Senior actuarial analyst - Sandton Verfied

Salary Negotiable Sandton, Gauteng Sandton, Gauteng more than 14 days ago 16-07-2017 3:34:04 PM
10-09-2017 3:34:04 PM
Parktown, Gauteng

Education and Experience Required
•· NQF Level 6: B Degree, B.Com or B.Sc. degree with specialisation in Actuarial or

Statistical science
•· Completion of all Actuarial CT (or equivalently A100 and A200 level) exams.

Completion of CA1 (A301 equivalently) and/or an ST exam (F100 equivalently) is

recommended.
•· 2 years Capital Modelling and Reserving experience.
•· Computer literacy: Data manipulation (SQL/SAS), Excel (VBA) and programming ability

(level: advanced)
•· Knowledge of general insurance actuarial methodologies and regulatory environment

Support the Head of the Capital and Balance Sheet Management by taking the lead on projects within the team, reviewing work done by junior members and liaising with stakeholders and internal clients. Key projects would include reserving, capital modelling, risk appetite setting, regulatory reporting, reinsurance optimisation and ensuring that documentation and key controls are in place. The role encompasses all Non-life insurance entities within .

General actuarial analysis and reviewing of work done by junior team

members
•· Review, guide and supervise work done by actuarial students.
•· Check data, results and reports for reasonableness, interpret the results and investigate
•· Assess the impact of models on the business and identify appropriate actions.
•· Implement innovative solutions to problems and continuously look to improve the

quality and optimise the efficiency of work done.
•· Ensuring that all documentation for the team is complete and of a high standard.

Risk Appetite and Investment Strategy setting
•· Set, monitor and perform necessary calculations to identify and manage risk appetite,

thresholds and key risk indicators for all non-life Africa entities. This also

includes the work necessary to monitor the insured exposures by geographical local,

investment and reinsurance counterparties.
•· Investigate solutions to ensure that the business remains within its risk appetite.
•· Monitor adherence to investment policy and mandates. Review investment reports in

terms of investment performance against benchmarks. Investigate new investment

strategies.
•· Regularly monitor solvency position on a regulatory and economic capital basis.

Claims, premium and other technical reserve calculations
•· Completing monthly, quarterly and annual reserving work for all non-life entities in

Excel and ResQ. This will include the calculation of all claims and premium reserves,

earnings and claims patterns and monitoring the appropriateness and subsequent

development of reserves recommended.
•· Ensure that the data is fit for purpose, interpret the results and investigate new and

improved methods of reserving.
•· Ensuring that all the requirements of WIMI Risk, external auditors and appointed

actuary are met.

Solvency Assessment and Management (SAM) and other regulatory reporting
•· Completing all quarterly, annual and ad-hoc regulatory reporting primarily for the

South African non-life licenses. This will involve the calculation of Basic Own Funds,

Regulatory Solvency Capital Requirements, Minimum Capital Requirements and

Technical Provisions.
•· Ensuring that all regulatory requirements are met and that new developments are

appropriately accounted for.
•· Involvement in SAM Pillar 2 and ORSA processes.
•· Continuous optimisation of current processes.

Capital Modelling and reinsurance optimisation
•· Developing and maintaining economic capital models for all non-life entities.
•· Proficiency in Remetrica.
•· Performing annual model updates, ensuring that the data is fit for purpose and

performing validation on the model.
•· Perform annual reinsurance optimisation exercises and investigate possible new

reinsurance options
•· Investigate model improvements and create new innovative modelling solutions.

Liaising with internal clients and third parties
•· Obtaining the necessary information and data needed to perform calculations from

internal clients across the non-life entities in Africa.
•· Liaising with WIMI Risk, the external auditor and the statutory actuary.
•· Communicating results to internal clients.

Drive and implement new processes as needed
•· Drive the implementation of new processes for new requirements and/or improve the efficiency of current processes.

Recruiter: Rooftop