Position Title: Actuarial Consultant, Pricing
Division: Life & Health
Munich Re Korea Branch, part of Munich Re the world’s largest reinsurer, is looking for a motivated, enthusiastic professional who is interested in Pricing Actuary under Life & Health business unit. The actuary is responsible for pricing quotes as well as providing a range of actuarial services to the clients including data analysis. There will be frequent and close interactions with various teams in Life and Health business unit as well as the regional pricing team in Singapore within Asia Pacific region.
Position reports to: Head of Actuarial Services
Your Job:
• Identifying risks of pricing quotes, modelling to test the profitability of quotes, supporting the region pricing team’s review and propose reinsurance terms with competitive edge
• Providing technical support for clients and a proactive and goal-oriented collaboration with the Client Management team supporting their efforts in acquiring profitable new business
• Collaborate with Product Development team by providing opinion from pricing perspective
• Carrying out derivation and updating pricing bases (if possible, on the basis of biometric studies)
• Analysing claims and lapse experience
• Monitoring business results of each portfolio
• Advising on possible options for the optimal reinsurance solution for Munich Re and the client
• Ensuring compliance with applicable guidelines, risk appetite and mandates
• Supporting product developments
• Executing data analytics projects if needed
• Assisting the monitoring, accounting, valuation and forecasting of the new and existing business
• Analysing current developments in insurance markets and their implications for Munich Re and our clients
• Executing risk management processes
Your Profile:
• Min. 5 years of working experience in the actuarial department at direct life insurance companies or related institution (essential)
• Associate or Fellow of a recognized actuarial body (FIAK, ASA, FSA etc.) or progressing toward the actuarial qualification (essential)
• Fluent spoken and written in English and Korean (essential)
• Experience in pricing/modelling/valuation would be an advantage
• Advanced MS Office skills - Excel, Word, PowerPoint, Access
• Strong knowledge in local insurance market and product lines
• Familiarity with actuarial software, programming language and database skills (e.g. VBA, SQL)
• Strong teamwork skills
• Problem-solving skills
• Good communication skills
