Manager: Actuarial Analysis and Quantification

1 week ago

Centurion, South Africa Ditshaba Full time

**Purpose**:
The Manager: Actuarial Analysis and Quantification is responsible to manage the provision of actuarial support and advice to the business

**Qualifications and Experience**
- Bachelor’s Degree/Advanced Diploma in Actuarial Science/Mathematics related qualification.
- Qualified Associate/Fellow Actuary of (ASSA/IFoA/SoA/CAS) or any other internationally recognized Actuarial Board).
- Postgraduate in Actuarial Science/Mathematics related qualification advantageous.
- 6 - 8 years’ experience in Actuarial environment of which 2 years must be on a management/supervisory level.

**Key Performance Areas**

**Policy review and implementation**
- Contribute to the development and implementation of departmental policy, procedures and processes.
- Keep up to date with effective policy and practice execution strategies.

**Manage the calculation of models for “Loss of Earnings” and “Loss of Support” benefits for motor vehicle claims**
- Participate in the development and assessment of models for loss of income compensation calculations and reports using appropriate techniques to ensure that the data is accurate, and model processes are effective, efficient, high quality, well documented and verifiable.
- Data manipulation to test and calibrate calculation models.
- Setting of calculation assumptions such as mortality rates, interest rates, inflation, contingencies, earnings progression, taxation etc.
- Running the models and producing results.
- Validate the calculation results for reasonability.
- Provide calculation valuation report.
- Ensure that the actuarial results are correctly interpreted and applied by internal and external users

**Research and development on Loss of Income calculation methodologies and models.**
- Research on state of the art modelling and calculation techniques and methodologies
- Implement new and state of art calculation techniques and methodologies.
- Participate in the review and update underlying calculation assumptions and inputs to ensure relevance and appropriateness.
- Running models and reporting on results based on updated models.
- Research on factors and statistics that are more relevant for accurate determination of loss of income compensation

**Manage the provision of actuarial expert advice.**
- Explain the technical aspects and scientific basis of loss of income calculations to internal and external stakeholders.
- Assist with interpretation of legal, medical and other information relevant for calculation of loss of Income compensation.
- Review on loss of Income calculations done by colleagues or other experts and external actuarial service providers
- Review of research on loss of Income calculations and reports done by other experts and external actuarial service providers.
- When required, act as technical expert witness in cases involving loss of income compensation.

**Accident data management and forecasting**
- Participate in the development of models to forecast the number of accidents and claims.
- Manage accident data capturing, analysis and reporting from different sources.

**Reporting**
- Extract data and reports from IT claim system(s).
- Provide results in statistical and graphical form to provide information for monthly, quarterly, half-yearly and annual management reporting.
- Develop functional reporting systems, for management, projects or performance reporting.
- Prepare proposals, briefings, presentations, reports, and other documentation and provide management information both verbally and in report format

**Actuarial investigations.**
- Provide investigation support on various aspects of the loss of income calculation inputs including, distributions of income by age group, geographical location, employment sectors, etc.
- Investigate the potential impact of various assumptions underlying loss of income calculations such as discount rates, mortality and morbidity rates, contingencies, earnings progression, inflation, taxation, remarriage,inheritance and accelerated benefits, etc.
- Provide expense investigation support for the RAF budgeting purposes.
- Provide appropriate reports for different relevant users of investigation results.
- Ensure that the actuarial investigation results are correctly interpreted and applied.

**Stakeholder management**
- Facilitate and manage communication with relevant internal and external stakeholders and proactively and progressively manage the relationships.
- Manage relationships with vendors, service providers or procurement teams and ensure that all relevant procured items are invoiced and paid on Time.
- Communicate with all levels of stakeholder contact.
- Represent the Fund in relevant external activities and events.

**People management**
- Ensure the sourcing, development and retention of a high-performance team.
- Manage the recruitment of the operational workforce in line with employment equity targets.
- Manage staff in the department to ensure that they achieve their objectives

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