Principal Actuary in Structured Solutions

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 management, and capital optimization reinsurance strategies tailored for life insurance clients.

Team Dynamics:
The MRoA Structured Solutions Team comprises a diverse group of seasoned professionals with expertise spanning Capital Management, Reinsurance Pricing, Investment Management & Research, Investment Banking, and Actuarial Science. This team is dedicated to crafting, marketing, and executing innovative reinsurance solutions for insurers across the Sub-Saharan region. The selected candidate will assume a senior position within this esteemed team, collaborating closely with the Regional Structured Solutions group, which encompasses the Asian Pacific, Middle Eastern, and African territories.

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

Solution Development & Deal Closure:

• Assess the financial, trading, and regulatory landscape affecting life assurance clients to pinpoint opportunities where structured reinsurance solutions align with their strategic goals.

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

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

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

• Conduct actuarial pricing for large and complex structured reinsurance proposals.

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

• Lead comprehensive project implementations, including negotiating contract terms with a focus on closing profitable deals 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 Growth:

• 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, updating clients on market trends, clarifying transaction details, etc.).

• Develop tailored professional presentations that are solution-oriented to meet client needs and expectations.

Team Development:

• Assist the Head of MRoA Structured Solutions in upholding the highest standards of technical expertise 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 with a strong dedication to delivering quality and timely business outcomes.

Essential 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.

• Excellent interpersonal and communication skills.

• Strong technical actuarial capabilities.

• Proficient presentation and negotiation skills.

• A collaborative team player with a proactive attitude.

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

Benefits:

• Comprehensive Life and Health Benefits.

• Retirement Benefits.

• Flexible working environment.

• Performance Bonus Scheme.

• Employee Assistance Program.

• Wellness Initiatives.

• Opportunities for Global Mobility.

Work Environment:
We foster an environment that encourages innovative thinking. We challenge norms and communicate a shared vision and purpose. We strive for success and view setbacks as learning opportunities.
Our Culture:
We prioritize empathy, knowing when to lead and when to empower others. We are committed to attracting, developing, and mentoring future leaders.
Communication Approach:
We emphasize clear and authentic communication, actively seeking feedback and fostering a culture of learning.
Client-Centric Growth:
Regardless of our roles, we thoughtfully support business initiatives to create value for our clients, embracing digitalization to enhance our solutions.
Team Collaboration:
We are passionate about winning and growing together as a team, inspiring collective performance and creating an inclusive environment that values diverse perspectives and experiences.

About Munich Re:
Established in 1880, Munich Re Group is a leading provider of primary insurance, reinsurance, and insurance-related risk solutions. As pioneers in risk assessment, we drive the digital transformation of the global insurance landscape, expanding our offerings as new risks emerge. From space exploration to cyber threats, and from high-net-worth life coverage to pandemic risks, we manage risk so our clients can focus on their business objectives.

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