Title:  Senior Pricing Actuary

Munich Re Retakaful, part of Munich Re – the world’s largest reinsurer – is looking for a enthusiastic professional who is interested in technical actuarial pricing work, client interaction and enjoys the challenge of working in multiple markets and being part of a diverse team.

You will cover all aspects of pricing for Individual and Group Family Takaful business for all markets under Munich Re Retakaful. You will also oversee treaty drafting and experience studies, and therefore lead the end-to-end process of pricing a quote to monitoring the experience. Reporting to the Chief Commercial Officer, this pricing team consists of 5 individuals, which includes the Senior Pricing Actuary (this role) and 4 pricing analysts.

Your Role

• Lead the delivery of pricing initiatives for Individual and Group Family Takaful products for all covered markets including Malaysia, Indonesia, and Pakistan, ensuring compliance with internal standards, proper risk assessment and best practice.
• Manage resource prioritisations, delivery timeline and partners.
• Collaborate with client managers, underwriters and client to develop new family takaful products/benefits with consideration of marketability and risk management.
• Manage the end-to-end process of getting approval for quotes that exceed pricing authority (e.g. discussions with Regional Pricing, Underwriting and Claims team).
• Develop the pricing team, providing team members with clear guidance and imparting technical knowledge to the team.
• Develop pricing bases, pricing tools, and models.
• Lead the treaty drafting and negotiations with clients, together with the client managers.
• Lead treaty experience studies, collaborate with the regional experience analysis team to ensure consistent best practices, and present results and recommendations to internal stakeholders.

Your Profile

• Qualified actuary from either FIA, FSA or FIAA.
• 7-8 years of experience in a Pricing role, in a primary insurer or reinsurer.
• Ability to work independently, and manage team members. Ability to take the lead on projects and provide coaching to more junior team members.
• Excellent command of English – both written and verbal.
• Good communication skills with the ability to negotiate, present and share ideas with colleagues and clients.
• Good understanding of reinsurance knowledge and Life Insurance/Family Takaful within the operating markets, particularly Malaysia.

 Our Benefits: 

• Flexible and hybrid working arrangements
• Generous annual leave allowance
• Competitive life and health insurance coverage

At Munich Re, we embrace, and value, the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation. Of our open culture and spirit of partnership. Of how our teams are built and cultivated. Of how we are supported and developed. And at the centre of this interaction is each of us.