Job Vacancies at Munich Re

• We are looking for a highly motivated Actuarial Graduate Trainee to join our Non-Life Corporate Actuarial team. This role offers exposure to non-life reserve monitoring and projection, IFRS 17 reporting, regulatory reporting, and business performance analysis across the Sub-Saharan African portfolio, providing a strong foundation for a career as a professional actuary.

Your Programme:

As a Graduate, you will:

• Participate in soft skills and technical training,
• Receive mentorship and on-the-job training from experienced actuaries,
• Gain experience across reserving, financial reporting, capital management and business performance analysis,
• Participate in cross-functional workstreams, and
• Develop a strong understanding of the role of a reserving and reporting actuary within a global reinsurance environment.

Broader exposure may include:

• Supporting the quarterly and annual non-life reserving process,
• Assisting with IFRS 17 reporting, quality assurance of input assumptions, and analysis of financial results,
• Supporting regulatory capital reporting,
• Performing data validation, reconciliation, and movement analyses,
• Analysing trends and performance of non-life reinsurance business,
• Working with actuarial models and reporting tools,
• Developing and automating actuarial processes using Excel, programming and data analytics tools,
• Preparing actuarial reports, presentations, and management information, and
• Collaborating with actuaries and stakeholders across the business and globally.

Your profile:

• We are looking for candidates who demonstrate strong analytical ability, intellectual curiosity and a passion for solving complex business problems.

Requirements:

• Recent Actuarial Science Graduate (Undergraduate/Honours).  Due to onboarding timelines, applicants who will only complete their undergraduate degree in 2026 will not be considered for this intake. 
• Working knowledge of statistical and mathematical methods and analysis
• Strong attention to detail and commitment to producing high-quality work
• Good written and verbal communication skills
• Ability to learn quickly, manage multiple priorities, and work effectively within a team
• Please include your academic transcript.  Applications submitted without an academic transcript may not be considered.

Munich Re will offer:

• Learning and Development opportunities
• Support with Actuarial Exams 
• 12 months fixed term contract (with a possible 12-month extension)

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• 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