Actuary/Cons : Balance Sheet mngmnt

4 weeks ago

Bellville, South Africa Sanlam Group Full time
Who are we?

The Sanlam Retail Affluent business (SRA) is dedicated to empower South Africans in the middle- and upper-income segments to be financially confident, secure and prosperous. With deep client understanding and a focus on excellence in technology, client and intermediary experiences, SRA delivers financial solutions including comprehensive financial planning, life- and disability insurance, credit solutions, savings and investments, retirement and fiduciary services that can be accessed through various platforms.

Business Description

The Sanlam Life and Savings (SLS) cluster provides clients with a comprehensive range of appropriate and competitive financial solutions. These include traditional life insurance risk and savings products, investment, retirement, health and fiduciary services. Designed to facilitate long-term wealth creation, protection and niche financing, these solutions are engineered around client needs.

Within the SLS Actuarial team, we believe in creating and cultivating a positive, energised working environment that gives you every opportunity to achieve success. Sanlam is committed to transformation and embracing diversity. This commitment is what drives us to achieve a diverse workplace with employment equity as a key goal to create an inclusive workforce, representative of the demographics of our society as well as people with disabilities.

SLS Risk and Balance Sheet management focusses on:
  • Playing a leading role in optimising and strengthening the strategies, balance sheets and income streams of SLS by providing projections, stresses, sensitivities, and other risk management information to inform these.
  • Understanding and optimising the drivers of profit streams within SLS to aid in dividend management.
  • Providing efficient risk monitoring and reporting, and effective risk management solutions.
  • We perform dedicated balance sheet management by actively identifying opportunities, assessing their viability and driving the implementation.
  • We oversee the embedment of the ORSA in the strategic & risk management of SLS.


What will you do?

Role description and Output/Core Tasks:

SLS Risk and Balance Sheet management is looking for a talented and creative actuary or actuarial student to join the team. The role will fit into the Solvency Optimisation team, which is responsible for:
  • Maintaining and developing models through which insurance business performance (i.e. balance sheets, profits, embedded values, return on capital, solvency position) can be projected and sensitivity-tested for business planning purposes.
  • Developing and maintaining the Required Capital Frameworks for SLS's insurance businesses.
  • Rebuilding the Projection model, allowing for the Business Planning Tool and balance sheet management opportunities.
  • Supporting risk and capital management within SLS in view of further business and regulatory requirements.
  • Fulfilling statutory role(s) as Head of Risk Management Control Function for Retail Mass licences
  • Designing, implementing and reviewing solutions for the Own Risk and Solvency Assessment (ORSA) of Sanlam Life and the SLS Cluster with regard to:
    • Forward looking projections;
    • Stress & scenario testing; and
    • Management Information.


What will make you successful in this role?

Qualifications:
  • Senior actuarial student or qualified actuary


Experience and skills:
The following would be advantageous:
  • Balance sheet management and/or capital management experience.
  • Valuations experience and/or product development experience.
  • Risk management experience.
  • IFRS 17 knowledge and experience.
  • Broad knowledge base.
  • Understanding of insurance products, including their risks and value drivers (i.e. IFRS profit, Embedded Values etc.)


Personal attributes and Competencies:
  • The desire to optimise how businesses operate.
  • Have a desire that your work adds value.
  • Knowledge seeking/learning orientation.
  • Ability to combine conceptual thinking with pragmatic solutions.
  • Ability to work independently as well as part of a team, also across departments, businesses, clusters and legal entity boundaries.
  • Ability and desire to innovate.
  • Good communication skills.


Build a successful career with us

We're all about building strong, lasting relationships with our employees. We know that you have hopes for your future - your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth. Through its five business clusters - Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as MiWay and the Group Office - the group provides many opportunities for growth and development.

Core Competencies

Cultivates innovation - Contributing through others
Customer focus - Contributing through others
Drives results - Contributing through others
Collaborates - Contributing through others
Being resilient - Contributing through others

Turnaround time

The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.

Closing Date: 22 April 2024

Our commitment to transformation

The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa. The Group's Employment Equity plan and targets will be considered as part of the selection process.

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