Cape Town

Johannesburg

Graduate

Qualified

Senior Actuary

Life

Investments

Health

Pensions

Property & Casualty

Reporting

Reinsurance

Risk

Python

Coding

Valuation

Consulting

Excel

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.

Description of the role and purpose of the job:Seeking a dynamic individual with highly quantitative skills within the actuarial team, advanced academics, and strong communication skills to manage engagements and take responsibility for deliverables.Key responsibilities:<ul><li>Overseeing the development and validation of actuarial models for provisioning and regulatory capital calculation purposes.</li><li>Managing client engagements or components of large scale engagements, as well as individually contributing quality work on the engagement.</li><li>Providing technical knowledge, direction, and training to people, coordinating engagement management, and effectively utilizing resources as appropriate.</li><li>Managing engagements to consistently achieve specific revenue and profit objectives and deliver quality outcomes while meeting agreed deadlines.</li><li>Day-to-day management of the team on engagements, including coaching and providing constructive feedback.</li><li>Increasing focus on business development, building on networks across the practice and people development activities, to manage and develop external client relationships.</li><li>Taking responsibility for the seamless delivery of internal projects/services, managing others, and influencing key stakeholders.</li></ul>Skills and attributes required for the role:<ul><li>An undergraduate qualification in a quantitative discipline such as Mathematics, Statistics, Actuarial or similar.</li><li>Qualified Actuary.</li><li>Relevant experience within an insurer or consultancy business is desirable with at least 8 or more years of experience.</li><li>Coding skills (e.g. SAS, Python, R, etc.) would be an advantage.</li><li>Experience in leading projects is desired.</li><li>Experience in current hot actuarial topics such as IFRS 17, ESG, big data, and wider advisory engagements is desirable.</li><li>Other competencies that would be desired:</li><ul><li>Critical Analytical Thinking</li><li>Business Acumen</li><li>Strong Communication Skills with the ability to articulate quantitative concepts to both technical and non-technical individuals</li><li>Must be resilient</li><li>Must be a team player</li><li>Ability to cope with and work under pressure</li></ul></ul>Minimum requirements to apply for the role:<ul><li>An undergraduate qualification in a quantitative discipline such as Mathematics, Statistics, Actuarial or similar.</li><li>Relevant experience within an insurer or consultancy business is desirable with at least 8 or more years of experience.</li><li>Qualified Actuary.</li></ul>

Designation: Actuarial AnalystLocation: Cape Town or Johannesburg, South AfricaWe are looking for diverse, bright-minded individuals who are interested in pursuing a career in the actuarial consulting industry to join our dynamic team in South Africa. This is an ideal opportunity to work and collaborate with our team of experts from across the world in a fast-paced, challenging and rewarding environment.Desired experience and professional qualifications:<ul><li>0-1 year of professional experience</li><li>Bachelors or Masters in a relevant field (Actuarial Science, Mathematics, Statistics, Economics, etc.)</li><li>Pursuing actuarial examinations from a recognized professional body/institute</li><li>Additional consideration will be given to individuals from a previously disadvantaged background.</li></ul>Desired competencies:<ul><li>Thorough understanding of actuarial subjects studied thus far</li><li>Keenness to learn and ask questions</li><li>Analytical and communication skills</li><li>Driven and self-motivated</li><li>Basic knowledge of MS Excel or VBA programming</li></ul>About Milliman:Milliman is one of the world’s largest independent professional services firms. Founded in 1947, the firm provides consulting services to clients in four practice areas: healthcare, life insurance and financial services, employee benefits and pensions, and property and casualty insurance. Today, Milliman has more than 4,600 employees, more than $1.38 billion in annual revenue in 2021, and more than 60 offices worldwide.About Milliman South Africa:Our offices in Johannesburg and Cape Town provide coverage across sub-Saharan Africa, focusing on life, non-life and microinsurance. We combine the expertise of our local offices with that of our colleagues across the world to provide global consulting solutions to our clients. Our service offerings include risk and capital management, financial reporting, product development and new market entry.

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