Actuarial Intern, US Life (2024 Summer - New York, 4 months) Job Details | Munich Re Careers

Summary

American Modern Insurance Group is a leading reinsurance company that offers a unique opportunity for students to apply their academic knowledge in a real-world setting. The Actuarial Intern will work closely with Actuarial Associates and Actuaries, engaging in various responsibilities across departments such as Corporate Actuarial and Enterprise Risk Management.

Responsibilities

• Conduct Embedded Value calculation and assist in quarter-end financial reporting
• Coordinate termination, IBNR, and lapse experience studies
• Assist in the completion of experience studies to determine best estimate pricing assumptions
• Prepare and utilize financial analysis models for use in finalizing quarterly Group results
• Assist with modeling of Living Benefits reinsurance quotes, prepare and communicate profitability and pricing reports
• Analyze last year’s new business block and assist with reviewing new business trend and profitability
• Prepare and communicate profitability and pricing reports, reinsurance proposals, treaty documentation, and amendments
• Active involvement with client communications
• Analyze client and competitor financials to identify potential reinsurance opportunities
• Assist with all aspects of Enterprise Risk Management; including risk identification, assessment, and reporting – both in the normal course of business as well as for special projects

Skills

• Currently pursuing an Undergraduate or Master's degree in Actuarial Science, Math, Statistics, Risk Management, or equivalent program – in healthy academic standing
• Successful completion of one SOA exam
• Excellent communication skills – spoken & written, formal/informal presentation
• Proven capability to multi-task and successfully self-manage multiple priorities and projects of various significance
• Exhibits solid organizational skills and rigorous attention to detail/accuracy in a fast-paced environment
• Demonstrates leadership qualities – clear-thinking, curiosity, integrity, and drive
• Proficient Microsoft Excel skills
• Preference for candidates who have relevant work experience (in actuarial, insurance, or financial services desired)
• Successful completion of two or more SOA exams preferred

Qualifications

Must Haves

• Currently pursuing an Undergraduate or Master's degree in Actuarial Science, Math, Statistics, Risk Management, or equivalent program – in healthy academic standing
• Successful completion of one SOA exam
• Excellent communication skills – spoken & written, formal/informal presentation
• Proven capability to multi-task and successfully self-manage multiple priorities and projects of various significance
• Exhibits solid organizational skills and rigorous attention to detail/accuracy in a fast-paced environment
• Demonstrates leadership qualities – clear-thinking, curiosity, integrity, and drive
• Proficient Microsoft Excel skills

Nice to Haves

• Preference for candidates who have relevant work experience (in actuarial, insurance, or financial services desired)
• Successful completion of two or more SOA exams preferred

Benefits

• Munich Re is operating under a hybrid working model, including at least 3 days in office/week.
• Students are expected to relocate to the city in which they work for the duration of their co-op, so they can fully benefit from the full program integration.
• Coached by experienced industry professionals
• Exposed to Munich Re leadership
• Challenged as a valuable team member and contributor doing meaningful work
• Mentored to develop a solid foundation that will help position you as a future leader in the field.