Corporate Actuarial Analyst

2 weeks ago


Centurion, South Africa Edge Executive Search Full time

Corporate Actuarial Analyst
- 2023-05-02 - 2023-05-12
- Permanent
- JHB003238
- Finance- Gauteng, Centurion
- Cost To Company (Market related)- Do you have experience in Actuarial Life and/or Short-term Insurance Industries in corporate actuarial?
If yes, our client is looking for you.
- Requirements:

- 1-3 years Actuarial Experience in Life and/or Short-term Insurance Industries in corporate actuarial work (IFRS, SAM, and/or ORSA).
- 3-year qualification in Actuarial Science or Mathematical Statistics
- Member of the Actuarial Society of South Africa (“ASSA”).
- Knowledge of Actuarial Software or Programming/Database Language (VBA, SQL, PowerBI, R, Python, Basys, Moses, Prophet, or similar )
- Advanced Microsoft Office
- Relevant legislation applicable to insurance companies such as the Insurance Act of 2017 and associated Prudential Standards Financial Soundness for Insurers as well as International Financial Reporting Standards (“IFR17”)
- Knowledge and understanding of the principles, regulations and legislation pertaining to acceptable actuarial policies
- Ability to understand Financial Statements, Accounting Ratios and Risk Metrics
- Short term and/or Life Insurance Corporate Actuarial (SAM, ORSA)
- Short term and/or Life Insurance Product Development & Pricing
- Reinsurance (short term and/or life insurance)
- Statistical/Actuarial Models and Analytical Methods

Key responsibilities:

- Analyze policy movements.
- Integrate data from other sources to inform the models.
- Input data to pricing, reserving and capital models accurately.
- Compare actual experience against expected experience, produce Ave and advise on appropriate actions to be taken
- Collate data from the reinsurers/reinsurance broker and operations department and conduct the necessary reinsurance analytics prior to reinsurance renewals.
- Run models for assessing the impact of reinsurance and other risk transfer mechanisms.
- Cross functional collaboration, providing input and guidance on product related elements across the value chain.
- Provide input in product performance monitoring and compare pricing metrics against targets for monthly and quarterly reporting of risks on the risk register.
- Effectively identify problem areas and report to the Head: Actuarial - Short Term & Life.
- Ensure timely submission of various periodical reports to the Head: Actuarial Short Term & Life or Senior Management.
- Embedded Value calculations and preparation of value of inforce and value of new business metrics.
- Support the technical pricing on new and renewal business.
- Assist in the assessment of the impact of new rating factors for the purposes of technical pricing.
- Assistance in the review and enhance existing products.
- Develop and implement valuations (IFRS17 and SAM), cash flow and capital models (economic capital and/or regulatory capital).
- Data extracts to feed into IFRS17 actuarial calculations and associated methodologies and documentation in line with relevant legislation.
- Monitoring reserve development experience and calculation of actual experience compared against valuation assumptions and propose adjustments as-and-when required.
- Perform SAM quarterly and annual valuations as per Prudential Standards.
- Perform the calculations of the Liquidity Shortfall Indicator as per the regulatory requirements to the Prudential Authority.
- Perform the scenario and stress tests calculations in the periodic Own Risk and Solvency Assessment (“ORSA”) process.
- Establish a forward-looking assessment of the risk profile and financial position of LBI, compared against the risk appetite and risk limits of LBI; including providing an input in the actuarial-related components of the ORSA report.
- For more information please contact:

- Janice Wagner



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