Head: Corporate Actuarial

**THE JOB AT A GLANCE**

As the Head: Corporate Actuarial, you will be reporting to the Executive Actuary, you will be responsible for overseeing a team of actuarial professionals that will be responsible for ensuring that all life and non-life actuarial valuations are prepared timeously and accurately. You will also be responsible for overseeing of the development and maintenance of the actuarial valuation system and data integrity. An integral part of the role will also be supporting business with insights and producing reports for the executive and various committees.

**WHAT WILL YOU DO?**
- Management of the actuarial function
- Oversee the preparation of and review monthly valuation data
- Maintain the integrity of actuarial and valuation data
- Timeously respond to actuarial queries from the regulators (FSB/SARB/SARS)
- Plan and Budget actuarial matters and maintain a timetable of submission (financial projections)
- Inform management of actuarial specific regulatory issues (solvency and capital requirements) for the Group
- Ensure that a summary of returns and any actuarial issues are maintained to report to management (EXCO/BOARD/AUDIT etc)
- Prepare and present actuarial matters to the Board and act as an advisor to the Board and its sub-committees
- Develop pricing models, ensure validity of assumptions and sufficiency of pricing (COID and Non-COID products)
- Set premium rates
- Develop and maintain Actuarial systems
- Monitor experience (reserving and pricing)
- Responsible for capital and solvency management and investment management through liability matching (ensure that assets are appropriate in terms of nature, amount and duration for liabilities that are held
- Responsible for the end-to-end management of the reinsurance process, including but not limited to negotiating treaties, facilitating transfers, setting and maintaining new strategies, mitigating risks and managing reinsurance renewals annually
- Prepare actuarial specific areas in all the Group regulatory returns
- Monthly, Quarterly, Annual
- ORSA and SAM reporting
- Staff management and monthly reporting
- Manage, supervise and training of staff
- Manage relationships within the company and stakeholders e.g. Statutory Actuary
- Lead and motivate a team to achieve targets
- Monthly reporting of the Key Performance indications for the actuarial reporting function
- Monthly report to FM on status of accounts and returns for EXCO submission
- Effective reporting and assessment of problem areas
- Regulatory compliance
- Ensure that all work is performed in terms of required standard and regulation
- Ensure that RMA’s position is translated into standards by assessing gaps in methodology, assumptions and overall products and align standards to RMA)
- Ensure that all company policies and procedures are adhered to
- Ensure timely submission of various periodical reports, highlights of the previous month’s reports
- Staff management and monthly reporting
- Manage, supervise and training of staff.
- This includes both the actuarial teams working on the COID business as well as the Life Business and providing support to the AIT (IT) business.
- Manage relationships within the company and stakeholders e.g. Statutory Actuary
- Lead and motivate a team to achieve targets
- Monthly reporting of the Key Performance indications for the actuarial reporting function
- Monthly report to FM on status of accounts and returns for EXCO submission
- Effective reporting and assessment of problem areas
- Regulatory compliance
- Ensure that all work is performed in terms of required standard and regulation
- Ensure that RMA’s position is translated into standards by assessing gaps in methodology, assumptions and overall products and align standards to RMA)
- Ensure that all company policies and procedures are adhered to
- Ensure timely submission of various periodical reports, highlights of the previous month’s reports

**WHAT YOU'LL BRING TO THE TABLE?**

NQF Level 7: Bachelor’s degree - Actuarial Science

Qualified Actuary

Member of Actuarial Society /Institute of Actuaries

Minimum 8 years’ experience in an insurance regulatory environment

Minimum 5 years’ experience within actuarial environment, with specific experience related to valuations

Advanced Excel

Insurance knowledge is essential

Reporting experience

Valuation experience

Life and non-life experience

Knowledge of the Insurance Acts (long and short term) including SAM, IFRS17

Actuarial guidelines

Experience leading/managing a team

**WHAT WILL YOU GET IN RETURN?**

This is an exciting opportunity within the Rand Mutual Assurance Actuarial team, offering exposure to an interesting combination of technical and business issues. This is a great time to join RMA as we look to grow the Life business and develop our actuarial team.

We offer great opportunities for personal and professional development in a stable company that’s 128 years strong. The role comes with a competitive salary packa