Actuarial Manager

Boardroom Appointments; Sandton; On-site; ZAR 700,000 - 900,000; Full time

Job summary

A consulting firm in Sandton is seeking an experienced Actuarial Manager to lead the actuarial processes and manage compliance with regulatory standards. The role involves engaging with auditors, developing capital models, and providing insights for product development. Ideal candidates should have strong experience with Prophet software and a deep understanding of life insurer SCR components and relevant legislation.

Qualifications

• Minimum of 3 years' management experience.
• Strong understanding of SCR components per Prudential Standards.
• Knowledge of relevant legislation including the Insurance Act.

Responsibilities

• Provide analysis of results and engage with auditors.
• Establish processes for accurate reporting and risk management.
• Oversee automation of SAM capital modelling infrastructure.

Skills

Expert knowledge of Prophet software

Proficient in MS Office

Advanced understanding of discounted cash flow models

Strong Prophet software coding skills

Intermediate to advanced programming experience

Tools

Prophet

MS SQL

Job description

Actuarial Manager

Internal Process

Provide analysis of results, engage directly with auditors, and prepare internal and external capital reporting material.

Establish and implement consistent processes and controls across the business to ensure accurate reporting and effective risk management.

Take accountability for developing and maintaining Prophet technical provisions modelling and capital models for cell clients allocated to the team.

Vet accounting data, asset data, reinsurance data, and exposure data used for actuarial valuations.

Deliver quantitative projections for the annual ORSA on allocated cell clients.

Deliver annual, quarterly, and monthly SCR analysis of The Company Life and its cells, in line with Group practices and policies.

Develop financial insights into proposed product developments and reinsurance arrangements.

Oversee dividend review and sign-off processes.

Support business stakeholders with capital projections and plans for new business onboarding and sign-off.

Collaborate with internal and external stakeholders, identifying and resolving conflicting interests.

Drive change management initiatives in response to regulatory and technical developments.

Oversee continued automation of the SAM capital modelling infrastructure.

Client

Build and maintain strong relationships with clients and stakeholders.

Contribute to maintaining a competitive edge through external networking, benchmarking, and representation on industry forums.

Engage with key internal and external stakeholders to identify evolving client needs and recommend service alignment strategies.

People

Participate in the development and implementation of a broader people strategy specific to the actuarial job family.

Create a positive work climate and culture to minimise disruption and maximise employee productivity.

Foster a culture of best practice, continuous learning, improvement, and team cohesion.

Promote a learning and growth culture by encouraging open sharing of insights, trends, and lessons learned.

Identify employee growth and development needs and schedule relevant training and development interventions.

Finance

Contribute to the resolution of high-risk and problematic capital issues within your area of responsibility.

Provide input and feedback on financial policies, practices, and procedures, ensuring adherence to ethical and legal standards.

Develop and implement governance, compliance, and risk management policies to identify and manage exposure and liability.

Competencies Required

Minimum of 3 years' management experience.

Expert knowledge of Prophet software.

Proficient in Prophet, MS Office, and working knowledge of MS SQL.

Intermediate to advanced programming experience.

Advanced understanding of the SCR components of a life insurer, as per the Prudential Standards (cell captive experience is advantageous).

Knowledge of relevant legislation, including the Insurance Act, Prudential Standards, and IFRS 17.

Advanced understanding of discounted cash flow models, reserving methods, and liability valuation methods.

Strong skills in Prophet software coding and model development.