Assistant Manager: Actuarial Control Function
1 month ago
Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.
Job Description
Design, develop and implement the actuarial risk framework in a multi-channel / multi-product business to support reserving, financial reporting and loss planning processes.
Collaborate across actuarial functions to build strong actuarial standards and capabilities in Solvency Assessment & Management (SAM) across all African operations.
Ensure best practice actuarial frameworks and processes are followed.In collaboration with the Chief Actuary ensure the appropriateness of the methodologies and underlying models used as well as the assumptions made in the calculation of technical provisions and capital requirements.
Review of the calculation of technical provisions as required.Review the build, parameterisation, refinement and validation of the organisation's internal capital model.
Review the use of the economic capital models for business applications (e.g. Reinsurance Structuring and Business Planning).
Ensure the economic capital model is operating in a controlled and well-governed manner.
Assess the sufficiency and quality of the data used for capital modelling, reserving and SAM calculations as required.
Review Standard Formulae Model under SAM.
Develop risk parameters for various requirements (e.g. market, operational, underwriting and non-life) using capital modelling tools.
Review actuarial projections regularly.
Review actuarial technical guidelines and methodologies as well as test and review capital models.
Support the approval process of all new products and amendments to products.
Review controls for all required areas with actuarial functions to assess the effectiveness of controls.
Provide support to risk management function including the ORSA and Risk Appetite / Strategy.
Provide required oversight in areas of the business requiring actuarial sign-off (including pricing, product development, reinsurance, proposed transactions and others).
Participate in the relevant local and OM Group governance and other structures as required.Skills
Education
Closing Date
06 August 2024
The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.
Old Mutual Limited is pro-vaccination and encourages its workforce to be fully vaccinated against Covid-19.
All prospective employees are required to disclose their vaccination status as part of the recruitment process.
Please refer to the Old Mutual's Covid-19 vaccination policy for further detail. Kindly note that Old Mutual reserves the right to reinstate the requirement to vaccinate at any point if it is of the view that it is imperative to do so.
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