The Non-Life Actuarial Risk Management (NLARM) team is responsible for monitoring experience, producing quarterly reserve estimates for the business, and preparing regulatory reports (Valuation and Financial Condition).Where needed, we provide actuarial advice to the business as well as modelling and review support to the broader finance team, including for capital management and reinsurance purchasing.We also play a key role in providing quality assurance of the results at a Group and local level. We are a close-knit supportive team who work together collaboratively.Your role will report to the Appointed Actuary.Your RoleActuarial Reserve Reviews: undertake tasks associated with assessing or supporting the assessment of Munich Re's provisions, including:Data extraction, reconciliation, processing, and valuation model set up.Preparation, assessment, monitoring, and analysis of actuarial reserves.Undertake or assist with assurance reviews, report drafting, and presentations.Report valuation results and quality assurance for central reserving teams.Actuarial Analyses: undertake or support the team in technical analyses in areas such as:Retrocession pricing and recovery estimates.Capital modelling for capital reporting and management more broadly.Support the business and broader finance team with analysis, technical review, and monitoring of business.Stakeholder Management & Collaboration: building strong networks and relationships with:the Non-Life actuarial, underwriting, and claims community both internally and the broader market.international colleagues in the Munich Re Group to support them and the broader group on global projects, system rollouts, and reporting on reserves.Continuous Development / Training: create, develop, and maintain:Good knowledge of Munich Re's reserving segments, models, data, and processes.Industry knowledge and personal development, including relevant regulatory and professional standards and company policies.Understanding of reserving processes with a view to making them more efficient and able to provide greater insights to the company.Your ProfileTertiary degree majoring in actuarial science.Reasonable progress towards qualification as a Fellow of the Institute of Actuaries of Australia (or equivalent, including a DAV qualification or part qualification).Excellent knowledge of MS Office, Power BI, and programming desirable.Knowledge of the Insurance Industry and the Australian Market is ideal.1 to 3 years work experience in an actuarial insurance team, preferably in a data manipulation or reserving related role.Some experience with reserving and knowledge of accounting practices.Ability to communicate your findings clearly to a range of stakeholders, including colleagues and management.Some understanding of current and market environment and topical issues.There are many reasons to join Munich Re. Some of our benefits include:16% superannuation contributions.Increased annual leave entitlements.Flexible, hybrid working conditions.Parental leave available from your start date.Annual company bonus and spot bonus schemes.Study support.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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