Valuation Actuary

2 weeks ago

Sydney, New South Wales, Australia eFinancialCareers Ltd. Full time

Valuation Actuary (12 month contract)Company: Munich Re
Location: Sydney, Australia

Munich Re Australia has a fantastic opportunity for a Valuation Actuary to join the Life Actuarial Risk Management (LARM) team on a 12-month parental leave cover.

The Chief Financial Officer (CFO) plays a crucial role in maintaining the financial integrity of the business and safeguarding shareholder value. This encompasses various responsibilities such as accounting, comprehensive financial reporting, actuarial reporting for both Non-life and Life sectors, expense management, capital management, investment accounting, and tax accounting. The division operates as a shared service function, catering to all entities in Australia and New Zealand.

The LARM team is committed to providing accurate information on financial reporting, analysis, risk assessment, capital, and overall value to stakeholders. Particularly, dealing with intricate calculations in the realm of life insurance reporting systems like IFRS17, Solvency, and VNB. As part of the team reporting to the Manager Group Reporting LARM, you will play a key role in exploring these complex computations.

Your Role

  • Assist in reviewing the Terms of Trade (TOT) for valuation purposes, including implementation, testing, and communication of changes
  • Examine the experience analysis (EA) and valuation outcomes
  • Evaluate and report on the accuracy of treaty and policy data utilized by actuarial systems for reserves and policy liabilities determination
  • Apply different reserving techniques like Solvency II and IFRS17
  • Manage, test, and document reserve models encompassing IBNR methods and determinations
  • Produce high-quality reports and other documents for internal and external references, including audits
  • Contribute to the creation of quality reports such as Quarterly IBNR report, Quarterly Financial Statement Report, Group Assumption Report, and Economic Valuation Report
  • Assist in developing and presenting insights from valuation systems for management information
  • Support the team in promoting risk management processes
  • Review internal process tools and spreadsheets adhering to agreed standards
  • Support in the development, endorsement, and execution of valuation dashboards

Your Profile

  • Fellowship of the Institute of Actuaries of Australia (FIAA) or equivalent
  • Over 5 years of post-qualification experience in a Life (re)insurance pricing or reserving environment
  • Proficient in modelling and actuarial valuation systems such as AXIS, SQL, and VBA
  • Experience in life prudential regimes both in Australia and internationally covering IFRS 17 financial reporting, ICAAP / LAGIC, and Solvency II
  • Skilled in producing comprehensive commercial reports with the ability to present to senior management and ensure data accuracy
  • Experience in establishing business relationships to facilitate knowledge sharing and refine operations for data accuracy

Our Benefits

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

At Munich Re, we value diversity of backgrounds, experiences, perspectives, and thoughts. This diversity is at the core of our open culture, fostering teamwork, support, and development. Join us to Boost Your Career and explore numerous job opportunities on eFinancialCareers without the need for urgency.

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