Pricing Infrastructure Developer

Munich RE • Full-time • London, GB-LND, GBR • 1w ago

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 role holder will be a technical and coding expert, responsible for ensuring continuous improvements of the systems and tools used within the Pricing division, across all lines of business. This includes leading on transformation projects to ensure that the tools used continue to meet the needs of the business, and managing development and testing.

Key Responsibilities:

Be a key technical expert for processes and tools across the Pricing division.

Develop technical knowledge and expertise relevant to the tools used within reinsurance Pricing.

Use technical and coding expertise to both maintain existing toolsets, and develop and implement new tools and processes.

Propose improvements to Pricing tools and processes to ensure that we are the most efficient we can be.

Work closely with the wider Pricing Division, IT and Third Party providers to ensure that development meets the needs of the business.

Provide technical input into to the development of tools, including best practices on programming, development and testing. Guide and oversee the work of more junior members of the Protection and Longevity Pricing Teams in delivering and testing tools.

Take a business lead role in the delivery of transform projects – ensuring stakeholders are kept up to date and that projects are sufficiently resourced.

Ensure that training on systems and tools is delivered within the division.

Take responsibility for the delivery of accurate and timely work.

Represent the team and communicate updates and decisions to senior management and other departments.

Support the development of more junior members of the Pricing Division by setting expectations, providing feedback and looking for opportunities where they can challenge themselves.

Input into team discussions to help set the direction of the team, inputting into non-technical topics (including people and culture).

Competencies:

Drives results (we think big) – you consistently achieve results even under tough circumstances, with the organisation’s performance in the front of your mind. You make good and timely decisions to keepthings moving, using analysis, experience and judgement.

Business insight (we think big) – you can apply your knowledge of the business and the market to advance your business’ and wider organisation’s goals.

Collaboration (we lead the ‘we’) – you identify opportunities and bring the right people together towork on a common goal, encouraging diversity of opinion, whilst maintaining clarity and unity of direction.

Client focus (we grow with our clients) – you build and maintain strong client relationships(internal and external), listening to their needs and working with them to ensure value is created.

Cultivates innovation (we grow with our clients) – you create new and better ways for Munich Re to be successful e.g., generating ideas, creating efficiencies, harnessing new technology etc.

Courage (we care and dare) – you are willing to challenge the status quo and address difficult issues,saying what you believe needs to be said. You also continue to operate effectively even when thingsare uncertain and the way forward is unclear.

Persuades (we are clear and authentic) – you use clear and compelling arguments to gain thesupport, enthusiasm and commitment of others, whilst ensuring you take time to actively listen to the diversity of views and opinions.

Key Skills & Experience:

Significant and relevant knowledge or experience of the UK insurance market.

Knowledge of systems and tools used within Pricing processes and actuarial modelling. Prior experience within reinsurance is preferable.

Strong programming skills with a required proficiency in Python; familiarity with R, SQL, VBA, or similar languages is considered an advantage. Prior experience in coding or developing tools is preferable.

Familiarity with Git and cloud-based platforms (e.g., Microsoft Azure) is a plus.

Ability to grasp new concepts and technical issues quickly.

Strong analytical skills and ability to make judgement calls where there is uncertainty.

Ability to train others on tools development and testing practices, and end users to how to use tools.

Ability to communicate technical concepts effectively to colleagues from with varying levels of knowledge.

Ability to work effectively with IT teams and developers by communicating business requirements.

Confidence and diplomacy to challenge peers and manage upwards.

Effective at dealing with stakeholders from a variety of technical backgrounds and levels of seniority.

Ability to build an understanding of internal strategy and needs of the division.

Qualifications and Educational Requirements:

Part Qualified or Qualified Actuary, or actuarial experience.

Thought Leader:

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:

In addition to the responsibilities set out above, the individual will also become responsible for 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.

Diversity Equity & Inclusion

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.