Corporate Actuarial Analyst

1 week ago


Centurion, Gauteng, South Africa Edge Executive Search Full time
Corporate Actuarial Analyst

  • Permanent


JHB00323
  • Finance
  • Gauteng, Centurion
  • Cost To Company (Market related)
  • Do you have experience in Actuarial Life and/or Shortterm Insurance Industries in corporate actuarial?
If yes, our client is looking for you.

  • Requirements:
  • 13 years Actuarial Experience in Life and/or Shortterm Insurance Industries in corporate actuarial work (IFRS, SAM, and/or ORSA).
  • 3year qualification in Actuarial Science or Mathematical Statistics
  • Member of the Actuarial Society of South Africa ("ASSA").
  • Knowledge of Actuarial Software or Programming/Database Language (VBA, SQL, PowerBI, R, Python, Basys, Moses, Prophet, or similar )
  • Advanced Microsoft Office
  • Relevant legislation applicable to insurance companies such as the Insurance Act of 2017 and associated Prudential Standards Financial Soundness for Insurers as well as International Financial Reporting Standards ("IFR17")
  • Knowledge and understanding of the principles, regulations and legislation pertaining to acceptable actuarial policies
  • Ability to understand Financial Statements, Accounting Ratios and Risk Metrics
  • Short term and/or Life Insurance Corporate Actuarial (SAM, ORSA)
  • Short term and/or Life Insurance Product Development & Pricing
  • Reinsurance (short term and/or life insurance)
  • Statistical/Actuarial Models and Analytical Methods

Key responsibilities:

  • Analyze policy movements.
  • Integrate data from other sources to inform the models.
  • Input data to pricing, reserving and capital models accurately.
  • Compare actual experience against expected experience, produce Ave and advise on appropriate actions to be taken
  • Collate data from the reinsurers/reinsurance broker and operations department and conduct the necessary reinsurance analytics prior to reinsurance renewals.
  • Run models for assessing the impact of reinsurance and other risk transfer mechanisms.
  • Cross functional collaboration, providing input and guidance on product related elements across the value chain.
  • Provide input in product performance monitoring and compare pricing metrics against targets for monthly and quarterly reporting of risks on the risk register.
  • Effectively identify problem areas and report to the Head: Actuarial
  • Short Term & Life.
  • Ensure timely submission of various periodical reports to the Head: Actuarial Short Term & Life or Senior Management.
  • Embedded Value calculations and preparation of value of inforce and value of new business metrics.
  • Support the technical pricing on new and renewal business.
  • Assist in the assessment of the impact of new rating factors for the purposes of technical pricing.
  • Assistance in the review and enhance existing products.
  • Develop and implement valuations (IFRS17 and SAM), cash flow and capital models (economic capital and/or regulatory capital).
  • Data extracts to feed into IFRS17 actuarial calculations and associated methodologies and documentation in line with relevant legislation.
  • Monitoring reserve development experience and calculation of actual experience compared against valuation assumptions and propose adjustments asandwhen required.
  • Perform SAM quarterly and annual valuations as per Prudential Standards.
  • Perform the calculations of the Liquidity Shortfall Indicator as per the regulatory requirements to the Prudential Authority.
  • Perform the scenario and stress tests calculations in the periodic Own Risk and Solvency Assessment ("ORSA") process.
  • Establish a forwardlooking assessment of the risk profile and financial position of LBI, compared against the risk appetite and risk limits of LBI; including providing an input in the actuarialrelated components of the ORSA report.
  • For more information please contact:
  • Janice Wagner


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