Job Title: Head - Corporate ActuarialWork Location: Parktown, JohannesburgEmployment Type: Permanent, On-siteDUTIES AND RESPONSIBILITIES: 1. 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 (ensure that assets are appropriate in terms of nature, amount and duration for liabilities that are held.Responsible for the end-to-end management of the reinsurance process, including but not limited to negotiating treaties, facilitating transfers, setting, and maintaining new strategies, mitigating risks, and managing reinsurance renewals annually.Prepare actuarial specific areas in all the Group regulatory returns.Monthly, Quarterly, Annual.ORSA and SAM reporting.2. Staff management and monthly reporting:Manage, supervise and training of staff.This includes both the actuarial teams working on the COID business as well as the Life Business and providing support to the AIT (IT) business.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 indications for the actuarial reporting function.Monthly report to FM on status of accounts and returns for EXCO submission.Effective reporting and assessment of problem areas.3. Regulatory compliance:Ensure that all work is performed in terms of required standard and regulation.Ensure that the position of the company is translated into standards by assessing gaps in methodology, assumptions and overall products and align standards to that of the organisation.Ensure that all company policies and procedures are adhered to.Ensure timely submission of various periodical reports, highlights of the previous months reports.QUALIFICATIONS, SKILLS, AND EXPERIENCE:1. Qualification Requirements:NQF Level 7: Bachelors degree Actuarial Science.Progress towards actuarial exams Qualified or nearly qualified.Actuarial Society /Institute of Actuaries.2. Minimum Experience:Minimum 8 years experience in an insurance regulatory environment.3. 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.
