Actuarial Manager

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

Job Description:

Reserving

  • Build processes and data extracts to feed into reserving calculations, including IFRS 17 calculations
  • Have a good understanding of the policy administration system and corresponding data flow into financials
  • Monitoring reserve development experience and collaborating with key stakeholders to ensure understanding of trends and impacts on the business
  • Communicate results to key stakeholders
Regulatory Reporting

  • Operate the SAM regulatory capital model
  • Maintain and further develop the Python code underlying the model
  • Have a good understanding of policy administration system and data flow into financials
  • Communicate results to key stakeholders
  • Continuous improvement and automation of the various models
Own Risk and Solvency Management (ORSA)

  • Operate the ORSA projection model
  • Set and monitor quantitative risk appetite metrics
  • Perform stress and scenario testing as part of the Company's ORSA processes
  • Maintain the ORSA model and identify areas of improvement
  • Communication of results to key stakeholders
People Responsibilities

  • People Manage a small team of actuarial analysts
  • Manage deliverables and timelines in own team
Education and experience required

  • A Degree in Actuarial Science (Honours degree would be advantageous)
  • At least 5 years actuarial work experience within the nonlife insurance industry
  • Newly or nearly qualified actuary with good exam progression towards qualifying as a Fellow actuary
  • Good understanding of the SAM Financial Soundness Standards for Insurers (FSIs) and experience in performing capital calculations
  • Experience in nonlife reserving techniques
  • Experience in extracting and transforming data and designing automated processes
  • Programming in SQL, Python or VBA (would be advantageous)
Knowledge and skills

  • Strong analytical skills with the ability to take on complex problems
  • Good understanding of insurance policy administration and financial systems
  • Comfortable adapting and responding to change
  • Excellent written and verbal communication skills
  • Excellent time management skills with the ability to prioritise deliverables and manage stakeholder expectations
  • High degree of motivation and initiative
Education

Bachelor's Degrees and Advanced Diplomas:
Business, Commerce and Management Studies (required)

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

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