Head of Capital and Balance Sheet Management

2 days ago

Johannesburg, South Africa Absa Bank Limited Full time

Empowering Africa’s tomorrow, together one story at a time.
- 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 develop tactical strategy and delivery plans, formulate associated practice(s) and to ensure operational implementation and adoption in terms of actuarial methodology, governance and delivery objectives. This role enables sound management of business performance and financial risk.

Job Description

Perform complex actuarial production processes under limited supervision to support sound management of business performance and financial risk.

Processes includes:
1. Solvency Assessment and Management (SAM) Prudential Valuation for Absa Life and the Cells
- Solvency Capital Requirements
- Iterative Risk Margin Calculations
- Dividend proposals
- Quarterly and Annual Returns

2. Investments Mangement
- Asset Liability Modelling (ALM) exercises,
- Setting investment strategies for the business
- Monitoring investment performance against benchmarks and risk appetite
- Regular engagements with the Asset Managers.

3. Running models (to ensure accurate financial reporting and support management decision making) at an advanced level:

- For inputs to processes such as reserving, capital, pricing or business case modelling
- Development of and maintenance of advanced spreadsheet models which may include planning and capital and risk modelling
- Development of and maintenance of actuarial open platform software complex models

4. 1st line quality / assurance review and checking (to ensure accuracy of outputs for sound business decision making and ensuring a robust control environment).

5. Coordination of a committee / forum (to enable business and risk management execution and oversight for a sound control environment);
- Understand and deliver requirements of internal stakeholders, within the same business unit; Understand and deliver requirements of internal stakeholders, not within the same business unit i.e. Risk, Group.

6. People management responsibilities (to support talent development and business resilience)
- Managing a team of 5 Actuarial Specialists and Analysts

Minimum Requirements:

- Qualified Actuary with at least 2 years Post Qualification Experience
- SAM and Capital Management experience Crucial
- Experience in managing people
- Experience of Iterative Risk Margins preferred (not a requirement).

Education

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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