Senior Actuarial Analyst

3 weeks ago

Johannesburg, South Africa Munich Re Full time

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 & dar**e: 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.

LI-Hybrid

This is a permanent position and is based in Johannesburg, South Africa.
The closing date for this opening is 08 March 2024.

**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.

Disclaimer:

- At Munich Re, we embrace, and value, the interaction of diverse backgrounds, experience, perspectives and thought. This interaction is the foundation of our open culture, spirit of partnership, of how our teams are built and cultivated, and of how we are supported and developed. And at the centre of this interaction is each of us.

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