Career Level 4
We are looking for a Pricing Specialist to join the Group Business team within the Life Business Unit, reporting to the Head of Group Business. The team is responsible for writing profitable group reinsurance business across South Africa and Sub-Saharan Africa, including mortality, disability and critical illness benefits.
Your Role:
- Lead and/or participate in the various projects undertaken by the Group Business team including but not limited to tenders, specific client projects, basis updates, industry studies and experience analyses
- Provide ongoing development and maintenance support for the group life quotations tools, including basis updates
- Review complex employee benefit, credit life and funeral quotes for all Sub Saharan African countries and provide recommendations while balancing risk management and commercial value
- Ensure Munich Re’s actuarial and risk management standards are met in the pricing activities carried out and liaising with the regional pricing team
- Manage group profitability monitoring in collaboration with the various stakeholders, including engaging with Financial Management and Reporting team to ensure that this is reflected appropriately and is monitored
- Review and implement changes to improve process efficiency through the use of technology
- Build technical profile in the industry (e.g. delivery of technical content at seminars and conferences, and engagement with external stakeholders) as well as building technical capability within the team to support employees in developing subject matter expertise
- Coordinate with client managers, underwriting, claims and operations to deliver product propositions
- Support the business in providing high-quality actuarial consulting services to clients in the area of pricing, product development, research and risk management and accompany client managers as functional expert
Your profile:
- Qualified or nearly qualified actuary with significant relevant experience in Life insurance or reinsurance business with expertise in group risk
- Pricing experience with sound technical understanding of Life products including mortality and morbidity rate setting
- Excellent skills in actuarial/statistical programming languages such as: VBA and Excel; BI tools (e.g. Power BI); R/Python or any relevant software programme
- Strong verbal communication, presentation and negotiation skills
We see DEI as a business imperative, helping us to attract, grow and inspire a diverse, inclusive, and equitable workforce that better enable us to serve our customers, investors, and communities. Globally, we strive to build balanced teams across all aspects of difference. As part of our commitment to opportunity, growth and diversity, preference may be given to candidates in line with our Employment Equity Plan. If you are interested in the role and believe you could contribute, we encourage you to apply even if your experience doesn't perfectly match every qualification.