Reserving Actuarial Associate

Faraday; Cape Town; On-site; ZAR 300 000 - 400 000; Full time

Job summary

A global reinsurance company located in Cape Town is looking for a Reserving Actuarial Associate with a degree in Actuarial Science and at least 3 years of experience. Responsibilities include financial reporting, regulatory compliance, and data analysis. Candidates should possess strong problem-solving and communication skills, proficiency in actuarial modeling tools, and experience in working with large datasets. This role involves participating in international projects and assisting with system design developments.

Qualifications

• Minimum of 3 years’ experience in actuarial roles.
• Excellent IT skills with large datasets.
• Knowledge of SAM, Solvency II, and IFRS17 is advantageous.

Responsibilities

• Assist with financial reporting on a US GAAP and IFRS basis.
• Engage with auditors after the year end.
• Analyse valuation data for insights into the business.

Skills

Strong problem-solving skills

Actuarial modelling

Data analysis

Strong interpersonal skills

Excellent verbal and written communication skills

Education

Degree in Actuarial Science

Tools

MS Office

SQL Server

R

Python

GGY AXIS

Job description

Shape Your Future With Us

General Re Corporation, a subsidiary of Berkshire Hathaway Inc., is a holding company for global reinsurance and related operations, with more than 2,000 employees worldwide. It owns General Reinsurance Corporation and General Reinsurance AG, which conducts business as Gen Re.

Gen Re delivers reinsurance solutions to the Life/Health and Property/Casualty insurance industries. Represented in all major reinsurance markets through a network of 37 offices, we have earned superior financial strength ratings from each of the major rating agencies. We value diversity, equality and inclusion and promote a culture that supports professional and personal growth.

General Reinsurance, South Africa Branch (a subsidiary of General Reinsurance AG) is offering an opportunity for Reserving Actuarial Associate in our Life Australia, UK, SA, Canada division.

Key Responsibilities

Gen Re is looking for a Actuary with three years’ experience to join the South African and Australian Valuation teams.

• Assist with financial reporting on a US GAAP and IFRS basis
• Assist with regulatory reporting for SAM and Solvency II
• Engaging with internal and external auditors after the year end
• Assist with the any further system design developments required from a US GAAP LDTI and IFRS 17 perspective
• Analyse valuation data and results to gain a deeper understanding and insight into the business
• Development and maintenance of tools to analyse actuarial data to enhance management and regulatory reporting
• Monitoring and provision of management information
• Participation in international projects (for example US GAAP LDTI /IFRS 17 / Admin Data Systems projects)
• Automation of models and business processes
• Analyse and assess the valuation data for the purpose of experience studies or assumption setting.

Qualifications & Experience

• Degree in Actuarial Science
• Minimum of 3 years’ experience
• Excellent IT skills (MS Office, SQL Server, working with large datasets)
• Strong problem-solving skills, particularly when in new situations or dealing with clients
• Excellent skills in actuarial modelling, data, and statistical analysis
• Strong statistical software skills (Knowledge of R, Python and GGY AXIS will be advantageous)
• Excellent numerical and analytical skills
• Consistent pursuit of excellence in execution and delivery
• Self-motivated with a flexible attitude and enthusiasm for the role
• Excellent verbal and written communication skills
• Ability to work with minimum supervision
• Strong interpersonal skills with an ability to work effectively as part of a team, deal with people at all levels and in all areas of the business
• Able to work under pressure in meeting internal and external deadlines
• Confident when communicating with more senior team members/colleagues throughout the organisation
• Knowledge of SAM, Solvency II and IFRS17 will be advantageous

Human Resources

Our Address

General Reinsurance Africa Ltd.
2nd Floor, Waterway House North, 3 Dock Road V&A Waterfront, Cape Town, 8001 (South Africa)

Preference will be given, but not limited to, candidates from designated groups in terms of the Employment Equity Act and our employment equity policy.