Head of Corporate Actuarial

1 month ago

Randburg, South Africa SPECD (Pty) Ltd Full time

We are recruiting for the position of a HEAD OF CORPORATE ACTUARIAL to join a leading insurance company, that specialises in offering of insurance products for employees across many industries, assisting with COID cover, occupational injuries cover, funeral cover and more.
 
Reporting to the Executive Actuary, the Head of Corporate Actuarial 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.
 
The incumbent 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.



Job Title:                        Head - Corporate Actuarial
Work Location:              Parktown, Johannesburg
Employment Type:        Permanent, On-site

DUTIES AND RESPONSIBILITIES: 
1.  Management of the actuarial function:
 
  • Oversee both the actuarial teams working on the COID business as well as the Life Business and providing support to the AIT (IT) business.
  • Oversee the preparation of and review monthly valuation data.
  • Oversee the application of ORSA methodology and SAM processes and procedures.
  • 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.

2.   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.
3.   Regulatory compliance:
  • Ensure that all work is performed in terms of required standard and regulation.
  • Ensure that the position of the company is translated into standards by assessing gaps in methodology, assumptions and overall products and align standards to that of the organisation.
  • Ensure that all company policies and procedures are adhered to.
  • Ensure timely submission of various periodical reports, highlights of the previous month’s reports.
QUALIFICATIONS, SKILLS, AND EXPERIENCE:1.   Qualification Requirements:
  • NQF Level 7: Bachelor’s degree – Actuarial Science.
  • Progress towards actuarial exams – Qualified or nearly qualified.
  • Actuarial Society /Institute of Actuaries.
2.   Minimum Experience:
  • Minimum 8 years’ experience in an insurance regulatory environment.
3.  Knowledge and Skills Required:
  • 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.
PACKAGE & REMUNERATION:
  • Will be agreed based on qualifications, applicable experience, and previous earnings.

  • Head of Product Development

    4 weeks ago

    Randburg, South Africa SPECD (Pty) Ltd Full time

    We're currently seeking a highly qualified individual to fill the role of HEAD OF PRODUCT DEVELOPMENT & PRICING at a prominent insurance company, specializing in a range of insurance products for employees spanning various industries, including COID cover, occupational injuries cover, funeral cover, and more.  Reporting to the Executive Actuary, the Head of...

  • Head of Pricing

    3 weeks ago

    Randburg, South Africa Marvel Placement Consultants Full time

    Minimum Requirements: Matric. Minimum NQF Level 7, i.e. University degree in Actuarial Science or a related field. Beneficial: Qualified FASSA designation of the Actuarial Society of South Africa or an international. + 5 years short term insurance pricing experience, including modelling and deployment. Experience of providing actuarial advice to senior...

  • Head of Pricing

    3 weeks ago

    Randburg, South Africa Marvel Placement Consultants Full time

    Minimum Requirements:Matric.Minimum NQF Level 7, i.e. University degree in Actuarial Science or a related field. Beneficial: Qualified FASSA designation of the Actuarial Society of South Africa or an international.+ 5 years short term insurance pricing experience, including modelling and deployment.Experience of providing actuarial advice to senior...

  • Head of Pricing

    3 weeks ago

    Randburg, South Africa Adzuna ZA B C2 Full time

    Minimum Requirements:Matric.Minimum NQF Level 7, i.e. University degree in Actuarial Science or a related field. Beneficial: Qualified FASSA designation of the Actuarial Society of South Africa or an international.+ 5 years short term insurance pricing experience, including modelling and deployment.Experience of providing actuarial advice to senior...

  • Master Data Coordinator

    4 weeks ago

    Randburg, South Africa B. Braun Medical (Pty) Ltd. Full time

    B. Braun Medical (PTY) Ltd based in Johannesburg, South Africa require the services of a Master Data Coordinator to be based at our Head Office in Northriding, Johannesburg. B. Braun is a leading medical device and pharmaceutical company, which currently has more than 63,000 employees globally, and offices and production facilities in more than 60...

  • Head of Operations

    1 month ago

    Randburg, South Africa FirstRand Full time

    Job Description The Head of Operations Business Unit anticipates the impact of business strategy on other divisions within the Organisation. The incumbent ensures consistency of delivery and enhanced customer and partner experience. The incumbent provides guidance for the relevant mechanisms to receive feedback, highlights operational inefficiencies and...

  • Group Industrial Relations Manager

    1 month ago

    Randburg, South Africa Edge Executive Search Full time

    MAIN RESPONSIBILITIES Design and deliver an over-arching industrial relations strategy with the key focus on modernising Trade Union relationships  Own and develop relationships with senior officials  Support the Head of HR, People Business Partners and line managers in negotiations with Trade Unions on a wide range of company issues  Design and...

  • Learning and Development Specialist

    4 weeks ago

    Randburg, South Africa MECAD Systems Full time

    Learning and Development Specialist - 2024-03-22 - 2024-04-22 - Permanent - JHB000359 - Human Resources- Gauteng, Randburg - R 787662 - R 787663 Annually Cost To Company (Medical Aid + Provident Fund )- A well-established company based in Northriding, Gauteng is looking for a Learning and Development Specialist to join their team. **Requirements**: -...

  • Lead Generation/ Sales Trainer

    1 month ago

    Randburg, South Africa ICONAF Full time

    The Lead Generation/ Sales Trainer at IconAF is **responsible for,** the **Quality of Training**conducted at the branches and for the trainees’ performance during live dialling and incubation phase. - **Responsibilities & Duties** The responsibility of the Trainer is not exhaustive and may change from time to time as decided by Management. **People...

  • Lead Generation/ Sales Trainer

    1 month ago

    Randburg, South Africa IconAf Full time

    **JOB SUMMARY** The Lead Generation/ Sales Trainer at IconAF is **responsible for,** the **Quality of Training **conducted at the branches and for the trainees’ performance during live dialling and incubation phase. **Responsibilities & Duties** The responsibility of the Trainer is not exhaustive and may change from time to time as decided by...

  • Bfsi Marketing Manager

    1 month ago

    Randburg, South Africa iSON Xperiences Full time

    **BFSI Marketing Manager** Â **KEY RESPONSIBILITIES**: - Responsible for the overall execution and delivery of Marketing and Communications support for our Banking, Financial Services and Insurance (BFSI) solutions for iSON Xperiences and CSS Solutions. - Ensure BFSI marketing strategy alignment with the global iSON Xperiences brand strategy -...

  • Operations Manager

    1 month ago

    Randburg, South Africa Guardian Recruiting (Pty) Ltd Full time

    The Operations Manager is responsible for leading, supervising, coaching, and mentoring the overall operations within Corporate Training solutions, aligning with departmental objectives to establish excellent service standards and ensure compliance from the teamCompany Description:Our Client, a cutting-edge IT and HR training firm in Johannesburg, offers...