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Munich Re is a global reinsurance company based in Germany. Established in 1880, it is one of the world's largest reinsurers. Munich Re provides risk transfer and risk management solutions to insurance companies and clients worldwide. With a strong focus on technical expertise and innovation, it plays a vital role in supporting the insurance industry and managing complex risks.

Munich Re

Senior Actuary: Structured Solutions PortfolioCompany: Munich ReLocation: Johannesburg, South AfricaCareer Level: 4We are looking for a Senior Actuary in our top performing Life Structured Solutions Team to manage the high growth, multi-billion rand structured solutions portfolio. You will report directly to the Head of Structured Solutions Munich Reinsurance Africa Branch (MRAB) and closely collaborate with the Regional Structured Solutions Team covering the Asian Pacific, Middle Eastern and African regions. This role does not include any direct reports.Your Role:<ul><li>Manage the financial performance of MRAB’s Structured Solutions reinsurance treaties.</li><li>Identify and implement improvements to the financial and risk management processes monitoring the in-force reinsurance portfolio, ensuring the infrastructures meet our evolving business needs.</li><li>Perform experience and other investigations on the portfolio and make sound risk and profitability management recommendations.</li><li>Coordinate with valuation teams, accounting teams, Regional Structured Solutions team and central units to fulfill the ongoing monitoring and reporting requirements.</li><li>Support the quarterly and annual Solvency II, IFRS and local statutory reporting (if applicable) of LH2 financial reinsurance transactions.</li><li>Provide up-to-date insights on the regulatory, market and economic factors that affect the performance of MRAB’s Structured Solutions portfolio.</li><li>Ensure compliance with the relevant regulatory requirements of the portfolio and the Munich Re Group standards.</li><li>Train and develop MRAB Structured Solutions team in the fields of risk and profitability management.</li><li>Senior contributor to the development and implementation of MRAB Structured Solutions strategy goals.</li></ul>Your Profile:<ul><li>Actuarial Qualification: Fellowship of a recognised Actuarial Society.</li><li>Minimum of 10 years’ experience in life insurance, reinsurance, actuarial consulting, corporate actuarial, financial reporting or life insurance auditing. Experience in insurance capital management or investment market analysis will be beneficial.</li><li>Technically strong in accounting, financial reporting and actuarial concepts.</li><li>Sound understanding of Life & Health insurance and reinsurance markets in South Africa and other Sub-Saharan African markets.</li><li>Detailed knowledge in insurance and financial services regulatory requirements and insurance accounting standards.</li></ul>Our Benefits:<ul><li>Life and Health Benefits</li><li>Retirement Benefits</li><li>Hybrid working environment</li><li>Bonus Scheme</li><li>Employee Assistance Program</li></ul>At Munich Re, we embrace and value the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation of our open culture and spirit of partnership. It shapes how our teams are built and cultivated and how we are supported and developed. And at the center of this interaction is each of us.

Terms of Trade Actuarial AnalystCompany: Munich ReLocation: Johannesburg, South AfricaCareer Level: 3We are looking for an Actuarial Analyst for our Terms of Trade Team reporting to the Head of Experience Analysis and Terms of Trade in the Life Department.Are you a nearly qualified or fully qualified Actuary who enjoys being part of a team of highly skilled and motivated colleagues? Are you able to relate well to people from different backgrounds and cultures? Do you enjoy working with large data sets to derive assumptions? If you answered yes to the above then this might be the opportunity for you.Your Role:<ul><li>Update and maintain all Terms of Trade for MRoA</li><li>Maintain the highest standard of technical competence & ensuring global and local guidelines are followed</li><li>Work with the regional office to determine Terms of Trade</li><li>Support overall Life Business strategy & risk management</li><li>Communicate with retail and group pricing teams as well as the valuations team on assumption setting</li><li>Partner with business to provide valuable insight to influence strategy and long term decision making</li></ul>Your Profile:<ul><li>TASSA/equivalent actuarial qualification or nearly qualified Actuary</li><li>2+ years’ experience deriving assumptions and/or doing experience studies</li><li>Work with complex data and work in a team environment</li><li>Experience with the South African life insurance products and market dynamics</li><li>Numerical, statistical and analytical skills</li><li>Excellent programming skills in actuarial/statistical programming languages</li><li>VBA/Excel</li><li>SQL Server</li><li>R/Python or any relevant software programme</li></ul>Our Benefits:<ul><li>Life and Health Benefits</li><li>Retirement Benefits</li><li>Hybrid working environment</li><li>Bonus Scheme</li><li>Employee Assistance Program</li><li>Global Mobility</li></ul>At Munich Re, we embrace and value the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation of our open culture and spirit of partnership. It shapes how our teams are built and cultivated and how we are supported and developed. And at the center of this interaction is each of us.

Life Actuarial Pricing AnalystCareer Level: 3Company: Munich ReLocation: Johannesburg, South AfricaWe are looking for an Actuarial Analyst for our Technical Pricing Team which falls under the Life Retail Product and Pricing department. The Life Retail Product and Pricing department ensures profitable reassurance business across South Africa and Sub Saharan Africa. This adds to the value of new business and embedded value by pricing appropriately, monitoring experience and managing new product innovations.Established in 1968, Munich Reinsurance Company of Africa serves life and non-life reinsurance clients across the Sub-Saharan Africa from our hub in Johannesburg. Together with our colleagues globally, we influence, collaborate and can be relied on to tackle the world’s most pressing challenges.Your Role:<ul><li>Perform experience reviews and pricing for all regions</li><li>Price new business, new initiatives and product development</li><li>Ensure that Munich Re’s actuarial and risk management standards are met</li><li>Lead/participate in various projects undertaken by the life team such as tenders, specific client projects and experience analyses</li><li>Coordinate and collaborate with client managers, underwriting, claims, valuations and operations to deliver product propositions</li><li>Support the client management strategy e.g. perform research for and accompany client managers as the pricing expert</li><li>Support Head of the Retail Pricing team and the Head of the Retail team in providing high quality actuarial consulting service to clients in the area of pricing, product development and risk management</li><li>Ensure optimal process efficiency</li></ul>Your profile:<ul><li>4+ years relevant experience in Life reinsurance or insurance business</li><li>Newly or nearly qualified actuary</li><li>Pricing experience with sound technical understanding of Life products including mortality and morbidity rate setting and experience</li><li>Good experience with actuarial modelling packages, Excel, VBA, SQL, Power BI</li><li>Good verbal, communication, presentation and negotiation skills</li></ul>At Munich Re, we embrace and value the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation of our open culture and spirit of partnership. It shapes how our teams are built and cultivated and how we are supported and developed. And at the center of this interaction is each of us.

