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Senior Actuarial Analyst

Location Kuala Lumpur, Malaysia Job type Full-Time Work mode Hybrid Job level Professional Job ID 11278 Company Munich Re Employment type Regular Area of expertise Actuarial & Risk Management
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Munich Re Retakaful, part of Munich Re, the world’s largest reinsurer, is looking for a Senior Actuarial Analyst to join the valuation team.

This team oversees valuation, reserving and financial reporting for Family Retakaful, covering global valuation bases including Solvency II, IFRS, and Local Statutory. You should be interested in technical actuarial work, enjoy working across multiple markets and work closely with Client Managers and actuaries (and non-actuaries) within Munich Re and with clients.

You will report to the Manager, Actuarial Valuation, Munich Re Retakaful and will be based in Kuala Lumpur.

Your Job

  • Conduct and complete experience studies via AXIS for agreed treaties/products, including coordination with regional actuarial teams for review and approval.
  • Support Solvency II, IFRS and Local Statutory reporting to ensure accurate and timely submissions.
  • Coordinate and perform regular experience monitoring, treaty performance analysis and assumption reviews.
  • Coordinate and complete AXIS model conversions for selected treaties, including liaising with regional actuarial teams for review and approval.
  • Maintain up-to-date valuation data, actuarial models, and processes with proper documentation
  • Work closely with team members within the business unit to ensure treaties are accurately set up, valued and reported.
  • Ensure annual surplus sharing calculation is done accurately and submitted to cedants on time.
  • Provide support to Technical Accounting - Life (TA-L) on bordereaux and statement of accounts confirmation where necessary.
  • Provide input to Technical Accounting - Life (TA-L) for quarterly closing and monitoring processes.
  • Support client management in the analysis of business performance; reviewing quarterly prognosis and updating the prognosis figures in cooperation with the client managers.
  • Undertake and complete ad hoc projects requiring actuarial insight, including client consulting, product development.
  • Maintain knowledge of current actuarial developments for various valuation bases (e.g. IFRS17) and developments in the (re)insurance industry across various markets.

Your Profile

  • Degree in Actuarial Science, Mathematics or Statistics with 4 to 5 years of actuarial experience.
  • Progressing towards Fellowship with a recognized actuarial body (FSA, FIA, FIAA or equivalent).
  • Strong technical and analytical skills, logical and concise in approach and demonstrate attention to detail.
  • Strong MS Excel skills (can perform complex functions).
  • Knowledge of VBA and AXIS would be advantageous.
  • A pragmatic approach to business pressure and agility is essential.
  • Self-motivated and able to work within a team environment, with a focus on outcome.
  • An understanding of the products and insurance environment in at least one Takaful market is essential.
  • Strong communication skills in English, both written and verbal.
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Your Benefits

With us, you get more than just an exciting job. Enjoy a wide range of employee benefits tailored to your wellbeing and development. Please note that regional differences may apply.

Competitive Salary

We provide fair and competitive compensation that reflects your performance and commitment.

Company performance-based Incentives

In addition to your salary, our variable compensation approach allows you to share in Munich Re's success.

Recognition and Special Rewards

We recognise outstanding individual contributions through a variety of targeted rewards and incentives.

Retirement Planning

We support your long-term financial wellbeing with retirement solutions aligned with local regulations.

Inclusive Workplace Culture

We foster a respectful, inclusive, and values-driven environment.

Learning & Development

We offer tailored learning opportunities with a strong focus on core skills and business-critical knowledge.

Work-Life-Balance

Supporting your ability to balance family, leisure, and your career.

Health & Wellbeing

We support your physical and mental health through a range of programs and activities in each location.

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