Reserving Actuary - 12 Month Contract

Faraday; Cape Town; On-site; ZAR 600,000 - 800,000; Full time

Job summary

A global reinsurance company in Cape Town is seeking a Reserving Actuary for a 12-month contract. The role involves supporting valuation processes, improving data preparation, and preparing regulatory reports. Applicants must be qualified actuaries with at least 2 years of experience and strong communication skills. Familiarity with actuarial software and knowledge of AASB17 standards is desired. This role notably collaborates with colleagues in the Australian time zone.

Qualifications

• Minimum 2 years of experience as an actuarial analyst, preferably in a valuation role.
• Knowledge of insurance and reinsurance industry standards.
• Ability to work independently and collaboratively.

Responsibilities

• Support statutory financial and capital reporting for valuation.
• Improve data preparation processes for actuarial models.
• Prepare regulatory and management reports.

Skills

Communication skills

Actuarial software proficiency

Collaboration

Microsoft Excel

R

SQL

Mo.Net

Prophet

GGY AXIS

Education

Qualified Actuary

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, Cape Town Branch (a subsidiary of General Reinsurance AG), is offering an opportunity for Reserving Actuary - 12 Month Contract in our Life Australia, UK, SA, Canada division.

Key Responsibilities

• Supporting the Australian Appointed Actuary and the valuation team with statutory financial and capital reporting requirements by performing key steps in the valuation process.
• Maintaining and improving data preparation processes for actuarial models, focusing on Open Claims reserve data.
• Managing and validating modelling data to ensure accuracy and integrity.
• Running and maintaining existing actuarial models to streamline legacy system usage.
• Preparing regulatory and management reports under various accounting and capital regimes, including cash flow projections.
• Updating best estimate assumptions and assessing impacts of proposed changes.
• Assisting with quarterly capital calculations and updating inputs.
• Monitoring results of individual client companies.
• Contributing to valuation projects and process improvements.

Requirements

• Availability to liaise and work with colleagues in Australian time zones.
• Flexibility during peak work periods at quarter and year-end.

Qualifications & Experience

The essential requirements include:

• Qualified Actuary.
• Minimum 2 years of experience as an actuarial analyst, preferably in a valuation role.
• Knowledge of the insurance and reinsurance industry, including AASB17 and reporting standards.
• Strong communication skills.
• Familiarity with actuarial software and coding.
• Ability to work independently and collaboratively.
• Commitment to quality and positive team culture.

Desired skills include proficiency in Microsoft Excel, R, SQL, and experience with Mo.Net, Prophet, or GGY AXIS.

Contact

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 to candidates from designated groups as per the Employment Equity Act and policy.