Senior Actuarial Consultant

1 month ago

Johannesburg, Gauteng, South Africa Munich Re Full time

Career Level: Level 4

Business Unit Overview:
The MRoA Structured Solutions division stands as a premier entity in the Sub-Saharan market, specializing in customized cash financing, profitability enhancement, and capital optimization reinsurance strategies tailored for life insurance clients.

Team Dynamics:
The MRoA Structured Solutions Team comprises a diverse group of seasoned professionals, each bringing unique expertise in areas such as Capital Management, Reinsurance Pricing, Investment Management & Research, Investment Banking, and Actuarial Science. This team is dedicated to crafting, marketing, and executing cutting-edge reinsurance solutions for insurers across the Sub-Saharan region. The selected candidate will join this esteemed team in a senior capacity, collaborating closely with the Regional Structured Solutions team that spans the Asia-Pacific, Middle East, and African regions.

Key Responsibilities:
Are you driven by the challenge of creating innovative solutions that foster financial growth for our clients? As the Senior Actuary for MRoA – Structured Solutions, you will be instrumental in guiding our clients towards their business objectives. Reporting directly to the Head of MRoA Structured Solutions, your primary responsibilities will include:

Solution Development & Deal Closure:

• Evaluate the financial, trading, and regulatory landscapes impacting life assurance clients to pinpoint opportunities where structured reinsurance solutions align with their strategic goals.

• Innovate compliant financial solutions that adhere to regulatory standards and Munich Re's risk framework, facilitating clients in realizing their business ambitions.

• Provide valuable insights that enhance the understanding of Sub-Saharan market dynamics for both the MRoA Structured Solutions team and the Regional Structured Solutions teams, identifying potential business prospects in light of regulatory and accounting trends.

• Collaborate with the Regional Structured Solutions team to devise and implement optimal solutions for clients.

• Conduct actuarial pricing for complex structured reinsurance proposals.

• Oversee actuarial pricing conducted by team members, ensuring a balance between commercial viability and customer value.

• Lead comprehensive project implementation, including negotiating contract terms (such as pricing) with a focus on closing profitable agreements within established timelines.

• Take a leading role in technical due diligence and actuarial matters to ensure compliance with Munich Re Group's standards in all pricing activities executed by the MRoA Structured Solutions team.

Client Engagement & Business Development:

• Proactively pursue new business opportunities from both existing and prospective clients.

• Serve as the primary contact for clients, fostering strong relationships to support ongoing client management (e.g., coordinating accounts, providing market updates, clarifying transaction details, etc.).

• Develop tailored professional presentations that address the specific needs and requirements of clients.

Team Development:

• Assist the Head of MRoA Structured Solutions in promoting the highest standards of technical proficiency within the MRoA Structured Solutions team, ensuring adherence to Munich Re Group's guidelines.

• Drive process enhancements and provide training support to elevate the expertise of the MRoA Structured Solutions team.

• Monitor the financial performance of MRoA Structured Solutions' reinsurance agreements.

• Engage in ad-hoc projects aligned with business priorities.

Candidate Profile:
We seek a high-caliber, results-oriented, and self-sufficient professional who is dedicated to delivering quality and timely business outcomes.

Required Qualifications:


• Actuarial qualification: Fellowship from a recognized Actuarial Society.

Required Experience:

• Over 10 years of experience in insurance, reinsurance, actuarial consulting, or corporate actuarial roles. Experience in capital management or investment market analysis is advantageous.

• Strong understanding of accounting, finance, and actuarial principles.

Job-Specific Knowledge & Skills:

• Comprehensive knowledge of life and health insurance and reinsurance within South Africa and other Sub-Saharan markets.

• In-depth understanding of insurance and financial regulatory requirements and accounting standards.

• Proven experience in client management and business development.

• Exceptional problem-solving abilities, creativity, critical thinking, and a focus on achieving business results.

• Outstanding interpersonal and communication skills.

• Strong technical actuarial capabilities.

• Excellent presentation and negotiation skills.

• A collaborative team player with a proactive attitude.

• Proficient in actuarial modeling software and MS Office applications (PowerPoint, Excel, Word).

Benefits:

• Comprehensive Life and Health Benefits.

• Retirement Benefits.

• Flexible working arrangements.

• Performance-based Bonus Scheme.

• Employee Assistance Program.

• Wellness Initiatives.

• Opportunities for Global Mobility.

Work Environment:
At Munich Re, we foster an environment that encourages ambitious thinking. We challenge norms and promote a compelling shared vision. We pave the way for success and view setbacks as opportunities for learning.
Our Commitment:
We are empathetic leaders who recognize when to guide and when to empower others. We attract, nurture, and mentor future leaders.
Communication Philosophy:
We prioritize clear and authentic communication, welcoming feedback and fostering a culture of learning.
Client-Centric Approach:
Regardless of our roles, we support businesses thoughtfully to create value for our clients, embracing innovative working methods and digital solutions.
Team Spirit:
We are passionate about collective success and inspire each other to achieve outstanding performance. We cultivate an inclusive environment that values diverse perspectives, experiences, and backgrounds.

#LI-Hybrid #Reinsurancejobs

This position is permanent and offers flexibility in work location. Please submit your application through our careers page.

About Munich Re:
Established in 1880, Munich Re Group is among the world's foremost providers of primary insurance, reinsurance, and risk solutions. As innovators in risk assessment, we drive the digital transformation of the global insurance landscape, expanding our offerings as new risks emerge. From space missions to cyber threats, and from high-net-worth life coverage to pandemic responses, we manage risk so our clients can focus on their business objectives.

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