Actuarial Risk Analyst

2 weeks ago

Johannesburg, Gauteng, South Africa Munich Re Full time

Actuarial Risk Analyst:

Careel Level 3

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 prior to 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.


This is an important position in the Risk Services space which services all lines of business from a regulatory framework perspective - covering topics like ORSA / Information Security / Business Continuity / Operational Risk Control System.

This is not a hands-on pricing/modelling role although technical capability and skills are required to fulfil this role due to the level of oversight and reporting that is required.


You will be suited to this role if you are a technical specialist who would like to step away from the daily pricing/modelling role to that of an oversight, specialist risk reporting position.

It is an expert role within the team and you will need to present at EXCO level.

Your job

You will bear responsibility for:
Contribution to and assistance with all analysis and review tasks performed to satisfy the requirements of the Risk Team to:

  • Establish risk management framework, as approved by the Risk and Compliance Committee and reviewed by the Board;
  • Report on risk management progress and issues to the Risk and Compliance Committee;
  • Provide reasonable assurance that mechanism and procedures are established, implemented and maintained;
  • Help identify single and aggregated risks (current and latest) that MRoA faces;
  • Establish a forwardlooking assessment of the risk profile and financial position of MRoA;
  • Understand the South African regulator's Solvency Assessment and Management (SAM) capital requirements under the standard formula for Life and Non-Life;
  • Understand how the standard formula and internal capital models operate at MRoA and gets incorporated into the ORSA;
  • Maintain the models used to aggregate results and create the graphs/tables for the ORSA Report, compile and write ORSA report;
  • Ensure that the ORSA Policy is updated annually and that the ORSA Report comply with the policy.

Other topics you will work with:

  • Assess the appropriateness of MRoA's policies and controls in respect of risk management;
  • Review and quality assurance of the Internal Control System;
  • Report riskrelated topics within MRoA to fulfil the disclosure tasks under SAM;
  • Emerging risk management;
  • Business continuity and information security management; and
  • Risk awareness and risk culture campaigns.

Profile:

Minimum Formal Education and Required Work Experience

  • Actuarial qualification (qualified or studying towards qualification);
  • At least 1 year work experience in Enterprise Risk Management or Corporate Actuarial;
  • Report writing and documentation skills;
  • Analyse and interpret capital models;
  • Make decisions;
  • Coordinate the ORSSA Process.
About us

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.

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.

Hybrid #Reinsurancejobs


Closing date
: 23 Febuary
2023-At Munich Re, we embrace, and value, the interaction of diverse backgrounds, experiences, perspectives and thought.

This integration is our foundation. Of our open culture and spirit of partnership. Of how our teams are built and cultivated. Of how we are supported and developed. And at the centre of this interaction is each of us.

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