Actuarial and Insurance Solutions: Opportunities from Analyst to Manager

Deloitte Africa; Midrand; On-site; ZAR 400 000 - 600 000; Full time

Job summary

A leading consulting firm in Midrand is hiring Actuarial Analysts to support the insurance industry. Candidates should have at least 2 years of experience and an actuarial science degree. The role involves various responsibilities like capital modelling and supporting audits. Join a dynamic team dedicated to delivering impactful consulting services in the financial sector.

Benefits

Dynamic work culture

Professional development opportunities

Supportive work environment

Qualifications

• Actuarial science degree with strong preference for Honours.
• Partly qualified actuaries making good progress through exams.
• Minimum of 2 years' working experience in insurance industry.

Responsibilities

• Reserving and capital modelling.
• IFRS 17 and regulatory projects.
• Model development and validation work.

Skills

Analytical thinking

Communication skills

Proficiency in Python

Knowledge of IFRS 17

Education

Actuarial science degree

Honours degree

Fully qualified Actuaries

Tools

Python

Job description

Overview

At Deloitte, our Purpose is to make an impact that matters for our clients, our people, and society. This is the lens for which our global strategy is set. It unites Deloitte professionals across geographies, businesses, and skills. It makes us better at what we do and how we do it. It enables us to deliver on our promises to stakeholders, while creating the lasting impact we seek.

Harnessing the talent of 450,000+ people located across more than 150 countries and territories, our size and scale puts us in a unique position to help change the world for the better—by bringing together the services we provide, the societal investments we make, and the collaborations we advance through our ecosystems.

Deloitte offers career opportunities across Audit & Assurance (A&A), Tax & Legal (T&L) and our Consulting services business, which is made up of Strategy, Risk & Transactions Advisory (SR&T) and Technology & Transformation (T&T).

Are you ready to apply your knowledge and background to exciting new challenges? From learning to leadership, this is your chance to take your career to the next level.

About the Division

Deloitte’s Actuarial & Insurance Solutions (AIS) practice is a multi-disciplinary group with a primary focus on the insurance and financial services industry. Our AIS practice provides comprehensive actuarial, modelling, modernisation, and transformation services for Life and General insurance companies, reinsurance companies, pension plans, captives, and other organisations. AIS is the largest actuarial practice in Africa and consists of approximately 150 actuarial professionals, with more than 50 qualified actuaries.

Deloitte AIS provide Head of Actuarial Function (“HAF”) and Statutory Actuary services to over 40 insurers in Africa. In a typical year, AIS provide Audit, Assurance and Advisory services to 75% of the South African insurance industry.

AIS also provide actuarial consulting services to international clients, through our long-established relationships with other Deloitte member firms (for example, the UK, US, Ireland and Australia, amongst others). We work closely with colleagues in other countries to provide a wide range of actuarial services to a variety of leading UK and multinational insurers.

A role within Deloitte AIS provides opportunities to deliver actuarial work in a range of capacities from external audit support, to HAF, transformation, first line, and emerging areas of work and wider fields. Our practice has unparalleled exposure to the local, African and international insurance market.

What impact will you make?

Every day, your work will make an impact that matters, while you thrive in a dynamic culture of inclusion, collaboration, and high performance. As the undisputed leader in professional services, Deloitte is where you’ll find unrivalled opportunities to succeed and realize your full potential.

We are looking for experienced Actuarial Analysts with at least 2 years’ Life or General Insurance experience, to experienced Qualified Actuaries (Managers) with an established track record of leading and managing work.

Successful candidates will have an opportunity to develop a deep understanding of technical issues and leadership skills by delivering on a wide variety of projects.

Responsibilities include but are not limited to:

• Reserving, and capital modelling
• IFRS 17, SAM/Solvency II and other regulatory projects
• Large-scale projects to transform insurer’s financial, actuarial, and reporting processes
• Actuarial specialist work on external audits of a wide range of insurers
• Due Diligence and support for a variety of insurer Corporate Transactions
• Model development, migration and validation work
• Assessment and refinement of insurers’ internal processes and systems
• Projects utilising a suite of AI tools and Python modelling

Qualifications

Minimum Qualifications

Analyst

• An actuarial science degree with a strong preference for candidates who have completed an Honours degree.
• Partly qualified actuaries showing good progress through the actuarial exams.

Manager

• Fully qualified Actuaries
• Fellow Member of the Actuarial Society of South Africa or equivalent

Minimum Experience

Analyst

• Minimum of 2 years’ working experience
• Experience in the South African (or equivalent) insurance industry
• Actuarial valuation experience, including reserving, capital and solvency calculations, and reinsurance
• Proven ability to apply your knowledge in practical and commercial situations
• Experience in IFRS 17
• Experience with Python or other programming languages
• Awareness and understanding of actuarial and technology trends in global insurance markets

Assistant Manager & Manager

• We also have Assistant Manager and Manager roles for partly qualified and qualified candidates. Additional requirements for these more senior roles: Minimum of 4 years’ working experience
• Track record of taking ownership of deliverables and managing small teams
• Preference for candidates with experience leading components of actuarial and finance transformation projects

What are we looking for

• A proactive mindset
• Ability to take on projects (which may be new and unfamiliar) and delight our clients
• Desire to grow into a trusted adviser to our clients
• Strong communication skills (verbal and written)
• Ability to work in multi-disciplinary environment
• Proven ability in the Insurance industry
• Attention to detail and quality focus

Behavioural Competencies

• Exceptional communication skills, both written and verbal with all levels of staff & leadership
• Strong interpersonal and relationship-building skills
• Excellent mentorship and coaching ability with desire to develop self and others
• Strong client delivery focus
• Highly adaptable, managing change and ambiguity with ease
• Focus on quality and risk
• Excellent problem-solving ability
• Exceptional business acumen

Additional Information

Note: The list of tasks / duties and responsibilities contained in this document is not necessarily exhaustive. Deloitte may ask the employee to carry out additional duties or responsibilities, which may fall reasonably within the ambit of the role profile, depending on operational requirements.

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