Lead Actuary for Product Strategy
2 weeks ago
**Job Overview:**
The Recruitment Council is seeking a skilled Lead Actuary to join our team in Cape Town. This key position offers an excellent opportunity for a qualified actuary to contribute to the organization's success.
As a Lead Actuary, you will support the Group Head of Actuarial Function with key responsibilities in actuarial reporting, product management, and model governance. You will lead the development, implementation, and monitoring of product development strategies, pricing structures, and product management processes across the company.
This role requires a strong understanding of long-term insurance products and product management, as well as proficiency in financial reporting standards such as IFRS, Embedded Value (EV), and Solvency Assessment and Management (SAM).
The successful candidate will have a minimum of 5 years of post-qualification experience, with significant exposure to financial reporting.
The estimated salary for this role is R1,200,000 per annum, based on market rates for a Lead Actuary in Cape Town.
Key Responsibilities:
- Assist the Head of Actuarial Function in preparing comprehensive reports for senior management and board subcommittees.
- Lead the development, implementation, and monitoring of product development, pricing strategies, and product management processes.
- Establish and manage model governance frameworks to ensure accurate and compliant actuarial models.
- Oversee and deliver ad-hoc projects, focusing on product management, valuation bases, solvency assessments, and financial reporting.
- Collaborate with the Head of Risk and Capital Analytics on required capital, stress testing, and solvency projections.
Requirements:
- Qualified Actuary (Fellow or Associate), registered with the Actuarial Society of South Africa (FASSA/AMASSA) or a similar recognized professional body.
- Minimum of 5 years of post-qualification experience, with significant exposure to financial reporting.
- Comprehensive knowledge of long-term insurance products and product management is advantageous.
- Proficiency in financial reporting standards such as IFRS, Embedded Value (EV), and Solvency Assessment and Management (SAM).
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