Valuation Actuary

Munich Re is one of the top providers of reinsurance, primary insurance, and insurance-related risk solutions in the world.  A unique position exists to be a part of that global success story.

This is an exciting, challenging opportunity to join LH2 Financial Reporting Team as Valuation Actuary. This team oversees valuation, reserving and financial reporting for Life and Health business of Munich Re entities in Asia markets (i.e., Southeast Asia, Malaysia Retakaful, Korea, Japan and MENA) and is embedded in the global Central Life Reserving team, which is covering all relevant global and local valuation bases including Solvency II, IFRS 17 and HGB.

• You will lead the supporting activities for Solvency II, IFRS 17, Local Statutory and HGB reporting for Asia entities
• Responsible for mentoring and leading junior members
• Perform regular experience monitoring, treaty performance analysis and assumption review
• Maintain the valuation data, and ensure models and processes are up-to-date and with appropriate documentation
• Close coordination with the heads of business units and finance departments to ensure treaties are accurately set up, valued and reported
• Deliver high-quality information to management and relevant departments for their business decision-making
• Provide support for business development activities
• Maintain knowledge of current actuarial developments for multiple valuation bases (i.e., IFRS17) and developments in the (re)insurance industry across several markets
• Close collaboration with the regional valuation team based in Singapore
• You will have responsibility to lead ad-hoc projects or training

• Degree in Actuarial Science, Mathematics or Statistics
• Qualified actuary of a recognised actuarial body (FSA, FIA, FIAI, FIAA or equivalent)
• 5+ years actuarial experience within the valuation function of life (re)insurance
• Profound understanding of economic valuations (i.e., Solvency II or IFRS17)
• Strong analytical, problem solving and research skills
• Excellent verbal and written communication skills
• Personality traits: responsible, proactive, adaptive, meticulous, team player but with the ability to work independently
• Proficiency in excel (can perform complex functions), VBA and database management systems
• Working knowledge of traditional life, health and financial reinsurance business is an advantage
• Knowledge of other local specific reporting basis (i.e., Korea GAAP, Japan GAAP) is an advantage
• Knowledge of Retakaful business is an advantage

About Munich Re

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 interaction 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.