Senior Structured Solutions ActuaryCompany: Munich ReLocation: Johannesburg, South AfricaYour Business Unit:The MRoA Structured Solutions business unit is the leading player in the Sub-Saharan region that develops tailored cash financing, profitability management, and capital optimization reinsurance solutions for its life assurance clients.Your Team:The MRoA Structured Solutions Team is an experienced and highly qualified team of professionals with multiple skills (Capital Management, Reinsurance Pricing, Investment Management & Research, Investment Banking, Actuarial) that designs, markets, and implements innovative reinsurance solutions to insurers in the Sub-Saharan region. The candidate will join this top-rated and highly skilled team in a senior role. The role will also collaborate closely with the Regional Structured Solutions team covering the Asian Pacific, Middle Eastern, and African regions.Your job:Are you passionate about developing innovative solutions that increase financial growth for our clients? As the Senior Actuary for MRoA – Structured Solutions, you will play a pivotal role in helping our clients achieve their business goals. Reporting to the Head of MRoA Structured Solutions, you will have the following key accountabilities:Solution Development & Drive to Close Deals<ul><li>Analyze the financial, trading, and regulatory environment in which the life assurance clients operate to identify areas where structured reinsurance solutions support the client's strategic objectives.</li><li>Develop innovative financial solutions that are compliant with regulatory requirements and Munich Re’s risk appetite to help clients achieve their business plans.</li><li>Provide insights that enhance the MRoA Structured Solutions team & Regional Structured Solutions teams’ understanding of the Sub-Saharan region markets, identify potential business opportunities considering regulatory/accounting trends.</li><li>Partner and coordinate with the Regional Structured Solutions team to design and develop the best solutions for clients.</li><li>Perform actuarial pricing of large/complex structured reinsurance quotes.</li><li>Review actuarial pricing carried out by team members while balancing commercial and customer value.</li><li>Lead the end-to-end project implementation, including negotiating contract terms (including but not limited to pricing) with best efforts to close profitable deals within defined deadlines.</li><li>Assume a leading role in the technical due diligence and actuarial technical matters to ensure Munich Re Group’s standards are met in all pricing activities carried out by the MRoA Structured Solutions team.</li></ul>Client Management & Business Development<ul><li>Actively drive acquisition of new business from new and existing clients.</li><li>Be the first point of contact for clients by building sound relationships supporting ongoing client management (e.g. coordinate accounts, updating clients on market development, clarification with clients on various aspects of a transaction etc.).</li><li>Prepare professional presentations that are customized to be solution-oriented to the needs and requirements of clients.</li></ul>Contribute to Team Growth<ul><li>Support Head MRoA Structured Solutions to drive the highest standard of technical competences in MRoA Structured Solutions team & ensure Munich Re Group’s guidelines are followed.</li><li>Drive process improvements and offer training support to improve MRoA Structured Solutions team’s expertise.</li><li>Monitor the financial performance of MRoA Structured Solution’s reinsurance treaties.</li><li>Participate in ad-hoc projects based on business priorities.</li></ul>Your profile:We are looking for a high caliber, results-driven, and independent professional with a strong commitment to quality and timely delivery of business results.Minimum Qualifications:<ul><li>Actuarial qualification: Fellowship of a recognized Actuarial Society.</li></ul>Minimum Experience:<ul><li>10+ years of experience in an insurance, reinsurance, actuarial consulting, or corporate actuarial role. Experience in capital management or investment market analysis will be beneficial.</li><li>Strong familiarity with accounting, finance, and actuarial concepts.</li></ul>Job-Specific Knowledge & Skills:<ul><li>Sound understanding of life and health insurance and reinsurance in South Africa and other Sub-Saharan markets.</li><li>Strong knowledge in insurance and financial regulatory requirements and accounting standards.</li><li>Experience in client management and business development.</li><li>Distinct problem-solving skills, creativity, critical thinking, and focus on achieving business results.</li><li>Excellent interpersonal and communication skills.</li><li>Excellent technical actuarial skills.</li><li>Strong presentation and negotiation skills.</li><li>A team player with a “can-do” attitude.</li><li>Good command of actuarial modeling packages and MS Office suite (PowerPoint, Excel, Word).</li></ul>Our Benefits:<ul><li>Life and Health Benefits.</li><li>Retirement Benefits.</li><li>Hybrid working environment.</li><li>Bonus Scheme.</li><li>Employee Assistance Program.</li><li>Wellness Programs.</li><li>Global Mobility.</li></ul>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.You will grow with your clients:Whatever our role, we support business, in a thoughtful way, to create value for our clients. We embrace new ways of working applying digitalization to provide solutions.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.About Munich Re:Founded in 1880, Munich Re Group is one of the world's leading providers of primary insurance, reinsurance, and insurance-related risk solutions. 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 a 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 center of this interaction is each of us.

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