Actuary, Reserving

1 week ago

Sydney, New South Wales, Australia Munich Re Full time
Actuary, Reserving

Company
Munich Re

Location
Sydney, Australia


The Non-Life Actuarial Risk Management (NLARM) team monitors experience and produces quarterly reserve estimates for the business and preparing regulatory reports (AVR and FCR) at year end.

We also provide ad-hoc support for the business where actuarial advice is needed and modelling and review support to the broader finance team, including for capital management and reinsurance purchasing.

With the introduction of IFRS17, we are a key part of the team providing and quality assuring the results on a group and local basis.


You will join a close knit supportive team who work together collaboratively and you will report in to the Chief and Appointed Actuary for Non-Life.


Your Role

  • Carry out the reserving, monitoring and associated tasks for the valuation segments assigned to you following Munich Re Group requirements and professional standards
  • Assist the team with the overall reserve review preparation and other analysis including drafting reports and presenting results to stakeholders
  • Support the team in preparing results for retrocession pricing and recovery estimates
  • Support the team in preparing capital modelling results for the ICAAP and for capital management more broadly
  • Maintain your CPD and build your industry knowledge
  • Build strong networks within the nonlife actuarial and underwriting community both locally and within the broader group and the local market
  • Build strong working relationships with international colleagues in the Munich Re Group and support them and the broader group on global projects, system roll outs and reporting on reserves
  • Develop good knowledge of your reserving segments and the models and processes relevant to our work
  • Improve our processes on an ongoing basis to make them more efficient and provide more insights to the company
  • Support the business and broader finance team with analysis, technical review and monitoring of business

Your Profile

  • FIAA Qualified (or equivalent)
  • At least five years post qualification experience
  • Solid experience with reserving ideally including CTP reserving experience and preferably exposure to IFRS1
  • Exposure to broader aspects of actuarial work, including reinsurance/ retrocession modelling and capital modelling
  • Ability to present your findings to senior management
  • Familiarity with various types and classes of insurance and/or reinsurance and accounting practices and with reinsurance arrangement and with reinsurance policy terms and conditions

Our Benefits

  • We have many attractive benefits to offer you, including 16% superannuation
  • Enjoy increased annual leave entitlements
  • Flexible working conditions
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.

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