Head of Corporate Actuarial
2 weeks ago
My client who help people grow their savings, protect what matters to them and invest for the future is looking to employ an experienced **Head of Corporate Actuarial**
**Role Purpose**
An exciting opportunity for a nearly of newly qualified actuary exists within the Actuarial team of Momentum Insure. The individual will be responsible for regulatory reporting, reserve setting, reinsurance and forecasting within Momentum Insure.
**Responsibilities and work outputs**
- Report to the regulator regarding solvency and related matters.
- Play a leading role in the analysis and preparation of internal and external reporting material
- Set technical reserves relating to internal management accounts, public disclosed accounts (IFRS 4 & 17) and regulatory reporting.
- Own the technical disclosures where it is dependent on actuarial insight as required by IFRS17
- Own the determination of initial estimates of loss, specifically where they impact management accounts.
- Build and maintain forecasting models to assist in the business planning, budgeting, capital management and ORSA scenarios in the business.
- Control the placement of reinsurance for the entity. This includes broker relationship, panel selection, treaty structure and facultative placement.
- Support and liaise with the Risk Management and Head of Actuarial Function teams.
- Maintain and develop the necessary capital modelling capabilities and statistical models to support effective Risk, Solvency and Capital Assessments, including the assessment of the solvency needs of Momentum Insure.
**Competencies and skills required**
- Good communication skills (written and verbal)
- Independent self-starter
- Good analytical and technical skills
- Ability to work accurately under pressure
- Ability to work well in a team and independently
- Applicable legislative and regulatory framework knowledge
- Strong knowledge of Solvency Assessment and Management (SAM) practices and principles
- Knowledge of International Financial Reporting Standards (IFRS) 4 & 17 concepts frameworks and methodologies including risk management principles
- Understand the financial services industry and environment as well as the technological environment to be able to shape the business strategy around solutions and technology
- Understand the key issues that drive business success and how they impact on the commercial viability of potential ventures and the profitability of the business
**Experience and Qualifications**
- A degree in Actuarial Science
- Good progress along obtaining Fellow of the Actuarial Society of South Africa (FASSA) or similar. Individuals with good progress in this direction will also be considered.
- Microsoft Office skills
- SQL skills would be an advantage
- 5 - 8 years’ experience in an actuarial environment within the Short-term Insurance industry, with at least 3 years’ experience in corporate side.
- 2 - 3 years of managerial experience(advantageous)
**Salary**: R800,000.00 per year
Ability to commute/relocate:
- Centurion, Gauteng: Reliably commute or planning to relocate before starting work (required)
**Education**:
- Bachelors (preferred)
**Experience**:
- Wealth Industry: 1 year (preferred)
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