Website Munich Re
This Jobsfunter Listing is about Munich Re in London, England, United Kingdom 2022
About the job
Operate and develop the Syndicate’s data structures in relation to the quarterly reserving processes, and provide data analytical support & MI to the actuarial reserving team and wider business. Play a key role in supporting projects to expand the Syndicate’s data science capabilities and automate actuarial processes.
- Provide data analytical support to the actuarial department, maintaining results exhibits and producing / developing reserving MI. Develop new MI tools for Cyber and Financial Lines business.
- Lead the infrastructure development work to improve efficiency of the Syndicate’s actuarial data processes, by moving these to modern technology solutions. This includes migration of Access databases to more long-term sustainable SQL databases.
- Maintain the gross, reinsurance and net reserving spreadsheets and databases. Populate with data, extract results and perform reconciliation checks. Perform allocations of results to currency etc. as required.
- Build and maintain additional reserving information, such as loss triangles including specific IBNRs, and claims notification triangles, conversion rates, and average cost per claim;
- Develop the Syndicate’s data science capabilities over time, participating in projects to apply machine learning and other data science tools to local datasets. For example, using “big data” techniques to analyse Property data obtained through automated underwriting initiatives, and trialling of stochastic reserving techniques such as the Munich Chain Ladder.
- Attend Munich Re black belt IT training courses to gain experience of and access to data science tools, as well as building contacts across the wider Munich Re group.
- Participate in other projects as required, such as the IFRS17 and Data Transformation projects.
- Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
You are required to comply with the PRA and FCA conduct rules:
- Acting with honesty and integrity at all times;
- Acting at all times with due care, skill and diligence;
- Being open and honest with the FCA, the Prudential Regulation Authority (PRA) and all UK regulators at all times;
- Always paying due regard to the interests of customers and always treat them honestly and fairly;
- Observing proper standards of market conduct at all times.
Knowledge and Skills
- Python (advanced)
- R (intermediate)
- Power BI (intermediate)
- MS Access and Excel (advanced)
- SQL (advanced)
Competencies for the Role
Work cooperatively and flexibly with other members of the team with a full understanding of the role to be played as a team member.
Communicate clearly and persuasively, both orally and in writing.
Get things done well and the ability to set and meet challenging goals, create own measures of excellence and constantly seek ways of improving performance.
Analyse situations, diagnose problems, identify the key issues, establish and weigh up alternative courses of action and produce a logical, practical and acceptable solution.
Adapt and work effectively in different situations and to carry out a variety of tasks.
6. Customer focus
Take constant care in looking after the interests of external and internal customers. Ensure that their wants, needs and expectations are given due consideration and that all efforts are made to meet them wherever fair and reasonable, in line with any standards from an industry regulator.
7. Planning and prioritising
The ability to decide on courses of action, ensure that the necessary resources are available and schedule the work required to achieve a defined result in a desirable manner.
8. Share knowledge
Share knowledge about the role you perform fully and willingly with others, where this is relevant, in the interests of the organisation.
Take responsibility for your own career and actively support ‘continuing professional development’.
Education and Professional Qualifications Required / (preferred)
University Degree and/or relevant professional qualification/experience
MRSG UK Services Limited is the employing entity for staff supporting the business activities of Munich Re Syndicate Limited (MRSL), Munich Re Specialty Group Limited (MRSG), Groves, John & Westrup Ltd (GJW), NMU (Specialty) Ltd (NMU) and Roanoke International Brokers Limited (RIBL).
As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Hong Kong, Singapore, Labuan and Dubai. We are also represented in Lloyd’s China.
Our group of companies provide solutions covering Casualty, Marine & Cargo, Energy & Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht.
Known for our dedication to excellence and quality of service provision, we pride ourselves on offering you a great place to work.
Munich Re’s employees are the backbone of the Group’s business success. They are the people that drive the business forward and develop new solutions for our clients.
Ensuring that we recruit talented staff is therefore crucial to our future success. Our objective is to make Munich Re the employer of choice for potential employees on the global job market..
To help us achieve this goal we offer a competitive salary and a generous and comprehensive benefits package which we regularly review in accordance with external market data, to ensure you are paid fairly and our benefits are tailored to suit your lifestyle. Creating an inclusive environment is an essential part of the Munich Re culture and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.
Please Note: All applications must be received via the website. Any CVs received via email will not be considered.
Re_think, Re_engineer, Re_define, Re_invent, the boundaries of Insurance.
Once you hit apply, there is a short, 10 minute application form to complete. Please ensure you attach your current CV when applying and include details regarding your salary expectations. If you have a disability or special need that requires accommodation, please let us know. Due to the high volume, we cannot always provide detailed feedback at CV stage.
Company: Munich Re
Vacancy Type: Full-time · Associate
Job Location: London, England, United Kingdom
Application Deadline: N/A