Head of Corporate Actuarial

5 days ago

Centurion, South Africa Momentum Metropolitan Holdings Full time

-Introduction

Through our client-facing brands Metropolitan and Momentum, with Multiply (wellness and rewards programme), and our other specialist brands, including Guardrisk and Eris Property Group, the group enables business and people from all walks of life to achieve their financial goals and life aspirations.
Role Purpose

An exciting opportunity for a nearly of newly qualified actuary exists within the Actuarial team of Momentum Insure. The individual will be responsible for regulatory reporting, reserve setting, reinsurance and forecasting within Momentum Insure.
Requirements
- A degree in Actuarial Science
- Good progress along obtaining Fellow of the Actuarial Society of South Africa (FASSA) or similar. Individuals with good progress in this direction will also be considered.
- Microsoft Office skills
- SQL skills would be an advantage
- 5 - 8 years’ experience in an actuarial environment within the Short-term Insurance industry, with at least 3 years’ experience in corporate side.
- 2 - 3 years of managerial experience(advantageous)
Duties & Responsibilities
- Report to the regulator regarding solvency and related matters.
- Play a leading role in the analysis and preparation of internal and external reporting material
- Set technical reserves relating to internal management accounts, public disclosed accounts (IFRS 4 & 17) and regulatory reporting.
- Own the technical disclosures where it is dependent on actuarial insight as required by IFRS17
- Own the determination of initial estimates of loss, specifically where they impact management accounts.
- Build and maintain forecasting models to assist in the business planning, budgeting, capital management and ORSA scenarios in the business.
- Control the placement of reinsurance for the entity. This includes broker relationship, panel selection, treaty structure and facultative placement.
- Support and liaise with the Risk Management and Head of Actuarial Function teams.
- Maintain and develop the necessary capital modelling capabilities and statistical models to support effective Risk, Solvency and Capital Assessments, including the assessment of the solvency needs of Momentum Insure.
Competencies
- Good communication skills (written and verbal)
- Independent self-starter
- Good analytical and technical skills
- Ability to work accurately under pressure
- Ability to work well in a team and independently
- Applicable legislative and regulatory framework knowledge
- Strong knowledge of Solvency Assessment and Management (SAM) practices and principles
- Knowledge of International Financial Reporting Standards (IFRS) 4 & 17 concepts frameworks and methodologies including risk management principles
- Understand the financial services industry and environment as well as the technological environment to be able to shape the business strategy around solutions and technology
- Understand the key issues that drive business success and how they impact on the commercial viability of potential ventures and the profitability of the business

Policy

We are committed to Employment Equity, diversity and inclusion when recruiting internally and externally. All appointments are made in alignment to our Employment Equity goals and we encourage people with disabilities to apply.

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