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 upPreparation, assessment, monitoring and analysis of actuarial reservesUndertake or assist with assurance reviews, report drafting and presentationsReport valuation results and quality assurance for central reserving teamsActuarial Analyses: undertake or support the team in technical analyses in areas such as: Retrocession pricing and recovery estimatesCapital modelling for capital reporting and management more broadlySupport the business and broader finance team with analysis, technical review and monitoring of businessStakeholder Management & Collaboration: building strong networks and relationships with: the Non-Life actuarial, underwriting and claims community both internally and the broader marketinternational colleagues in the Munich Re Group to support them and the broader group on global projects, system roll outs and reporting on reservesContinuous Development/Training: create, develop and maintain: Good knowledge of Munich Re's reserving segments, models, data and processesIndustry knowledge and personal development, including relevant regulatory and professional standards and company policiesUnderstanding of reserving processes with a view to making them more efficient and able to provide greater insights to the companyYour ProfileTertiary degree majoring in actuarial scienceReasonable 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 desirableKnowledge of the Insurance Industry and the Australian Market is ideal1 to 3 yrs work experience in an actuarial insurance team, preferably in a data manipulation or reserving related roleSome experience with reserving and knowledge of accounting practicesAbility to communicate your findings clearly to a range of stakeholders, including colleagues and managementSome understanding of current and market environment and topical issuesThere are many reasons to join Munich Re. Some of our benefits include:16% superannuation contributionsIncreased annual leave entitlementsFlexible, hybrid working conditionsParental leave available from your start dateAnnual company bonus and spot bonus schemesStudy supportAt 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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