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Group Pricing Actuary / Senior Group Pricing Actuary

Location Sydney, Australia Job type Full-Time Work mode Hybrid Job level Professional Job ID 10591 Company Munich Re Employment type Regular Area of expertise Actuarial & Risk Management
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As the world's leading reinsurance company with 40,000 employees in over 50 locations across all parts of the world, Munich Re introduces a paradigm shift in the way you think about insurance. By turning uncertainty into manageable risk we enable fundamental change. Join us working on topics today that will concern society tomorrow, whether that may be climate change, major construction projects, medical risk assessment or even space travel. 

Together we embrace a culture where multiskilled teams dare to think big. We create the new and the different for our clients and cultivate innovation. Sounds like you? Make it happen and be part of Munich Re.

Munich Reinsurance Company of Australasia Limited (MRA) is the APRA authorised life insurer in Australia. MRA is part of the wider Life Asia Pacific division, with its hub in Singapore with its purpose to drive sustainable life insurance with our clients for our community.

The Group Insurance team is responsible for managing and growing MRA’s group insurance portfolio. We are looking for a Group Insurance Pricing Actuary to join the team, which works closely with life insurer clients and plays an active role in supporting business functions across MRA to deliver exceptional service to new and prospective group insurance clients.

Your Role: 

The primary objective of the position is to work with all areas of the Life business to ensure we deliver to goals, through timely client profitability analysis that delivers positive outcomes for allocated clients and creation of a profitable and sustainable future for the business.

This will also include:

  • Management of allocated client pricing relationships
  • Leadership in pricing process improvement (efficiency and control)
  • Management of the delivery of product and pricing changes
  • Management of requests for proposals and responses to tenders
  • Provision of technical support and guidance for the pricing team
  • Provision of timely and appropriate advice to internal stakeholders, to ensure understanding of profitability and proposing solutions where required
  • Role modelling leadership and continually improving team performance and capability through feedback, development and empowerment
  • Performing risk controls effectively, efficiently and economically, within the accountabilities of the function.

Your Profile:

  • Qualified Actuary (Fellow - FIAA or equivalent international standard) in reinsurance or direct insurance 
  • Knowledge of the Life Insurance Acts in Australia
  • 7+ years  life pricing experience in the Australia/NZ market is essential
  • 3+ years Australian Group life pricing experience is essential 
  • Experience leading projects / quotes is preferred

Unlock your potential with a market leader who will help you break new ground and make global impact. Our greatest strength lies in our employees. The Munich Re team environment is designed to help you be your very best. We actively support you in the growth of your professional and personal development, through:

Continuous Conversations

We use a multi-directional and frequent feedback loop to help our employees understand how they can optimise performance, both individually and as a team.

Continuous Learning

You are entrusted to own and lead your personal and professional development; and we are dedicated to providing you with tools and opportunities to accelerate learning and advancement in your career.

Career Mobility

We actively support career mobility, and our strong global and regional presence offers a wealth of career growth opportunities for you.

Diversity & Inclusion

Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.

Working together, we are an employer of choice by building the workforce for today and the future.We make it happen. Together.

Push Boundaries. With us. | Munich Re

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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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