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, 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.

About the role

Munich Re Life US is hiring for its next class of permanent entry-level Actuarial Assistants for its rotational program. We’re seeking client-focused individuals looking to join a team that will lead them on the path towards a successful career in the insurance space. All rotations will take place 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.

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. Within the rotations, you will engage in meaningful actuarial projects with a variety of teams while working towards your FSA designation—with full support from the organization.

Responsibilities

Placement and rotational opportunities involve numerous departments, including:

• Biometric Research: Complete experience studies and assist with quote reviews for different lines of business (Life, Longevity, Long Term Care). Analyze mortality and persistency trends within the life insurance industry using experience studies, and conduct research on key trends within the US general population. Gain skills through working with large datasets, balancing multiple projects, and learning from industry experts.
• Corporate Actuarial: Provide financial results for the US Life & Health business by collaborating with various functions across the company. Set assumptions for calculating policy liabilities, build and manage complex actuarial models, learn about current and upcoming regulations, perform business analysis, and work with other departments to develop creative solutions.
• Pricing (Individual Life Flow, Inforce & M&A, Alternative Solutions, Group, Living Benefits, and Financial Reinsurance): Focus on acquiring and maintaining new business through strong client relations, innovative solutions, and evaluating product profitability. Understand key drivers of profitability due to changes in assumptions, reinsurance agreements, industry trends, and product design. Work on high-impact projects, including developing client strategies, building complex actuarial models, reporting key profit metrics, performing market research, and quoting on special business.

Requirements

• Bachelor’s or Master’s degree in Actuarial Science, Math, Statistics, Risk Management, or an 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 relevant internship or co-op work term.
• Excellent communication skills—spoken and written, including formal and informal presentations.
• Demonstrated ability to create and manage positive professional relationships with strong client service acumen.
• Proven capability to multi-task and successfully self-manage multiple priorities and projects of various significance.
• Solid organizational skills and rigorous attention to detail/accuracy in a fast-paced environment.
• Leadership qualities: clear-thinking, curiosity, integrity, and drive.
• Proficient 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

• Insurance Benefits:
  • Two health insurance plan options (PPO or High Deductible).
  • Prescription drug coverage included in health insurance.
  • Vision and dental insurance plans.
  • Basic life insurance equal to 1x annual salary and AD&D coverage equal to 1x annual salary at no cost.
  • Short- and Long-Term Disability coverage.
  • Supplemental Life and AD&D plans available for purchase for yourself and dependents (includes spouse/domestic partner and children).
  • Voluntary Benefit plans (Accident, Critical Illness, and Hospital Indemnity) to supplement health and life insurance.
• Retirement & Financial:
  • 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 achieving exam milestones.
  • Yearly bonus eligibility.
  • Corporate matching gifts program to enhance charitable donations.
• Time Off & Wellness:
  • 24 days of paid time off annually, with additional days added for milestone service anniversaries.
  • Paid time off for eligible family care needs.
  • Paid time off to volunteer in your community.
  • Gym fitness reimbursement and a variety of health and wellness programs at no cost.

Pay

The base salary range for this position in New York City is $86,000 - $115,000, plus opportunity for a company bonus based on a percentage of eligible pay. Most candidates will start in the bottom half of the range.

Schedule

Hybrid working model requiring at least 3 days a week in the New York City office. This policy is subject to change based on business requirements.