Senior Actuarial Analyst - Life Valuations

Career Level 3

Company

Munich Re

Location

Johannesburg , South Africa

Munich Reinsurance Company of Africa Limited (MRoA) has been operating in South Africa for over 50 years, although the Munich Re (Group) was active on the Continent via Munich Re in Munich for some years before commencing the Southern African operation in Johannesburg in 1968. The Head Office of MRoA is in Johannesburg, with a client service Life office situated in Cape Town.

Your Business Unit:

The Life Corporate Actuarial Department produces regular valuations of the Life business written in Africa, assesses capital requirements and monitors profitability. The Business Unit reports directly to the Chief Financial Officer.

Your Team:

The team is made up of a diverse group of graduates, analysts and qualified actuaries and collaborates closely with the accounting and finance departments as well as valuation counterparts in Munich and Singapore. 

Your job:

• Analysis of Valuation Data
• Perform tasks related to quarterly reserving activities i.e. calculation of prospective reserves, IBNR and monitoring of claims experience
• Assist with regular reporting for IFRS17, IFRS9, SII and SAM to stakeholders
• Provide input and support with the Annual ORSSA process
• Assist with ad hoc model and assumption changes
• Mentorship of graduate trainees

Your profile:

• Bachelor’s degree in Actuarial or Business Science
• At least 6 actuarial exams
• At least three years of work experience
• Intermediate knowledge of reserving
• Understanding of life actuarial modelling
• Some life insurance product knowledge
• Strong communication and interpersonal skills
• Ability to work under pressure

Our Benefits

• Life and Health Benefits.
• Retirement Benefits.
• Hybrid working environment.
• Bonus Scheme.
• Employee Assistance Program.
• Wellness Programs.
• Global Mobility

You will work in an environment where we aspire to think big: Change and culture are challenged. We communicate a compelling and shared purpose 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 aim to communicate in a clear & authentic way: We solicit feedback, ask and listen, learn and unlearn.

You will grow with your clients: Whatever our role, we support business, in a thoughtful way, to create value for our clients. We embrace new ways of working applying digitalization to provide solutions.

We lead the We: We have a passion for winning and growing as a team. We inspire people to deliver a joint performance. We create an inclusive environment where different thoughts, generations, cultures and experiences are valued and encouraged.

#LI-Hybrid

This is a permanent position and is based in Johannesburg, South Africa. 

The closing date for this opening is 08 March 2024.

Please apply to the advert or through our careers page. We do not accept CV's by email. We do respond by email to all applications received through our advert. If you have not heard from us, please check your spam email folder.

If you have any queries, please contact the Talent Acquisition Specialist, Sumenthra Kander at Skander@munichre.com.

About Munich Re:

Founded in 1880, Munich Re Group is on the world's leading providers of primary insurance, reinsurance and insurance related risk solution. As pioneers in risk assessment, we promote the digital transformation of the global insurance landscape, expanding products and services as new forms of risk emerge. From space rocket launches to cyber-attacks, from high net worth individual life cover to pandemic, we take care of risk, so our clients can take care of their business.

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