Career Level 3
We are looking for an Actuarial Analyst for our Technical Pricing Team which falls under the Life Retail Product and Pricing department. The Life Retail Product and Pricing department ensures profitable reassurance business across South Africa and Sub Saharan Africa. This adds to the value of new business and embedded value by pricing appropriately, monitoring experience and managing new product innovations.
Established in 1968, Munich Reinsurance Company of Africa serves life and non-life reinsurance clients across the Sub-Saharan Africa from our hub in Johannesburg. Together with our colleagues globally, we influence, collaborate and can be relied on to tackle the world’s most pressing challenges.
Your Role:
▪ Perform experience reviews and pricing for all regions
▪ Price new business, new initiatives and product development
▪ Ensure that Munich Re’s actuarial and risk management standards are met
▪ Lead/participate in the various projects undertaken by the life team such as tenders, specific client projects and experience analyses.
▪ Coordinate and collaborate with client managers, underwriting, claims, valuations and operations to deliver product propositions.
▪ Support the client management strategy e.g. perform research for and accompany client managers as the pricing expert.
▪ Support Head of the Retail Pricing team and the Head of the Retail team in providing high quality actuarial consulting service to clients in the area of pricing, product development and risk management.
▪ Ensure optimal process efficiency
Your profile:
▪ 4+ years relevant experience in Life reinsurance or insurance business
▪ Newly or nearly qualified actuary
• Pricing Experience with sound technical understanding of Life products including mortality and morbidity rate setting and experience
• Good experience with actuarial modelling packages, Excel, VBA, SQL, Power BI
• Good verbal, communication, presentation and negotiation skills.
At Munich Re, we embrace and value the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation of our open culture and spirit of partnership. It shapes how our teams are built and cultivated and how we are supported and developed. And at the center of this interaction is each of us.
