Specialist: Actuarial Services

2 weeks ago

City of Tshwane Gauteng, South Africa Qunu Staffing Full time

**Title**
- Specialist: Actuarial Services

**Department**
- Product Development & Actuarial Support

**Job Type**
- Permanent

**Work Level**
- Skilled

**EE Position**
- No

**Salary**
- Market Related

**Location**
- Gauteng - Menlyn

**Description**

Purpose

To ensure the accuracy and reliability of the products and systems from an actuarial perspective.

Duties & Responsibilities:
**1. Maintain optimal system accuracy and performance from a values and functionality perspective**
- Provide specifications to IT team on programs used to administer business
- Implement and test automation of system programs for correctness and conduct audits on the administration system
- Assist with automation and integration of other Assupol Group divisions on the administration system
- Report to management
- Provide accurate and easily accessible information for optimal client servicing (TCF)

**2. Contribute to product development**
- Contribute to in-house pricing
- Research of new market developments.
- Compare pricing & design of products with competitors
- Test quotation packages for new products (and product reviews)

**3. **Mai**ntenan**ce of **reinsurance treaties**
- Provide data and information to reinsurers for special projects
- Compile and submit reinsurance data and premiums to reinsurers on a monthly basis
- Validate profit-share calculation from reinsurers
- Maintain relationship with current and potential future reinsurers

**4. Monitoring of actuarial valuation data**
- Monitor the correctness of actuarial valuation data
- Assist IT in the preparation of systems that generate actuarial valuation data
- Assist with implementation of Valuation Report recommendation

**5. Provide professional input & support to the Group (amendments & general advice)**
- Answer client queries of a technical nature that was escalated to Actuarial Support
- Attend to ombudsman queries of a technical nature
- Validate and audit amendments to policies where actuarial support is required
- Assist with values and product related queries from other Assupol departments (letters to be written, values queries and tax directive management)

**6. Updating of financial transactions**
- Implementation of investment portfolio returns on the administration system
- Perform calculations of the assets held against unit accounts for rebalancing

**7. Monitoring of in-force business**
- Monitor and analyse in-force data
- Perform experience analysis to confirm lapse assumptions and mortality/morbidity assumptions

**8. Administration of Assupol Retail Retirement Funds**
- Produce annual RA certificates for mailing to clients
- Validate the correctness and submission of tax directives to SARS on claims
- Compilation and submission of documents and monitoring of Section 14 transfers
- Submission of SARS, SARB and other regulatory reports
- Compilation of the report for the quarterly Assupol Retail Retirement FundsTrustee Meeting

**Requirements**:
**Formal Education**

B Degree Actuarial Sciences

Progress with Actuarial Exams

**Experience**

2 - 3 years’ experience in long term insurance

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