QUALIFICATIONS:
• Minimum requirements - University graduate degree, either newly qualified actuary (FASSA/FIA/FFA) or 12 or more actuarial exams completed.
• Minimum of 3 to 6 years’ experience in a similar position in the short-term insurance industry.
• CERA qualification will be advantageous

Knowledge
• Experience and understanding of a variety actuarial reserving methodologies.
• Detailed understanding of Solvency Assessment and Management (SAM) or Solvency II
• Sound understanding of ERM principles and philosophy

Technical Skills
• Strong Computer literacy (especially MS Excel)
• Project Management
• Actuarial Reserving
• Capital Modelling
• Financial Analysis

Attributes/values
• Analytically minded, always seeking the most efficient solutions
• Ability to think strategically
• Excellent communication skills
• Excellent facilitation skills
• Able to organize and motivate others, who in many cases may be in a more senior position
• Ability to work with all levels of management and across business units and departments
• Have a strong presence and can interact effectively with Board, CEO and senior management
• Keen and effective team player
• Creative problem solving

KEY PERFORMANCE AREAS (DUTIES & RESPONSIBILITIES):

1. Operational Delivery
• Execution of valuation of technical provisions - Lead team to perform quarterly and annual valuations on an IFRS and regulatory basis, signing off on the valuation, and producing a report in line with professional guidance notes of the Actuarial Society of South Africa. - Make recommendations on changes needed for reserving policies, processes and procedures. - Ensure appropriate documentation is kept for internal needs as well as those of external stakeholders (external auditors, actuarial control function and regulators)

• Regulatory Capital Requirement Calculations - Lead team to perform quarterly and annual calculations of the company’s minimum and solvency capital requirements as per the regulatory requirements. - Ensure appropriate documentation is kept for internal needs as well as those of external stakeholders (external auditors, actuarial control function and regulators)

• Economic Capital Requirement Calculations - Lead team to perform quarterly and annual calculations of the company’s economic capital requirements. - Maintain and enhance the Economic Capital Model as required to ensure that all the company’s material financial risks are adequately quantified. - Ensure appropriate documentation is kept for internal needs as well as those of external stakeholders (external auditors, actuarial control function and regulators)

• Reporting - Assist the finance department with all regulatory reporting (quantitative and qualitative) on a quarterly and annual basis, including regulatory technical provisions and regulatory capital requirements. - Perform monthly risk reporting on technical provisions, capital requirements, key risk indicators.
• Own Risk and Solvency Assessment (ORSA) process: - Support the risk management department to set the company’s risk strategy, risk preferences and risk appetite - In partnership with the underwriting department, evaluate alternative reinsurance structures on an annual basis to ensure that the company’s reinsurance programme is optimal from a solvency and profitability perspective. - In partnership with the investment department, conduct an asset-liability matching exercise on an annual basis to ensure that the company’s investment strategy and strategic asset allocation is in line with the company’s risk strategy, risk appetite and liquidity needs and optimises capital requirements and investment return. - Assess the impact that the company’s strategy and corresponding financial projections will have on the company’s solvency over the business planning horizon (Risk Budget) - Together with the risk department, conduct stress testing on an annual basis to evaluate scenarios that could have a material impact on the solvency of the company. This would include identifying scenarios, determining assumptions and performing financial and capital projections. - Coordinate the collation of the ORSA Report as well as upkeep of the ORSA Record