Actuarial Services

2 weeks ago


Johannesburg, South Africa Isilumko Staffing Full time

Recruiting a Specialist**:Actuarial Servic**es for **Product Development & Actuarial Support**. This is a **permanent position** for **a long-term insurance** company located in **Menlyn** (PTA). The main purpose of this role is to ensure the **accuracy and reliability of the products and systems** from an actuarial perspective.

**Duties & Responsibilities**:

- **Maintain optimal system accuracy and performance from a values and functionality perspective**
- Provide specifications to IT team on programs used to administer business
- Implement and test automation of system programs for correctness and conduct audits on the administration system
- Assist with automation and integration of other Company Group divisions on the administration system
- Report to management
- Provide accurate and easily accessible information for optimal client servicing (TCF)
- **Contribute to product development**
- Contribute to in-house pricing
- Research new market developments.
- Compare pricing & design of products with competitors
- Test quotation packages for new products (and product reviews)
- **Maintenance of reinsurance treaties**
- Provide data and information to reinsurers for special projects
- Compile and submit reinsurance data and premiums to reinsurers monthly
- Validate profit-share calculation from reinsurers
- Maintain relationships with current and potential future reinsurers
- **Monitoring of actuarial valuation data**
- Monitor the correctness of actuarial valuation data
- Assist IT in the preparation of systems that generate actuarial valuation data
- Assist with implementation of Valuation Report recommendation
- **Provide professional input & support to the Group (amendments & general advice)**
- Answer technical client queries escalated to Actuarial Support
- Attend to ombudsman technical queries
- Validate and audit amendments to policies where actuarial support is required
- Assist with values and product-related queries from other Company departments (letters to be written, values queries, and tax directive management)
- **Updating of financial transactions**
- Implementation of investment portfolio returns on the administration system
- Perform calculations of the assets held against unit accounts for rebalancing
- **Monitoring of in-force business**
- Monitor and analyse in-force data
- Perform experience analysis to confirm lapse assumptions and mortality/morbidity assumptions
- **Administration of Company Retail Retirement Funds**
- Produce annual RA certificates for mailing to clients
- Validate the correctness and submission of tax directives to SARS on claims
- Compilation and submission of documents and monitoring of Section 14 transfers
- Submission of SARS, SARB, and other regulatory reports
- Compilation of the report for the quarterly Company Retail Retirement Funds Trustee Meeting
- Requirements

**Formal Education**
- B Degree in Actuarial Sciences
- Progress with Actuarial Exams

**Experience**
- 2 - 3 years experience in long-term insurance


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