Actuarial Manager

4 days ago

Sandton South Africa Boardroom Appointments Full time R1 200 000 - R2 400 000 per year


Actuarial Manager

Internal Process
  • Provide analysis of results, engage directly with auditors, and prepare internal and external capital reporting material.
  • Establish and implement consistent processes and controls across the business to ensure accurate reporting and effective risk management.
  • Take accountability for developing and maintaining Prophet technical provisions modelling and capital models for cell clients allocated to the team.
  • Vet accounting data, asset data, reinsurance data, and exposure data used for actuarial valuations.
  • Deliver quantitative projections for the annual ORSA on allocated cell clients.
  • Deliver annual, quarterly, and monthly SCR analysis of The Company Life and its cells, in line with Group practices and policies.
  • Develop financial insights into proposed product developments and reinsurance arrangements.
  • Oversee dividend review and sign-off processes.
  • Support business stakeholders with capital projections and plans for new business onboarding and sign-off.
  • Collaborate with internal and external stakeholders, identifying and resolving conflicting interests.
  • Drive change management initiatives in response to regulatory and technical developments.
  • Oversee continued automation of the SAM capital modelling infrastructure.
Client
  • Build and maintain strong relationships with clients and stakeholders.
  • Contribute to maintaining a competitive edge through external networking, benchmarking, and representation on industry forums.
  • Engage with key internal and external stakeholders to identify evolving client needs and recommend service alignment strategies.
People
  • Participate in the development and implementation of a broader people strategy specific to the actuarial job family.
  • Create a positive work climate and culture to minimise disruption and maximise employee productivity.
  • Foster a culture of best practice, continuous learning, improvement, and team cohesion.
  • Promote a learning and growth culture by encouraging open sharing of insights, trends, and lessons learned.
  • Identify employee growth and development needs and schedule relevant training and development interventions.
Finance
  • Contribute to the resolution of high-risk and problematic capital issues within your area of responsibility.
  • Provide input and feedback on financial policies, practices, and procedures, ensuring adherence to ethical and legal standards.
  • Develop and implement governance, compliance, and risk management policies to identify and manage exposure and liability.
Competencies Required
  • Minimum of 3 years' management experience.
  • Expert knowledge of Prophet software.
  • Proficient in Prophet, MS Office, and working knowledge of MS SQL.
  • Intermediate to advanced programming experience.
  • Advanced understanding of the SCR components of a life insurer, as per the Prudential Standards (cell captive experience is advantageous).
  • Knowledge of relevant legislation, including the Insurance Act, Prudential Standards, and IFRS 17.
  • Advanced understanding of discounted cash flow models, reserving methods, and liability valuation methods.
  • Strong skills in Prophet software coding and model development.

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