time left to apply End Date: December 19, 2024 (3 days left to apply)job requisition id R-15970404Empowering Africa's tomorrow, together…one story at a time.With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.Job SummaryThis is a non-life insurance specific role within the Corporate Actuarial team. The candidate will manage a team of actuarial analysts supporting the Head: Corporate Actuarial with reserve calculations, IFRS 17 reporting, capital management and regulatory reporting.Job DescriptionReservingBuild processes and data extracts to feed into reserving calculations, including IFRS 17 calculationsHave a good understanding of the policy administration system and corresponding data flow into financialsMonitoring reserve development experience and collaborating with key stakeholders to ensure understanding of trends and impacts on the businessCommunicate results to key stakeholdersRegulatory ReportingOperate the SAM regulatory capital modelMaintain and further develop the Python code underlying the modelHave a good understanding of policy administration system and data flow into financialsCommunicate results to key stakeholdersContinuous improvement and automation of the various modelsOwn Risk and Solvency Management (ORSA)Operate the ORSA projection modelSet and monitor quantitative risk appetite metricsPerform stress and scenario testing as part of the Company's ORSA processesMaintain the ORSA model and identify areas of improvementCommunication of results to key stakeholdersPeople ResponsibilitiesManage a small team of actuarial analystsManage deliverables and timelines in own teamEducation and experience requiredA Degree in Actuarial Science (Honours degree would be advantageous)At least 5 years actuarial work experience within the non-life insurance industryNewly or nearly qualified actuary with good exam progression towards qualifying as a Fellow actuaryGood understanding of the SAM Financial Soundness Standards for Insurers (FSIs) and experience in performing capital calculationsExperience in non-life reserving techniquesExperience in IFRS 17 reporting would be advantageousExperience in extracting and transforming data and designing automated processesProgramming in SQL, Python or VBA would be advantageousKnowledge and skillsStrong analytical skills with the ability to take on complex problemsGood understanding of insurance policy administration and financial systemsComfortable adapting and responding to changeExcellent written and verbal communication skillsExcellent time management skills with the ability to prioritise deliverables and manage stakeholder expectationsHigh degree of motivation and initiativeEducationBachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.Absa Bank Limited reserves the right not to make an appointment to the post as advertised
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