Internal Model Validation and Risk Management ActuaryCape Town, Western Cape, South Africa
An exciting opportunity exists for an Internal Model Validation and Risk Management Actuary at Santam. This position will be based at the Santam Head Office in Bellville and will report to the Head of the Internal Model Validation function.
The role will cover all aspects of model validation, from quantitative analyses to preparing reports for the Santam Risk Committee. A significant part of the role will also include providing actuarial support to Santam's Group Enterprise Risk Management (ERM) function, particularly in the areas of underwriting and reinsurance.
The role will provide the successful candidate the opportunity to gain exposure to all actuarial and risk aspects across the Santam Group and will provide an in-depth understanding of Santam's approved internal capital model.
What will make you successful in this role?Run quarterly validation tests to ensure that the internal models' data, assumptions, methodologies, and implementation remain appropriate.Review the adequacy and effectiveness of all internal model key controls.Analyse the performance of the internal model and identify reasons for underperformance.Provide support to ERM focusing on identifying, assessing, and managing underwriting and reinsurance risk across the Santam Group.Perform risk deep dives supported by quantitative analyses when required.Qualification and ExperienceNearly/Newly Qualified actuary.3 – 5 years' actuarial experience.Short-term experience is valuable but not essential.SkillsStrong computer skills and proficient in MS Office (Excel, Access, VBA).Programming skills in Python would be an advantage.Strong communication and English writing skills.Excellent relationship building skills.Knowledge of the SAM framework.Able to challenge management and propose own views.Core CompetenciesCultivates innovation - Contributing through othersCustomer focus - Contributing through othersDrives results - Contributing through othersCollaborates - Contributing through othersBeing resilient - Contributing through othersAbout The CompanySantam is the market leader in the general insurance industry in Southern Africa. We are a large, diversified, expanding and transforming company and whilst based in South Africa, we are rapidly moving into a number of emerging markets, both in Africa and Asia.
Our success is rooted in our passion for our clients and everything we do is centered on our delivery of Insurance Good and Proper. We're about people. People drive our business so it follows that we want to recruit the best people possible whether they work for us permanently or for a short time as temporary employees.
At Santam, we are committed to transformation and embracing diversity. This commitment is what drives us to achieve a diverse workplace with employment equity as a key goal to create an inclusive workforce, representative of the demographics of our society. In achieving our employment equity goals, we give preference to applicants from the designated groups in alignment with the Divisions Employment Equity targets.
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