Bestjobs South Africa

Don't miss any news or updates from BestJobs

Not now Allow

Corporate Actuary

City of Johannesburg, Gauteng 7 April

Workhouse

  • Description


  • Responsible for all corporate actuarial activities for short-term insurance:

    1. Developing the valuation basis for new product launches.
    2. Reviewing the previously set valuation basis for launched products and setting new basis assumptions to calculate technical provisions for the purposes of financial reporting on a monthly basis and for financial year-end reporting as well as implementing reserve monitoring.
    3. Setting of the technical provisions for the purposes of Asset-Liability Matching undertaken by treasury.
    4. Calculating the capital requirements on a quarterly and annual basis as required by the Prudential Authority and hence submitted for regulatory purposes.
    5. Undertaking capital requirement projections to ensure annual capital planning for the entity in conjunction with the Balance Sheet Management function, this includes capital planning on when capital injections will be required throughout the financial year. As well as capital projections that form part of the Own Risk and Solvency Assessment report.
    6. Calculating the insurance group-wide capital requirements in-line with the regulatory requirements and submitting the returns on a semi-annual basis.
    7. Calculating and projecting the actuarial sections of the financial budgets and re-forecasting on a monthly basis based on actuals to date and any revised expectations of future assumptions.
    8. Monitoring the liquidity position of short-term and ensuring that liquidity needs of the company are met on a monthly basis as well as optimising cashflow to ensure that excess cash is deployed optimally for expense settlement while avoiding any early realisation of investment instruments.
    9. Monitoring reinsurance catastrophe exposures and implied capital requirements based on current reinsurance programmes.
    10. Support of the product heads on actuarial matters related to product development and launches.
    11. Managing direct reports and providing knowledge support, guidance and serving as first line of review.
    12. Stakeholder management including the relevant internal committees as well as regulatory and auditor engagements.

    The role is also responsible for implementation of the following:

    1. The IFRS 17 accounting standards for Short-term and other which is a new accounting standard with an implementation date of 2023 and is critical for the insurance industry and business as a whole due to the impact on financial reporting purposes and the need to comply with these standards.

    The following skill set would ideally be suited:

    A Qualified or Nearly Qualified Actuary with ideally with 3 or more years of short-term corporate actuarial experience.
    Strong technical skills and strong verbal and written communication.
    Prior SAM experience and IFRS valuations would be advantageous.
    Analytical thinker with strong coding skills and use of ResQ software


  • Number of vacancies: 1
  • Requirements

  • Minumun level of education: Honours Degree / Post Graduate Certificate /N7
  • Years of experience: 4
  • Language(s): English
  • Driver's license: EB
  • Availability for travel: No
  • Availability for change of residence: No

Similar ads

Full Time - Permanent contract - R 75.000,00 monthly

Today, 03:17 AM

Full Time - Permanent contract - R 28.500,00 monthly

8 April

Full Time - Permanent contract - Negotiable

5 April

Ad summary

  • Corporate Actuary

  • Recruiter

    Workhouse

  • Province

    City of Johannesburg, Gauteng

  • Work type

    Full Time

  • Type of contract

    Permanent contract

  • Salary

    Negotiable

  • Apply now

Related search