Global Longevity Development Actuary (Strategy Lead)

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 (Strategy Lead) supports Munich Re's international longevity expansion ambitions within the Global Longevity Development (“GLD”) team by helping identify, assess and develop 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 maintaining market assessments, supporting the identification, prioritisation and progression of the international longevity opportunity pipeline and supporting market-development activities in priority 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 market analysis, stakeholder coordination, business development support and strategic project management, along with people management, helping ensure Munich Re is well positioned to identify and develop emerging longevity opportunities globally.

The role works closely with the Head of GLD and GLD Pricing Lead to support the delivery of Munich Re's international longevity expansion strategy. While primarily focused on market assessments, stakeholder engagement and opportunity development, the role is also expected to contribute to wider GLD activities, including basis development, transaction support 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 market development, basis development and opportunity progression activities.
• Maintain and regularly refresh assessments of emerging longevity markets and opportunities.
• Coordinate the international longevity opportunity pipeline and support the identification, prioritisation and progression of opportunities.
• Support development of market-entry assessments, business cases and recommendations for priority markets.
• Coordinate engagement with local Munich Re offices and central functions regarding longevity opportunities and market developments.
• Support preparation of presentations, updates and recommendations for senior management and governance forums.
• Assist with client, broker and consultant engagement activity in emerging longevity markets.
• Maintain and communicate insights on competitor activity, emerging opportunities and market developments relevant to Munich Re's international longevity expansion strategy.

• Coordinate market-development projects and strategic initiatives within the GLD team.
• 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 (Strategy Lead) is primarily focused on market assessment, business development support, stakeholder coordination and opportunity pipeline management, while also contributing to wider GLD activities including basis development, quote support and transaction execution, as well as activities across the wider Longevity team where required.

Market assessment and opportunity development (30%)

• Identify, assess and regularly refresh views of emerging longevity markets and opportunities.
• Support identification and prioritisation of target markets and opportunities.
• Assist in the development of business cases for market development initiatives.
• Monitor competitor activity, client demand and market developments.
• Undertake market research and desktop analysis to support strategic decision-making.
• Maintain a view of emerging longevity opportunities globally.

Stakeholder coordination and business development support (30%)

• Coordinate regular engagement with local Munich Re offices regarding longevity opportunities.
• Support client, broker and consultant discussions relating to market development initiatives.
• Assist in preparing client materials, presentations and strategic updates.
• Coordinate internal stakeholder engagement across central functions, risk teams and business units.
• Support organisation of market reviews and opportunity-pipeline discussions.

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 basis development, quote support and transaction activity where required.
• Assist with development of market-testing assumptions and exploratory basis work in priority markets.
• Support preparation of client materials, transaction presentations and internal approvals.
• Work collaboratively with the Pricing Lead to ensure a consistent approach across market development and technical activities.
• Provide support across the GLD team during periods of peak activity or where priorities shift between markets.

Strategy implementation and governance (10%)

• Maintain 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 commercial awareness and interest in market development.
• Strong analytical and problem-solving skills.
• Ability to assess and communicate complex information clearly.
• Strong stakeholder-management and relationship-building skills.
• Excellent written and oral communication skills.
• Experience preparing presentations, reports or business cases.
• Ability to coordinate multiple priorities and projects simultaneously.
• Curious and proactive mindset with an interest in identifying new 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.