Actuarial Specialist Valuations

4 months ago

Johannesburg, South Africa Absa Bank Limited Full time

Bring your possibility to life Define your career with us
- With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.Job Summary

Overall job purpose

To plan, manage and monitor the implementation of actuarial activities and processes for Absa Life and its cell captive businesses, in order to deliver on approved operational plans in an effective and efficient manner. This role supports sound management of business performance and financial risk.

**Job Description**:
Key accountabilities

Management of complex actuarial production processes to deliver sound management of business performance and financial risk.

Processes will include:

- Analytics to ensure accurate financial reporting and support management decision making
- Preparation and analysis of data as inputs to actuarial calculations where required
- Production of management information
- Production of actuarial exercises such as Embedded Value and Value of New Business reporting under the IFRS17 framework, this entails coordinating inputs from the various BAU’s.
- Analysis and reporting of policyholder liabilities under the IFRS17 framework, this entails coordinating inputs from the various BAU’s.
- Refine existing AoS/AoEV processes to be appropriate for reporting under the IFRS17 framework
- Running models to ensure accurate financial reporting and support management decision making at an advanced level
- Periodic experience monitoring and development of underlying models when required
- Development of and maintenance of advanced spreadsheet models
- Development of and maintenance of actuarial open platform software complex models
- Perform independent review and provide actuarial opinions to ensure accuracy of outputs for sound business decision making and ensuring a robust control environment
- Coordination of a committee / forum to enable business and risk management execution and oversight for a sound control environment
- Draft papers for committees on results and present to those committees
- Understand and deliver requirements of internal stakeholders, within the same business unit e.g. Finance Control
- Understand and deliver requirements of internal stakeholders, not within the same business unit i.e. Risk, Group
- Collaboration with and deliver requirements for external stakeholders i.e. head of actuarial control function (HAF), auditors, cell captive businesses etc.
- 1st line quality / assurance review and checking (to ensure accuracy of outputs for sound business decision making and ensuring a robust control environment).
- People management responsibilities (to support talent development and business resilience): Two direct reports.

Education
- Bachelor's Degree: Actuarial Science
- Close to completion of Actuarial Examinations i.e. at least 12 exams

Experience
- +- 5 years’ experience in corporate actuarial life office valuations and reporting
- Exposure to the IFRS17 reporting framework will also be beneficial to applicants

Education

Bachelor's Degree: Actuarial Science
- Absa Bank Limited reserves the right not to make an appointment to the post as advertised_

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