Snr Actuary - Sandton Verfied

Salary Negotiable Sandton, Gauteng Sandton, Gauteng more than 14 days ago 29-10-2020 7:10:17 AM
24-12-2020 7:10:17 AM
Senior Actuary
Sandton, Johannesburg

Driving compliance with IFRS 17 in the Corporate Actuarial team.
Provide actuarial technical support and develop models to calculate IFRS 17 results.
Provide actuarial technical support and coach/mentor junior analysts within the Actuarial team.
Use statistical models to analyze
data and calculate the actuarial metrics.

Actuarial Modeling
Undertake strategic and tactical financial analysis, modeling, and evaluation to support business leaders in their decision making.
Develop, maintain and implement actuarial models and processes.
Models to be fit for purpose and able to estimate the reality accurately.
Models (and any form of estimation) to be clearly documented with the scope of use, definitions, data, and assumptions made.
Monitor models to ensure model performance and that they are communicated back to the business.
Assess business implications and make recommendations to ensure compliance with IFRS 17 (where the standard allows for discretion).

Stakeholder Engagement
Collaborate with internal (Actuarial) and external (Business) stakeholders to find out their needs/issues/concerns and reacting to these by leading and coordinating the development of stakeholder engagement plans to support the communication of business information and decisions.
Provide sound financial and technical advice to business.

Audit Compliance
Plan and manage the delivery of an audit program in a single discipline, ensuring that it addresses identified risk areas. Monitor the closeout of audit findings to ensure that agreed corrective actions are implemented and that risks are managed effectively; refer major issues or inadequate responses through the management line.
Maintain standards of integrity and professionalism as set out by the Actuarial Society of South Africa.
Ensure compliance with international accounting standards.

Model deployment and testing
Plan and deliver the group IFRS 17 project requirements and manage the team on a day-to-day basis to meet project timelines to ensure quality.
Analyze the results, to ensure the model is performing as expected and producing the results required.
Effective impact and sensitivity analysis to be performed before any deployment is done. Translate results from the impact/sensitivity analysis to Business, to provide insight on implications to profitability.
Maintain and develop documentation on model and clearly state what needs to be deployed and how testing will be done to ensure the deployment is successful.
Ensure monitoring processes are in place to measure the performance of the model for financial reporting.

Project Management
Manage major projects in line with overall project management strategy. Meet project deadlines of the group IFRS 17 project team.
Drive priorities for the project

Building Capability
Provide specialized training or coaching to others throughout the organization in area of expertise.
Enhance the capability of the team members and existing models to enhance technical capability. Mentoring and coaching of junior staff on a technical and professional front.

Insights and Reporting
Contribute to the design and creation of reporting strategies and templates.
Lead execution of complex reports, identifying and interpreting complex patterns and trends, and translating those insights into actionable recommendations.
Ensure status updates are communicated to the relevant stakeholders and build and translate the monitoring results so they can be understood by Business.
Provide an ecosystem where data and data analysis is nimble and easy to access by any team member.
Provide insights to inform the Business of future modelling endeavours.
Ensure reports are accurate and complete and regularly validated against credible data sources.
Review of results on a regular basis and ready to be presented to the Executives in business.

Data Collection & Analysis
Use data from a wide range of sources to analyze key themes and identify possible impacts on the business.
Extract data used for actuarial models.
Data/information to be reconciled against credible data sources (for example financials) to ensure the data is complete and accurate.
Ensure definitions and assumptions are aligned to the problem statement.

Improvement / Innovation
Identify shortcomings in existing business practices, then suggest and implement improvements while developing and delivering projects or a work stream within the organization's change management program. Involves working with guidance from senior colleagues.
Stay up to date with Business developments and develop solutions proactively within Business.
Continuous development/research of modelling techniques and feature engineering to improve model estimates.

Leadership and Direction
Communicate the local action plan; explain how this relates to the function's strategy and action plan and the broader organization's mission and vision; motivate people to achieve local business goals.

Performance Management
Respond to personal objectives and use performance management systems to improve personal performance.
Monitor the performance of the team; allocate work and review completion, ensure timeliness and quality; contribute to formal individual performance management and appraisal.

Qualifications, Experience, Knowledge and Skills

• Bachelors / Honours degree in Actuarial Science or similar (Essential)
• Specialized in Life technical subjects (Essential)
• Fellow Actuarial Society of South Africa (Advantageous)
• 5 or more years experience within the long term insurance industry (Essential)
• Prophet experience (Essential)
• Experience in IFRS 17 model building (Advantageous)
• Managerial Experience - 2 or more years experience of supervising and directing people and other resources to achieve specific end results within limited timeframes(Advantageous)

*SAQA Accredited Equivalent - It is the onus of the applicant to provide certified evidence that their qualification(s) meet the equivalent NQF level required for this role at time of application.