Senior Financially Motivated Resinsurance Actuary
10 hours ago
**Senior Financially Motivated Resinsurance Actuary**:Career Level 4
**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.
Your job
Develop, market, implement and monitor the financial performance of Financially Motivated Reinsurance (Fin Mo Re) solutions for Munich Re of Africa (MRoA) - Life’s clients ensuring that that new business and financial profitability targets are met. The role includes:
- Research and understand the capital management and profitability stresses of MRoA’s Life clients
- Identify and design financially motivated reinsurance solutions for such clients with support from management
- Market appropriate Fin Mo Re solutions to MRoA’s Life clients
- Implement the Fin Mo Re solutions ensuring that risk, profitability and credit measures of the Munich Re Group are satisfied
- Ensure that the data requirements and technical input needed to price Fin Mo Re transactions are in place
- Draft internal risk assessment, credit analysis and Fin Mo Re transaction reports
- Develop financial models to assess the profitability of Fin Mo Re transactions and analyse the risk and variability of profitability of the transaction to the relevant factors impacting profitability
- Implement regular profit measurement calculations to manage the profitability of Fin Re transactions
- Maintaining the highest standard of technical competence & ensuring group guidelines are followed
- Supporting overall Life Business strategy & risk management function
**Profile**:
- 10+ years experience in either Life / Reinsurance / Corporate Actuarial insurance or reinsurance business or Actuarial Consulting
- Sound technical understanding of life insurance dynamics - products, regulatory factors, market environment
- Strong analytical skills, statistical skills and attention to detail
- Ability to multi-task wide range of deliverables
- Good verbal, communication, presentation and negotiation skills
- Excellent skills in actuarial modelling packages/VBA/Excel
- Able to work under pressure
Skills required
- Strong numerical and analytical skills
- Strong problem solving and analytical skills
- Excellent communication skills
- Ability to communicate effectively in a technical and non-technical manner and at all levels
- Attention to detail
- VBA programming experience
About us
Find out Who we are, What we do, Our Strategy and How we can Support & Reward you
Our business model is based on the combination of primary insurance and reinsurance under one roof. We take on risks worldwide of every type and complexity, and our experience, financial strength, efficiency and first-class service make us the first choice for all matters relating to risk. Our client relationships are built on trust and cooperation. If you would be interested in helping shape the future as part of one of our teams, we look forward to hearing from you.
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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