Position Title: Actuarial Consultant, experience study & structured solutions

Reporting to Chief Actuary with dotted-line reporting to Head of Structured Solutions

We are seeking a motivated and enthusiastic professional with a strong interest in technical actuarial work and business development in Munich Re Korea. In this role, you will focus on conducting actuarial experience studies and supporting the development of non-traditional reinsurance solutions (Structured Solutions) in the Korean reinsurance market. The position offers the opportunity to work across multiple markets and collaborate closely with regional teams across the Asia Pacific region, gaining valuable exposure and a broad perspective on the evolving reinsurance landscape. In this role, you will be reporting to the Chief Actuary, with a dotted-line reporting to the Head of Structured Solutions.

You will be working as a key contributor to both technical actuarial work and the development of innovative reinsurance solutions within our Life & Health Business unit.

Your Role

·         Identify key risks in pricing quotes, perform profitability analysis, and support regional reviews to propose competitive reinsurance terms

·         Collaborate closely with the regional Pricing and Structured Solutions team to structure transactions tailored to client needs, considering local and group accounting requirements, regulatory frameworks, and client-specific capital, tax, and volatility considerations, as well as Munich Re’s structural strengths

·         Analyze product features within transactions to ensure a thorough understanding of associated risks and appropriately assess underlying assumptions

·         Price transactions to ensure all risks are adequately reflected and internal profitability targets are met; conduct treaty reviews as needed

·         Support and drive internal approval processes with stakeholders, including Munich Re Head Office

·         Develop and maintain actuarial models used for experience studies, prepare and validate model input data

·         Lead or support quarterly reporting processes (e.g., Solvency II, valuation, monitoring), and continuously identify opportunities for improvement

·         Support monitoring, accounting, valuation, and forecasting of new and in-force business

·         Engage with clients as needed to support business development and pricing-related discussions

·         Contribute to data analytics initiatives and related projects

Your Profile

·         Minimum 5+ years of experience in a primary insurance company, actuarial consulting firm, or related field

·         Associate or Fellow of a recognized actuarial body (e.g. FIAK, ASA, FSA, FIA, FFA or FIAA)

·         Strong knowledge of IFRS17 and K-ICS

·         Solid understanding of the Korean insurance market and regulatory environment

·         Strong technical and analytical skills with a logical, detail-oriented approach

·         Strong proficiency in SQL and Python for data manipulation, analysis, and automation

·         Strong communication skills

·         Native in Korean and working proficiency in English (both verbal and written)

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 center of this interaction is each of us.