent entry-level Actuarial Assistants for its rotational program in New York City. You will be expected to relocate to the greater New York area to meet our hybrid working model of at least 3 days a week in office. This policy is subject to change based on business requirements.

About the role

The Actuarial Assistant program at Munich Re is a rotational program designed to provide you with a strong foundation in the field. Departmental placements will be made closer to your start date based on internal business needs. The rotations will enable you to enhance your technical skills while gaining a holistic perspective of our business, positioning you for greater leadership opportunities in the future. You will engage in meaningful actuarial projects with a variety of teams while working towards your FSA designation with organizational support.

Placement and rotational opportunities involve numerous departments, including:

• Biometric Research: Assist with experience studies and quote reviews for Life, Longevity, and Long Term Care lines of business. Analyze mortality and persistency trends using experience studies, conduct research on key trends within the US general population, and work with large datasets.
• Corporate Actuarial: Provide financial results for the US Life & Health business, collaborate across functions to set assumptions for policy liabilities, build and manage complex actuarial models, and analyze business performance under current and upcoming regulations.
• Pricing (Individual Life Flow, Inforce & M&A, Alternative Solutions, Group, Living Benefits, and Financial Reinsurance): Focus on acquiring and maintaining new business through client relations, innovative solutions, and product profitability evaluations. Work on high-impact projects including client strategies, actuarial modeling, profit metrics reporting, market research, and special business quoting.

Requirements

• Bachelor’s or Master’s degree in Actuarial Science, Math, Statistics, Risk Management, or equivalent program, in healthy academic standing.
• Completion of at least two actuarial exams with demonstrated progress towards ASA designation.
• Relevant work experience, including at least one internship or co-op work term.
• Excellent communication skills, both spoken and written, with experience in formal/informal presentations.
• Demonstrated ability to create and manage positive professional relationships with strong client service acumen.
• Proven capability to multi-task and self-manage multiple priorities and projects in a fast-paced environment.
• Strong organizational skills and rigorous attention to detail/accuracy.
• Leadership qualities, including clear thinking, curiosity, integrity, and drive.
• Proficiency in Microsoft Excel, Access, and Word.

Preferred Qualifications

• Programming skills (e.g., Python, Java, VBA, C/C++/C#).
• Familiarity with GGY Axis.
• Experience with actuarial or financial modeling.
• Knowledge of the life insurance industry and products.

Benefits

We offer a wide range of insurance benefits for employees, their domestic partners, and children:

• Two health insurance plan options (PPO or High Deductible) with prescription drug coverage.
• Vision and dental insurance plans.
• Basic life insurance equal to 1x annual salary and AD&D coverage at no cost.
• Short and Long-Term Disability coverage.
• Supplemental Life and AD&D plans for purchase (covering self, spouse/domestic partner, and children).
• Voluntary Benefit plans (Accident, Critical Illness, and Hospital Indemnity).

Additional benefits include:

• A robust 401k plan with up to a 6% employer match.
• Comprehensive Actuarial Student Program offering paid study time, exam fee reimbursement, study resources, and rewards for exam milestones.
• 24 days of paid time off annually, increasing with service milestones.
• Eligibility for a yearly performance bonus.
• Health and wellness programs, including a gym fitness reimbursement.
• Paid time off for eligible family care needs and community volunteering.
• Corporate matching gifts program for charitable donations.

Pay

For New York City-based employees, the base salary range for this position is $86,000 - $115,000, plus an opportunity for an annual company bonus based on a percentage of eligible pay.