Senior Actuarial Manager: Non-Life Reserving & Capital | Midrand

The Recruitment Council; Midrand; On-site; ZAR 900 000 - 1 200 000; Full time

Job summary

A leading financial services provider in South Africa seeks an experienced Actuarial Manager to oversee reserving and regulatory capital management. The role requires managing a team and ensuring compliance with SAM and IFRS standards. Candidates must have a Bachelor of Science in Actuarial Science and over 5 years of actuarial experience, with a focus on short-term insurance. This influential position offers a chance to drive strategic decision-making in a dynamic environment.

Qualifications

• 5+ years of overall actuarial experience.
• 3+ years of experience specifically in Short-Term insurance.
• 3+ years in reserving, SAM, and IFRS reporting.
• 1+ years of resource management and planning experience.

Responsibilities

• Manage and oversee SAM calculations and reporting.
• Oversee end-to-end reserving processes.
• Drive IFRS 17 implementation and reporting.
• Present insights to senior management and stakeholders.
• Support Risk team in ERM framework development.
• Lead and mentor a team of actuarial analysts.

Skills

Modeling key metrics

Continuous improvement

Process automation

Education

Bachelor of Science in Actuarial Science

Tools

ResQ software

Job description

Join one of South Africa’s leading financial service providers and propel your career within a purpose-driven organisation. Our client is seeking a dynamic and experienced Actuarial Manager to lead their critical functions in Reserving and Regulatory Capital Management.

You will manage a team of Actuarial Analysts within the Non-Life Corporate Actuarial team, reporting directly to the Head of Corporate Actuarial. This is a strategic role responsible for driving high-quality actuarial solutions that support key business objectives.

Responsibilities

• Regulatory Capital (SAM): Manage and oversee both solo and group Solvency Assessment and Management (SAM) calculations and reporting, ensuring full compliance.
• Reserving: Oversee end-to-end reserving processes, including methodology development, setting assumptions, and engaging stakeholders on reserve adequacy.
• IFRS 17 Leadership: Drive IFRS 17 implementation and ongoing reporting, ensuring alignment with accounting and actuarial standards.
• Stakeholder Engagement: Present actuarial insights and recommendations to senior management, Board committees, and other stakeholders to inform strategic decision-making.
• Risk & Governance: Support the Risk team in developing and maintaining ERM frameworks, including ORSA, Risk Appetite, and Stress & Scenario testing.
• Team Development: Lead, mentor, and develop a team of actuarial analysts, fostering technical excellence, innovation, and accountability.

Education

• A Bachelor of Science in Actuarial Science is required.

Experience

• 5 or more years of overall actuarial experience is essential.
• A minimum of 3 years of actuarial experience specifically within a Short-Term insurance environment is essential.
• 3 or more years of experience in reserving, SAM, and IFRS reporting is essential.
• 1 or more years of experience managing resources and planning to deliver predetermined objectives is essential.

Technical Skills

• Experience with ResQ software is advantageous.

Core Competency

• A proven ability to model, monitor, and interpret key metrics while driving continuous improvement and process automation.