Actuarial Manager - Life

Guardrisk; Gauteng; On-site; ZAR 600,000 - 1,200,000; Full time

Job summary

Guardrisk is seeking an Actuarial Manager to lead its actuarial team, ensuring financial stability and compliance with SAM standards. This full-time position requires advanced knowledge in actuarial practices, management experience, and proficiency in Prophet software. The successful candidate will manage diverse responsibilities, including team leadership and external stakeholder engagement in a dynamic environment.

Qualifications

• 6 years' relevant work experience required.
• 3 years' management experience preferred.
• Knowledge of Insurance Act and Prudential Standards is essential.

Responsibilities

• Manage an actuarial team for analytical analysis and capital modelling.
• Drive change management through regulatory developments.
• Establish consistent processes for accurate reporting.

Skills

Advanced understanding of SCR components

Proficient in Prophet software

Intermediate to advanced programming

Analytical skills

Stakeholder management

Education

Fellow or Associate Actuary specialising in Life

Tools

Prophet software

MS Office

MS SQL

Job description

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Manage an actuarial team responsible for analytical analysis and capital modelling, to ensure financial stability of Guardrisk Life and its clients and lead modelling for the valuation of SAM compliant technical provisions.

Role Purpose

Manage an actuarial team responsible for analytical analysis and capital modelling, to ensure financial stability of Guardrisk Life and its clients and lead modelling for the valuation of SAM compliant technical provisions.

Requirements

• Fellow or Associate Actuary specialising in Life.
• At least 6 years' relevant work experience
• At least 3 years' management experience.
• Advanced understanding of the components of SCR of a Life insurer as prescribed by the Prudential Standards.
• Cell captive specific experience will be an advantage.
• Understanding of relevant legislation, i.e., Insurance Act, Prudential Standards and IFSR17.
• Advanced understanding of discounted cash flow models, including reserving methods and liability valuation methods; Prophet software coding and model development is an imperative.

Duties & Responsibilities

• Internal process
• Provide analysis of results, engaging directly with auditors and responsible for the preparation of internal and external capital reporting material.
• Establish and implement consistent processes and controls across the business, to ensure accurate reporting and risk management.
• Accountability for developing and maintaining Prophet technical provisions modelling and capital models on cell clients allocated to the team.
• Responsible for the team's vetting of accounting data, asset data, reinsurance data and exposure data used for actuarial valuations.
• Responsible for the delivery of the quantitative projections for the annual ORSA on cell clients allocated to the team.
• Deliver annual, quarterly and monthly SCR analysis of Guardrisk Life and its cells in line with Group practices and policies.
• Develop financial insights to 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 any conflicting interests.
• Drive change management through regulatory and technical developments.
• Oversee continued automation of the SAM capital modelling infrastructure.

Client

• Build and maintain relationships with clients and stakeholders.
• Contribute to sustaining a competitive edge through external networking and benchmarking and representation on related forums.
• Engage with key internal and external stakeholders to identify changing client needs and make recommendations to align service offering with client needs.

People

• Participate in development and implementation of broader people strategy specific to actuarial job family.
• Create a positive work climate and culture, minimise work disruption and maximise employee productivity.
• Develop and drive a culture that guides and directs best practice, fostering an environment of continuous learning, improvement and cohesiveness.
• Enable a learning and growth culture whereby information regarding successes, issues, trends and ideas are actively shared between team members.
• Identify employee growth and development needs and schedule interventions to enable ongoing development, training and personal growth.

Finance

• Contribute to the resolution of high risk and problematic capital issues in area of accountability and contribute to the development of policy.
• Implement and provide feedback on the effectiveness of financial policy, practice and procedures : preventing illegal, unethical or improper conduct.
• Develop and implement risk management, governance and compliance policies in own practice area, to identify and manage governance and risk exposure liability.

Competencies

• Expert knowledge in Prophet software and prophet model development.
• Expert knowledge MS Office; knowledge of MS SQL.
• Intermediate to advanced programming experience.

Seniority level

Not Applicable

Employment type

Full-time

Job function

Finance and Sales

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