Head of Model Development

2 weeks ago


Johannesburg, Gauteng, South Africa Absa Bank Limited Full time
Bring your possibility to life Define your career with us

  • With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
Job Summary

Overall job purpose

To develop and maintain actuarial models and provide input to actuarial methodology.

Job Description:

Key Accountabilities:

  • IFRS1 fulfilment cashflows, risk adjustment & contractual service margin
  • Embedded value adjusted net worth, present value of future profits & cost of capital
  • SAM technical provisions and life nonmarket risk solvency capital requirements
Relationship management with 3rd party Prophet software provider as well as assist internal colleagues:

  • Attend meetings with 3rd party Prophet software provider
  • Validate cloud usage reports to ensure billing is correct
  • Act as the 1st point of contact to address Prophet related queries of internal colleagues

Analytics and financial reporting support:

  • Preparation of the analysis of surplus, analysis of embedded value and analysis of basic own funds
  • Production of management information for committee meetings
4.

1st line Quality Assurance review and checking to ensure accuracy of model outputs for sound business decision making and ensuring a robust control environment.


  • Model governance by ensuring that the model change documents are sufficiently detailed so that the model change process can be reviewed and signed-off by internal and external stakeholders.
  • People management responsibilities to support talent development and business resilience, may have 1 to 2 direct reports.
Education

Bachelor's Degree:
Actuarial Science

  • Absa Bank Limited reserves the right not to make an appointment to the post as advertised_


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