Discovery's core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.
About Discovery Insure Discovery Insure is committed to creating a nation of great drivers and offering market-leading insurance coverage through our innovative Shared-value Insurance model. Discovery Insure is South Africa's fastest growing short-term insurance company with comprehensive products that provide protection against current and emerging risks facing clients in the motor and home sectors. Vitality Drive, an internationally-recognised and award-winning programme, is a key differentiator in the market that incentivises and rewards clients for driving well. The Vitality Drive programme has been scaled to local and international markets which now include Europe and the Middle East. The company employs over 1 000 people who are committed to putting our customers and financial advisers first by providing unique and innovative solutions and cover.
Key Purpose Lead the strategic development of actuarial reserving processes and methodologies, leveraging advanced analytics to drive informed decision-making and support business development. Foster innovation and collaboration across teams, shaping the future of the reserving function in a dynamic, growth-oriented environment.
Areas of responsibility may include but are not limited to Core Corporate Actuarial function Lead the development, enhancement and implementation of robust reserving processes and methodologies using actuarial and advanced modelling techniques.Monitor experience and assess reserve adequacy, making enhancements as necessary based on emerging data and trends.Use data analytics to analyze historical experience to assist Senior Management with strategic decision-making processes.Stay updated with and ensure compliance to the relevant regulatory requirements and standards (IFRS 17, SAM, APNs etc.)Leadership and Innovation Define and articulate a strategic vision for the future development of the reserving function, incorporating advancements in technology, analytics, and regulatory requirements.Lead initiatives to streamline processes and enhance the scalability of reserving methodologies, ensuring readiness for business growth and expansion into new markets.Champion innovation and collaboration within the actuarial team, fostering a culture of continuous improvement and knowledge sharing.Stakeholder Engagement Collaborate with underwriting, finance, claims and pricing teams to optimize the reserving process and provide feedback into strategic decision-making processes.Manage deliverables and relationships with external audit, Head of Actuarial Function, Group Risk and the Prudential Authority.Presentations to the Actuarial Committee and Senior Management on model enhancements and financial results.Skills and Knowledge Proficiency in MS Office (Excel, PowerPoint and Word)Actuarial reserving and modelling – Advanced levelProgramming skills – R or Python (advantageous)IFRS 17SAM Financial Soundness Standards (advantageous)Education and Experience Education: MatricFellow of the Actuarial Society of South Africa (FASSA)6 years proven experience in a Short-Term Insurance organizationEMPLOYMENT EQUITY
The Company's approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.
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