Senior Pricing Analyst/Pricing Actuary (Life Insurance)

Munich Re; Sydney; On-site; AUD 100,000 - 180,000; Full time

Job summary

Munich Re Life team in Australia and New Zealand leads pricing, underwriting and reserving initiatives for life reinsurance. The role focuses on cross-functional project leadership, profitability analysis, pricing of existing and new products, and model enhancement to boost efficiency and client outcomes.

Ideally you have FIAA qualification or progress toward it, up to 5 years post-qualification experience, and strong Excel capabilities to support client engagements and commercial negotiations.

Qualifications

• Up to 5 years post-qualification experience as an actuary in life (re)insurance pricing or reserving.
• Knowledge of insurance law in Australia and New Zealand.
• Strong knowledge of individual or group risk products for AU/NZ markets.
• Strong modelling and Excel skills.
• Engaging communicator with team and stakeholder collaboration.

Responsibilities

• Leading projects to drive technical assessments and commercial outcomes in a cross functional environment.
• Performing actuarial modelling, analysis and reporting for profitability, pricing, and client requests.
• Enhancing internal models and processes to improve efficiency.
• Working with internal SMEs and clients to agree changes to Treaty documentation.
• Developing client relationships and supporting MRA’s client strategy.
• Supporting commercial negotiations with key internal and external stakeholders.

Skills

Actuarial modelling

Pricing

Reserving

Excel skills

Communication

Problem solving

Interpersonal

Insurance law knowledge

Client relationships

FIAA Qualified

Education

FIAA Qualified or near completion

Tools

Excel

Job description

The Life team provides reinsurance services for the life industry in Australia and New Zealand.

The Life team operates in Retail, Group and Direct markets.

We have expertise in many areas, such as product, pricing, claims management underwriting.

The Commercial team oversees MRA’s client relationships, with a focus on Retail and Direct insurance. The team provides advice into all aspects of pricing, product design, claims, underwriting. The team also brings Munich Re’s global insights and capabilities to the Australian and New Zealand market.

Your Role

• Leading projects to drive technical assessments and commercial outcomes in a cross functional environment
• Performing actuarial modelling, analysis and reporting in support of:
  • Profitability analyses on in force portfolios
  • Recommendation on pricing of existing business
  • Client requests for changes to existing business (including updated product definitions, changes to underwriting processes, etc.)
  • Pricing of new products and treaties
• Enhancing internal models and processes to improve efficiency
• Working with internal SMEs and clients to agree changes to Treaty documentation
• Develop and build client relationships and support MRA’s client strategy
• Support the effective management of commercial negotiations including engagement with key internal and external stakeholders

Your Profile

• Up to 5 years post-qualification experience as an Actuary, in a Life (re)insurance pricing or reserving environment
• Knowledge of relevant insurance law in Australia and New Zealand
• Strong knowledge of individual and/or group risk products – product features, benefits, pricing, reserving, for the Australian and NZ markets
• Strong modelling and Excel skills
• Engaging - Effectively communicate, share knowledge and support initiatives and projects
• Problem solving – ability to proactively consider, research and recommend pragmatic solutions to tasks and problems
• Interpersonal – ability to build and maintain effective professional relationships with all stakeholders based on trust and a constructive and collaborative approach
• FIAA Qualified, or well-progressed towards qualification.

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