We are looking for a Actuarial Expert (m/f/d) to join our Actuarial Risk Modeling team in Munich, Germany.

Your Team

You will join our Actuarial Risk Modeling team within the CFO Board Unit. The team develops, maintains and documents P&C underwriting risk models for the Solvency II internal model, working closely with Actuarial, Finance and other business areas.

In this role, you will contribute to global actuarial approaches, improve models and analyses, and support projects related to risk modeling, Solvency II, IFRS17, business steering and capital optimization. You will also review outputs and support junior colleagues in their day-to-day work.

The Impact You Will Have

As Senior Actuarial Analyst, you will create and run risk models, document and explain results, and communicate insights to stakeholders. You will manage your own projects, collaborate with areas such as Group, Underwriting, Market Management and CFO, and help translate business developments into actuarial and financial impacts. Your work will support Solvency II requirements, capital optimization, business steering and the delivery of key projects.

Responsibilities

• You will create and run P&C underwriting risk models, including documentation, explanation and communication of results.
• Analyze model outputs, identify key risk drivers and translate findings into clear insights for actuarial, finance and business stakeholders.
• Collaborate with Group, Underwriting, Market Management, CFO and other teams to explain how business developments impact actuarial and financial results.
• Support Solvency II internal model activities, including model development, calibration, validation, governance and documentation.
• Contribute to IFRS17, business steering, capital optimization and other actuarial or finance-related projects.
• Develop and improve global actuarial approaches, processes, models and analyses to support consistent and efficient ways of working.
• Manage and drive forward your own area of responsibility or project, ensuring high-quality delivery within agreed timelines.
• Prepare clear model documentation, reports and presentations for technical and non-technical audiences.
• Review work from colleagues and provide guidance to junior team members.

What You'll Bring

• A degree, ideally at Master's level, in Mathematics, Statistics, Actuarial Science or a related discipline, or equivalent experience. Actuarial exams or papers are an advantage.
• Actuarial experience in areas such as reserving, risk or pricing, ideally gained over 5 to 7 years.
• Experience developing or implementing stochastic models, analyses or processes, ideally gained over 3 to 5 years.
• Experience communicating analysis and results clearly to stakeholders.
• Strong computer skills, including MS Office with VBA and tools such as RESQ, IGLOO, R, Python or SQL.
• Experience working in an international environment and knowledge of market dynamics, actuarial concepts, regulations, compliance standards, reporting requirements, reinsurance, underwriting, reserving techniques and data flows.
• Finance and insurance knowledge, ideally in P&C, with an understanding of insurance group structures, consolidation processes and legal versus management views.
• You bring quantitative financial and risk modeling know-how and skills.
• You bring analytical thinking, clear communication, influencing skills, problem-solving ability and confidence working with complex topics.
• A willingness to learn and explore how AI can enhance your role and the broader organization is expected
• Fluent English; German or another additional language is an advantage.

105459 | Actuarial | Non-Executive | Allianz Commercial | Full-Time | Permanent

What's in it for you?

Let's care about everything that makes you, you

We are committed to nurturing an inclusive environment where everyone feels they belong. We offer a hybrid working model, which recognizes the value of striking a balance between in-person collaboration and remote working. Please feel free to discuss flexible working arrangements with us.

Let's care for your financial wellbeing

We believe in rewarding performance with a great compensation and benefits package (details vary by location), including a generous bonus scheme and pension.

Let's care for your opportunities to progress

From career development and digital learning programs to international career mobility, we offer lifelong learning for our employees worldwide and an environment where innovation, delivery and empowerment are fostered.

Let's care for life's twists and turns

From our support for flexible working, health and wellbeing (including private healthcare and generous parental leave benefits), to helping people return from career breaks with experience that nothing else can teach. We've got your back.

Let's care for our society and our planet

With opportunities to be engaged in shaping a future that is safe, inclusive and sustainable, we care for the tomorrows of our people, our industry and our clients.

Care to join us?

Allianz Commercial is the center of expertise of Allianz Group, insuring mid-sized businesses, large enterprises, and special risks. Our customers include top consumer brands, financial institutions, industry leaders, the global aviation and shipping industries, as well as family-owned and medium-enterprises. We also cover unique risks such as offshore wind farms, infrastructure projects and film productions. Our clients trust us to provide a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services, and seamless claims handling. Allianz Commercial helps customers to prepare for what's ahead.

Learn more about careers at Allianz Commercial by clicking here.

Learn more about Allianz Commercial by clicking here.

At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. And the foundation for this is our inclusive workplace, where people and performance both matters, and nurtures a culture grounded in integrity, fairness, inclusion and trust.

We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.

Join us. Let's care for tomorrow.

People with disabilities:
We want to give all our candidates the best opportunity to succeed. If you need any adjustments to be made during the application and selection process, please email agcsglobalcareers@allianz.com

Recruitment Agencies:
Allianz Commercial has an in-house recruitment team, which focuses on sourcing great candidates directly. Allianz Commercial does not accept unsolicited resumes from agency or search firm recruiters. Fees will not be paid in the event a candidate submitted by a recruiter without an agreement in place is hired. When we do use agencies, we have a PSL in place, so please do not contact managers directly. Failure to comply could/may result in the disqualification of the candidates and/or the termination of our contract and/or fees not being paid.