HEAD OF CORPORATE ACTUARIALReference: JHB001850-Chris-1We are recruiting for the position of a HEAD OF CORPORATE ACTUARIAL to join a leading insurance company that specializes in offering insurance products for employees across many industries, assisting with COID cover, occupational injuries cover, funeral cover, and more.Reporting to the Executive Actuary, the Head of Corporate Actuarial will be responsible for overseeing a team of actuarial professionals that will ensure all life and non-life actuarial valuations are prepared timeously and accurately.The incumbent will also oversee the development and maintenance of the actuarial valuation system and data integrity. An integral part of the role will be supporting the business with insights and producing reports for the executive and various committees.Duties & ResponsibilitiesJob Title: Head - Corporate ActuarialWork Location: Parktown, JohannesburgEmployment Type: Permanent, On-siteDUTIES AND RESPONSIBILITIES:Management of the actuarial function:Oversee both the actuarial teams working on the COID business as well as the Life Business and providing support to the AIT (IT) business.Oversee the preparation of and review monthly valuation data.Oversee the application of ORSA methodology and SAM processes and procedures.Maintain the integrity of actuarial and valuation data.Timeously respond to actuarial queries from the regulators (FSB/SARB/SARS).Plan and budget actuarial matters and maintain a timetable of submission (financial projections).Inform management of actuarial specific regulatory issues (solvency and capital requirements) for the Group.Ensure that a summary of returns and any actuarial issues are maintained to report to management (EXCO/BOARD/AUDIT etc).Prepare and present actuarial matters to the Board and act as an advisor to the Board and its sub-committees.Develop pricing models, ensure validity of assumptions and sufficiency of pricing (COID and Non-COID products).Set premium rates.Develop and maintain Actuarial systems.Monitor experience (reserving and pricing).Responsible for capital and solvency management and investment management through liability matching.Responsible for the end-to-end management of the reinsurance process.Prepare actuarial specific areas in all the Group regulatory returns.Staff management and monthly reporting:Manage, supervise, and train staff.Manage relationships within the company and stakeholders e.g. Statutory Actuary.Lead and motivate a team to achieve targets.Monthly reporting of the Key Performance indicators for the actuarial reporting function.Monthly report to FM on the status of accounts and returns for EXCO submission.Effective reporting and assessment of problem areas.Regulatory compliance:Ensure that all work is performed in terms of required standards and regulations.Ensure timely submission of various periodical reports.QUALIFICATIONS, SKILLS, AND EXPERIENCE:Qualification Requirements:NQF Level 7: Bachelor's degree – Actuarial Science.Progress towards actuarial exams – Qualified or nearly qualified.Actuarial Society / Institute of Actuaries.Minimum Experience:Minimum 8 years' experience in an insurance regulatory environment.Knowledge and Skills Required:Advanced Excel.Insurance knowledge is essential.Reporting experience.Valuation experience.Life and non-life experience.Knowledge of the Insurance Acts (long and short term) including SAM, IFRS17.Actuarial guidelines.Experience leading/managing a team.PACKAGE & REMUNERATION:Will be agreed based on qualifications, applicable experience, and previous earnings.
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