Actuarial Manager

2 weeks 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

**Job Description**:
Reserving
- Build processes and data extracts to feed into reserving calculations, including IFRS 17 calculations
- Have a good understanding of the policy administration system and corresponding data flow into financials
- Monitoring reserve development experience and collaborating with key stakeholders to ensure understanding of trends and impacts on the business
- Communicate results to key stakeholders

Regulatory Reporting
- Operate the SAM regulatory capital model
- Maintain and further develop the Python code underlying the model
- Have a good understanding of policy administration system and data flow into financials
- Communicate results to key stakeholders
- Continuous improvement and automation of the various models

Own Risk and Solvency Management (ORSA)
- Operate the ORSA projection model
- Set and monitor quantitative risk appetite metrics
- Perform stress and scenario testing as part of the Company’s ORSA processes
- Maintain the ORSA model and identify areas of improvement
- Communication of results to key stakeholders

People Responsibilities
- People Manage a small team of actuarial analysts
- Manage deliverables and timelines in own team

Education and experience required
- A Degree in Actuarial Science (Honours degree would be advantageous)
- At least 5 years actuarial work experience within the non-life insurance industry
- Newly or nearly qualified actuary with good exam progression towards qualifying as a Fellow actuary
- Good understanding of the SAM Financial Soundness Standards for Insurers (FSIs) and experience in performing capital calculations
- Experience in non-life reserving techniques
- Experience in extracting and transforming data and designing automated processes
- Programming in SQL, Python or VBA (would be advantageous)

Knowledge and skills
- Strong analytical skills with the ability to take on complex problems
- Good understanding of insurance policy administration and financial systems
- Comfortable adapting and responding to change
- Excellent written and verbal communication skills
- Excellent time management skills with the ability to prioritise deliverables and manage stakeholder expectations
- High degree of motivation and initiative

Education

Bachelor's Degrees and Advanced Diplomas: Business, Commerce and Management Studies (required)
- Absa Bank Limited reserves the right not to make an appointment to the post as advertised_

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