Head : Sanlam Life Regulatory Actuarial Reporting

2 weeks ago

Bellville, South Africa Sanlam Full time

Who are we?
The Sanlam Retail Affluent business (SRA) is dedicated to empower South Africans in the middle
- and upper-income segments to be financially confident, secure and prosperous. With deep client understanding and a focus on excellence in technology, client and intermediary experiences, SRA delivers financial solutions including comprehensive financial planning, life
- and disability insurance, credit solutions, savings and investments, retirement and fiduciary services that can be accessed through various platforms. What will you do?

**Output/Core Tasks**:
As the line manager to 8 actuarial professionals, you will be responsible for the following Sanlam Life, SDM, African Rainbow Life and Safrican reporting requirements:
Regulatory reporting (emanating from the Solvency Assessment and Management (SAM) program) for both Base and ORSA scenarios - Own Funds, Technical Provisions and SCR calculations
International Capital Standards (ICS) Reporting
Stochastic calculations and consolidation of Investment Guarantee reserves
Adhoc Prudential Authority and SARB regulatory reporting requests

**The team as a whole is responsible for the following tasks**:
Perform asset stresses, co-ordinate the liability stressing process, and consolidate the results obtained in order to calculate the SCR, ORSA and ICS results
Explanation of the quarterly and annual SAM results to senior management, including the Heads of Actuarial Functions and Heads of Actuarial Reporting of Sanlam Life, SDM, ARL and Safrican
Reporting of quarterly and annual SAM results to the regulator via the SAM QRTs, using the existing HFM process
Identify, investigate and implement capital optimisation measures
Collaborate with Risk and Balance Sheet management team on projection of future capital requirements
Interact with internal and external auditors as part of the valuation process, and to close identified gaps
Interpret and implement changes in the Regulatory Prudential Standards and related guidance, pertaining to Reporting
Continuous improvement and automation of existing Regulatory reporting processes, including assisting with the embedment of an Actuarial Results Warehouse and an improved Asset Stressing Tool in SAP HANA
Ad-hoc Regulatory Reporting related investigations and tasks, including interacting with the wider business to resolve queries and respond to regulatory requests
Engage with the asset data warehouse team to ensure that the asset data received is suitable for solvency reporting
Regulatory and ORSA-related engagement and support to the Sanlam Group solvency processes as well as other life licence entities within SRA, Sanlam Corporate and Sanlam Retail Mass
Management of the Economic Scenario Generation calibration process
Management of the IGR/TVOG and Regulatory Reporting stochastic liability calculations for Sanlam Life SRA, Sanlam Life SC, SDM and Namibia
Reporting and management of monthly economic assumptions used in all valuations iro all scenarios and bases
What will make you successful in this role?

**Role Requirements**:
**Qualifications**:
An Actuarial Fellowship qualification

**Experience & Knowledge**:
Experience in an actuarial reporting environment including IFRS, EV and Regulatory Reporting bases
Good knowledge of Sanlam Life’s products would be an advantage
Good knowledge of Regulatory Reporting specifications and processes would be an advantage

**Personal attributes and Competencies**:
Strategic thinking
Strong technical and operational ability
Strong operational process focus
Good attention to detail
Decision making abilities
Effective communicator of technical information
Innovative and conceptual thinking
Influencing/gaining commitment
Building and maintaining relationships
Results driven
Leadership and managerial qualities
Ability to deliver to tight deadlines
Personal Attributes Business insight - Contributing strategically Financial acumen - Contributing strategically Develops talent - Contributing strategically Builds effective teams - Contributing strategically Build a successful career with us
We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future - your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth. Through its four business clusters - Sanlam Life and Savings, Sanlam Investment Group, Sanlam Emerging Markets, Santam, as well as MiWay and the Group Office - the group provides many opportunities for growth and development. Core Competencies Cultivates innovation - Contributing strategically Customer focus - Contributing strategically Drives results - Contributing strategically Collaborates - Contributing strategically Being resilient - Contributing strategically Turnaround time

**Closing Date**: 25 August 2023 Our commitment to transformation
The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is wha

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