Head – Actuarial Modelling and Technology

Outsized; Johannesburg; On-site; ZAR 1,800,000 - 3,200,000; Full time

Job summary

Rand Mutual Assurance seeks a senior leader to head Actuarial Modelling and Technology in Johannesburg. You will establish a centre of excellence, standardise modelling, govern processes, and drive innovation across pricing, reserving, IFRS 17, and financial reporting.

The role combines actuarial expertise with technology leadership, directing teams and engaging with executives to improve decision-making and governance frameworks.

Qualifications

• Qualified actuary with leadership experience and governance knowledge.
• Experience leading modelling, pricing, reserving and reporting teams.
• Strong stakeholder management and executive communication skills.

Responsibilities

• Develop and lead enterprise actuarial modelling strategy and governance.
• Standardise modelling methodologies, validation, and QA processes.
• Lead model development across pricing, reserving, valuations, and IFRS 17.
• Drive analytics, ML, and AI capabilities in actuarial modelling.
• Oversee modern modelling platforms and cloud-based solutions.
• Mentor and build a high-performing modelling team.

Skills

Leadership

Stakeholder mgmt

Data governance

Predictive analytics

Machine learning

Analytics

Education

Qualified Actuary (FASSA/FIA/FSA/FCAS)

Tools

AWS

Azure

Google Cloud Platform

Job description

Head - Actuarial Modelling and Technology

Experience Mid Level (6-10 years)

Duration 52 Months

Rand Mutual Assurance

Hybrid

Johannesburg South, South Africa

Johannesburg, South Africa

Required Skills IFRS 17 Product Development Cloud Computing AWS Predictive Analytics Software Data Governance Data Visualization

Project Overview

Our client is seeking an experienced Head of Actuarial Modelling and Technology to establish and lead a centre of excellence for actuarial modelling across the organisation. The successful consultant will be responsible for transforming the organisation's modelling capability by implementing standardised modelling methodologies, strengthening governance, modernising technology, and driving innovation across actuarial, pricing, risk, and financial reporting functions.

This strategic leadership role combines actuarial expertise with technology and transformation leadership. Working closely with executive leadership, data teams, technology functions, and business stakeholders, the consultant will lead the development of enterprise actuarial models, implement modern modelling platforms, and introduce advanced analytics, machine learning, and automation to improve business decision-making.

The ideal consultant will be a qualified actuary with extensive leadership experience across actuarial modelling, technology transformation, and regulatory environments. They will have a proven track record of building high-performing teams, implementing enterprise modelling frameworks, and driving innovation within complex insurance organisations.

Key Activities

• Develop and implement an enterprise-wide actuarial modelling strategy and governance framework.
• Standardise modelling methodologies, documentation, validation, and quality assurance processes.
• Lead model development across pricing, reserving, valuations, capital modelling, IFRS 17, reinsurance, underwriting, and experience investigations.
• Develop strategic business case models to support new products, investments, and organisational initiatives.
• Drive predictive analytics, machine learning, and AI capabilities within actuarial modelling.
• Evaluate and implement modern actuarial technology platforms and cloud-based modelling solutions.
• Lead the migration of legacy Excel models to scalable, enterprise-grade platforms.
• Define data requirements and collaborate with data teams to improve data quality and governance.
• Develop dashboards and reporting capabilities to communicate model outputs and business insights.
• Present modelling outcomes and recommendations to executive leadership, Boards, and regulators.
• Build, mentor, and lead a high-performing actuarial modelling team.
• Chair actuarial modelling and technology governance forums.
• Ensure compliance with regulatory frameworks including IFRS 17, SAM, and internal governance requirements.
• Drive continuous improvement, innovation, and best practice across actuarial modelling and technology.

Your Background

Essential

• Qualified Actuary (FASSA, FIA, FSA, FCAS, or equivalent).
• Minimum 9 years' actuarial experience with at least 5 years in a senior leadership role.
• Extensive experience developing actuarial models across pricing, reserving, valuations, capital modelling, and financial reporting.
• Proven experience leading actuarial teams and developing technical capability.
• Strong knowledge of actuarial model governance, validation, and regulatory compliance.
• Experience leading technology transformation and modernisation initiatives.
• Experience implementing enterprise modelling platforms and analytical solutions.
• Strong stakeholder management and executive communication skills.
• Experience with predictive analytics, machine learning, and advanced statistical modelling.
• Strong strategic thinking, leadership, and organisational capability.

Desirable

• Deep knowledge of IFRS 17, SAM, and insurance regulatory frameworks.
• Master's degree in Actuarial Science, Statistics, Mathematics, Data Science, or a related discipline.
• Experience across multiple insurance sectors, including life, general insurance, or health.
• Experience with cloud platforms such as Microsoft Azure, AWS, or Google Cloud Platform.
• Experience within InsurTech or digital transformation programmes.
• Published actuarial research or recognised thought leadership.
• Experience implementing AI-enabled actuarial modelling capabilities.