Senior Pricing Analyst/Pricing Actuary (Life Insurance)

Munich Reinsurance; Sydney; On-site; AUD 120,000 - 180,000; Full time

Job summary

Munich Reinsurance in Australia seeks a Senior Pricing Analyst/Pricing Actuary to lead pricing initiatives for life reinsurance. You will perform complex actuarial modelling, assess profitability, and support pricing for in-force portfolios as well as new products and treaties.

You will collaborate with internal SMEs and clients, enhance models and processes, and contribute to commercial negotiations, leveraging up to 5 years post-qualification experience in life pricing.

Qualifications

• Up to 5 years post-qualification experience as an Actuary in Life pricing or reserving.
• Knowledge of relevant insurance law in Australia and New Zealand.
• Strong modelling and Excel skills.
• Engaging communicator with stakeholder management skills.

Responsibilities

• Lead projects for technical assessments and commercial outcomes.
• Perform actuarial modelling, analysis and reporting for profitability of in-force portfolios.
• Recommend pricing for existing business and changes to product definitions.
• Price new products and treaties.
• Enhance internal models and processes to improve efficiency.
• Develop client relationships and support MRA’s client strategy.
• Support commercial negotiations with key stakeholders.

Skills

Actuary

Pricing

Modelling

Excel

Communication

Education

FIAA Qualified

Job description

Senior Pricing Analyst/Pricing Actuary (Life Insurance)

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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