South African Government's COVID-19 Information Page at

Position Title: Senior Actuarial Analyst

Job Summary Statement/Purpose:
The Senior Actuarial Analyst will assist the Actuarial Manager with the day to day operations of the actuarial department within Sasria. This would include the valuation of technical provisions, capital modelling for economic and regulatory purposes, stress testing and scenario analysis, assisting with reinsurance reviews and being involved in any updates to pricing basis.

Current Status: Active

Contract Type: Permanent

Closing Date: June 21, 2021

Click here to apply

Qualifying Criteria

1. Capital Modelling
• Ensure completion of risk metrics for use in reporting to Risk Committee.
• Support the Actuarial Department with periodic asset liability allocation exercise.
• Assess Market and Credit risk based on appropriate VaR models.
• Preparation of information required by Actuarial Manager for calibration of capital models.
• Assistance with reinsurance assessment for reinsurance renewals.
• Valuation of regulatory and economic capital requirements using internal models
• Regular review and update of actuarial models.

2. Reserving
• Assimilation and verification of required data.
• Analysis of claims experience relative to reserves.
• Valuation of quarterly and annual reserves.
• Preparation of the Technical Provisions report.

3. Own Risk and Solvency Assessment (ORSA)
• Assist with key ORSA functions including setting of risk appetite, risk budget, scenario identification and quantification as well as capital and financial projections.

4. Compile reports and documents

• Completion of Prudential Authority returns.
• Assist in the preparation of Monthly/Quarterly/Annual or ad-hoc performance reports for Executive Management, the Board of Directors and Regulatory Agencies.
• Remain informed of changes in trends in relation to modelling data specifically pertaining to the insurance industry environment.

5. People Management
• Ensure that the working environment contributes to improving staff morale and increasing productivity.
• Develop Individual & Team Competence.
• Ensure that all staff are trained, skilled and that their expertise is fully applied.
• Ensure that working environment contributes improving staff morale and increased productivity.

6. Ad-hoc
• Build and maintain relationships throughout the business inclusive of Head of Actuarial Function, Finance, Claims, IT as well as Underwriting teams.

• Actuarial degree.
• Minimum of 8 actuarial exemptions including CA1 or equivalent good progress with ASSA exams with commitment to completion of all exams within a defined period OR Honours degree in Statistical Analysis /Actuarial Science (NQF level 7).
• 3-5 years’ experience in a similar position, preferably in insurance or investment management fields.
• Understanding of short-term insurance business.
• Good knowledge of Insurance Act and in particular SAM specifications and processes would be an advantage.

• Strong knowledge of SAM
• IFRS17 knowledge would be an advantage
• Microsoft Office 365
• Expertise on trend analysis and forecasting
• Excellent knowledge of actuarial modelling including scenario analysis and stress testing

• Strong actuarial technical skills
• Experience in programming languages like VBA and python will be advantageous
• Proficient MS Office skills
• Project Management

• Excellent self-motivation skills
• Keen attention to detail
• Analytical and creative problem-solving skills
• Excellent organisational skills
• Ability to work accurately under pressure
• Interpersonal communication and presentation skills
• Sound written and verbal communication skills
• Ability to work autonomously, however collaborate with team where necessary

  •  A South African citizen of any gender, preference will be given to an EE candidate.
  • The role will be in Illovo, Johannesburg.