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Munich Re is hiring a

Valuation Actuary (12 month contract)

Valuation Actuary (12 month contract)

Company: Munich Re

Location: Sydney, Australia

Munich Re Australia has a 12-month parental leave opportunity for a Valuation Actuary to join the Life Actuarial Risk Management (LARM) team. The CFO is responsible for the integrity of the financial information of the business and the custodian of shareholder value. This includes accounting, financial reporting, Non-life and Life actuarial reporting, expense management, capital management, investment accounting, and tax accounting. The division is a shared service function that services all entities in Australia and New Zealand.

The LARM team delivers reliable information on financial reporting, analysis, risk, capital, and value to stakeholders. In the life insurance reporting system, IFRS17, Solvency, and VNB are considered especially complicated. Reporting to the Manager Group Reporting LARM, you will be part of the team dedicated to investigating these complex calculations.

Your Role:

  • Help review the Terms of Trade (TOT) for valuation purposes, including implementation, testing, change analysis, and communication
  • Review the experience analysis (EA) and valuation results
  • Assess and report on the quality of treaty and policy data being used by the actuarial systems to determine reserves and policy liabilities
  • Apply reserving techniques, including Solvency II and IFRS17
  • Maintain, test, and document reserve models – IBNR methods and determination
  • Deliver high-quality reports and other documentation for internal and external reference (including audit)
  • Contribute to the production of high-quality reports including: Quarterly IBNR report, Quarterly Financial Statement Report, Group Assumption Report, and Economic Valuation Report
  • Support the development and presentation of management information insights from valuation systems
  • Help promote risk management processes within the team
  • Review internal process tools and spreadsheets against agreed standards
  • Support the development, approval, and implementation of valuation dashboards

Your Profile:

  • FIAA or equivalent
  • 5+ years post-qualification experience in a Life (re)insurance pricing or reserving environment
  • Modelling and actuarial valuation system experience (AXIS, SQL, and VBA experience)
  • Experience in life prudential regime in Australia and internationally including IFRS 17 financial reporting, ICAAP / LAGIC, and Solvency II
  • Proficient in producing comprehensive, commercial reports and documentation, including considered opinion and justification of data and content with the ability to present to senior management
  • Experience establishing business relationships to ensure appropriate focus on knowledge sharing, to refine operations and ensure data accuracy

Our Benefits:

  • Flexible, hybrid working conditions
  • $500 health and wellbeing subsidy available
  • Spot bonus scheme

At Munich Re, we embrace and value the interaction of diverse backgrounds, experiences, perspectives, and thought. This interaction is the foundation of our open culture and spirit of partnership, how our teams are built and cultivated, how we are supported and developed. At the center of this interaction is each individual.

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