Head of Corporate Actuarial
Pretoria
Part of the senior management of the actuarial team and as such play a leadership role across the business. The predominant technical responsibilities will include monthly forecasting of business volumes and expected profitability, be responsible for regulatory reporting, reserve setting, reinsurance and forecasting related regulatory reporting.
• Report to the regulator regarding solvency and related matters
• Play a leading role in the analysis and preparation of internal and external reporting material
• Set technical reserves relating to internal management accounts, public disclosed accounts (IFRS 4 & 17) and regulatory reporting
• Own the technical disclosures where it is dependent on actuarial insight as required by IFRS17
• Own the determination of initial estimates of loss, specifically where they impact management accounts
• Build and maintain forecasting models to assist in the business planning, budgeting, capital management and ORSA scenarios in the business
• Control the placement of reinsurance for the entity. This includes broker relationship, panel selection, treaty structure and facultative placement
• Report and set mandates for the managing of investment portfolios
• Support and liaise with the Risk Management and Head of Actuarial Function teams
• Maintain and develop the necessary capital modelling capabilities and statistical models to support effective Risk, Solvency and Capital Assessments, including the assessment of the solvency needs.
• Good communication skills (written and verbal)
• Independent self-starter
• Good analytical and technical skills
• Ability to work accurately under pressure
• Ability to work well in a team and independently
• Applicable legislative and regulatory framework knowledge
• Strong knowledge of Solvency Assessment and Management (SAM) practices and principles
• Knowledge of International Financial Reporting Standards (IFRS) 4 & 17 concepts frameworks and methodologies including risk management principles
• Understand the financial services industry and environment as well as the technological environment to be able to shape the business strategy around solutions and technology
• Understand the key issues that drive business success and how they impact on the commercial viability of potential ventures and the profitability of the business
• A degree in Actuarial Science
• Good progress along obtaining Fellow of the Actuarial Society of South Africa (FASSA) or similar. Individuals with good progress in this direction will also be considered.
• 5 - 8 years' experience in an actuarial environment within the Short-term Insurance industry
• SQL skills would be an advantage m30.8m