Model Development Specialist

1 week 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 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**:

- Job Description
- Key Accountabilities:- IFRS17 - fulfilment cashflows, risk adjustment & contractual service margin
- Embedded value - adjusted net worth, present value of future profits & cost of capital
- SAM - technical provisions and life non-market risk solvency capital requirements
- 2. Relationship management with 3rd party Prophet software provider as well as assist internal colleagues:
- Attend meetings with 3rd party Prophet software provider
- Validate cloud usage reports to ensure billing is correct
- Act as the 1st point of contact to address Prophet related queries of internal colleagues
- 3. Analytics and financial reporting support:
- Preparation of the analysis of surplus, analysis of embedded value and analysis of basic own funds
- Production of management information for committee meetings
- 4. 1st line Quality Assurance review and checking to ensure accuracy of model outputs for sound business decision making and ensuring a robust control environment.- 5. Model governance by ensuring that the model change documents are sufficiently detailed so that the model change process can be reviewed and signed-off by internal and external stakeholders.- 6. People management responsibilities to support talent development and business resilience, may have 1 to 2 direct reportsEducation

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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