The purpose of this role is to assist the Chief Actuarial & Investments in performing all actuarial related calculations and reports.

KEY ACCOUNTABILITIES, MEASURES & INTERFACES
Insurance reserves
– Collect, review, recon and maintain data for the purposes of calculating actuarial technical insurance reserves and IMU liability for financial statements and for regulatory returns.
– Perform data analysis work in preparation for all calculations.
– Perform budget variance analysis on reserves and prepare variance commentary
– Prepare the quarterly actuarial valuation report.
– Contribute to the review of the appropriateness of reserving methodologies.
– Compare best estimate against actual experience.
– Prepare reserves required for budget purposes

Capital requirements
– Collect, review, recon and maintain data for the purposes of calculating capital requirements using the regulatory standard formula and economic capital formula to determine solvency position.
– Perform data analysis work in preparation for all calculations.
– Update and recalibrate the economic capital calculation.
– Contribute to the review of the appropriateness of economic capital methodologies.
– Perform quarterly capital allocation calculations.
– Prepare quarterly and annual qualitative returns (QRTs), and actuarial components of the annual quantitative returns (QRR).
– Prepare quarterly capital management report.
– Own Risk and Solvency Assessment (ORSA)

  • Assist the unit head with asset and liability modelling, ORSA solvency projections and stress/scenario testing.
  • Recalibrate capital projection model.
  • Assist with drafting the ORSA report.
  • Assess the solvency impact of underwriting new business.
  • Assist with reviewing the related risk appetite statements and metrics.

Other
– Contribute to the development of all related policies (asset liability management policy, ORSA policy, reserving policy, reinsurance policy.
– Assist with preparing required information needed for annual financial statement notes.
– Liaise with the actuarial external services providers.
– Assist with reviewing the unit’s risk register.
– Prepare information for related ERP KPI metrics.
– Attend when required the project committee meetings.
– Assist Junior Actuarial Analyst with her/his work.
– Review work prepared by Junior Actuarial Analyst.
– Assist the unit head to plan unit deliverables.

Key Measures
– Quality of technical reserve reports submitted (accuracy and adequate data); Updated models and policies;

Key Interfaces
Chief Actuarial & Investments
– All Operations functions (especially: Finance, PMWU, PEAR, Underwriting)

QUALIFICATIONS & EXPERIENCE
– Honour’s degree in Mathematics or Actuarial Science.
– At least four actuarial board exemptions / exam passes through the Actuarial Society of South Africa or equivalent actuarial society.
– Additional business qualifications are an added advantage.
– 3-5 years of insurance actuarial reserving and capital experience.

SKILLS AND ABILITIES

Should have demonstrated the following competencies:
– Proven proficiency in actuarial concepts/methodologies.
– Extensive knowledge of Excel and VBA programming are an added advantage.
– Knowledge of other Microsoft Office packages (e.g. Word, Power-Point).
– Strong analytical skills, statistical skills and attention to detail.
– Excellent verbal communications, presentation and negotiation.
– Ability to work independently.
– Ability to use own initiative.
– Ability to prioritise own tasks effectively.
– Ability to communicate actuarial concepts to non-specialists.
– Ability to communicate verbally and in writing at all levels.
– Ability to forge relationships with other areas of the business at all levels.
– Problem solving skills to identify issues and present creative and practical solutions.
– Strict attention to detail and deadline orientated.

BEHAVIOURAL COMPETENCIES

Required to have the following Behavioural competencies:
– Problem Solving: Demonstrates an ability to solve problems effectively by systematically analysing the situation, interpreting it and generating solution options based as much on past experiences and precedents, as on novel approaches.
– Business Acumen: Develops and uses a strategy to target own time (and time of others) on a portfolio of customers to maximize revenue and profitability.
– Delivery: Translates business objectives into practical, prioritised and organised action plans; ensures plans are safely and successfully implemented.
– Conflict Resolution division ; : Identifies and pushes for solutions in which all parties can benefit.
– Team Participation: Consistently offers relevant input to team discussions as issues are being clarified and solutions are being developed.
– Flexibility: Available to work more than ordinary business hours.
– Decision Making: This is an analytical role, but the job holder will assist the Actuary in decision making.

If you meet all of the above-mentioned inherent job requirements, please send your detailed CV to [Email Address Removed] on or before the 22 April 2021 with reference ACTURIAL ANALYST MANAGER clearly marked.

Desired Skills:

  • Insurance reserves
  • Capital requirements
  • VBA
  • Data Analysis
  • budget variance analysis
  • actuarial valuation report
  • capital management report
  • ORSA report
  • Insurance
  • Actuarial
  • Actuarial Society of South Africa

Desired Work Experience:

  • 2 to 5 years

Desired Qualification Level:

  • Honours

Learn more/Apply for this position