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.
• 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.
• 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.