To provide support within the short term insurance division to the Senior Manager: Market and Risk in the overall execution of actuarial assurance and financial risk management, quantifying risk exposures and aggregation of risks across the TIH business.
Provide advice to senior managers, and other assurance providers on the financial soundness of the insurer (in terms of GOIs, FSIs and professional standards issued by PA) including the impact of any proposed dividend declarations.Risk Management and Analysis
Determine Risk Appetite metrics and implement risk management across the Actuarial departments.
Capital management and input into ALM processes.
Review the Own Risk and Solvency
Assessment (ORSA) report and support the business planning process.
Market Insights and Reporting
Monitor and report on the corporate insurance market within South Africa and when necessary also abroad for market comparative purposes and to inform
strategy.
Prepare regular competitor analysis reports for EXCO and the Board
Information and Business Advice
Evaluate and provide specialist advice on the actuarial soundness of new products and books of business.
Draft opinions on underwriting, reinsurance, asset & Liability management and Terms & conditions of insurance contracts.
Review the reserving and provisioning efforts
Review the SAM SCR calculations results
Provide Corporate Market Analysis within RSA and Internationally where appropriate
Compliance
Ensure compliance with the HAF scope under the GOI requirements from the PA, this includes updating relevant policies and aligning risk management
practices to the regulatory requirements, established under SAM
Internal Stakeholder Management
Engage with internal stakeholders within the actuarial community
Financial Management & Control
Review year-end and half year reserves
Quarterly and annual QRT’s
Economic capital model
ORSA capital projections; Reinsurance structures
Personal Capability Building
Maintain external professional accreditation where relevant to improve performance and fulfill personal potential. Maintain an in-depth understanding of technology, external regulation, and industry best practices through ongoing education
Technical Competencies:
Verbal Communication
Use clear and effective verbal communications skills without supervision and provides technical guidance when required on expressing ideas, requesting actions and formulating plans or policies
Comfortable with communicating with all levels within the organisation
Presenting to the senior management team, comfortable with presenting complex actuarial details to technical and non-technical audiences
Policy and Regulation
Works without supervision and provides technical guidance when required on
interpreting and applying knowledge of laws, regulations and policies in area of expertise
In a corporate actuarial of HAF support role have working knowledge of SAM
and/or Solvency II (Pillar 1 and Pillar 2/ORSA)
Numerical Skills
Uses an understanding of numerical concepts to perform mathematical operations such as report analysis without supervision and provides technical guidance when required
Experience in reviewing reserve calculations, regulatory capital, economic capital as well as other areas of Actuarial
Computer skills
Supports business processes without supervision by understanding and effectively using standard office equipment and standard software packages, while providing technical guidance as needed
Microsoft Office, ResQ software, capital modelling software (ReMetrica etc),
Coding experience advantageous (SQL, SaS, Python)
Data Collection and analysis
Works without supervision and provides technical guidance when required on analyzing data trends for use in reports to help guide decision making.
Review and Reporting
Works without supervision and provides technical guidance when required on reviewing and creating relevant, lucid and effective reports.
Assessment
Works without supervision and provides technical guidance when required on analyzing data from multiple sources to draw appropriate conclusions and make
suitable recommendations
Presentation skills
Communicates with other people without requiring supervision and provides technical guidance when required on speaking in a clear, concise and
compelling manner
Planning and Organizing
Works without supervision and provides technical guidance when required on planning, organizing, prioritizing and overseeing activities to efficiently meet business objectives.
General Education
Degree in Actuarial Science (Essential)
Making good progress with actuarial exams
Completed at least all CT exams and CA1 (Essential)
Experience:
General Experience
3 to 5 years experience in reviewing or calculation reserves and capital as well
as knowledge of Pricing (Essential)
Understanding and experience of general insurance (Essential)
Experience in regulatory capital, economic capital and capital adequacy
assessment (Advantageous)
Working knowledge of ORSA (Advantageous)
Disclaimers:
SAQA Accredited Equivalent* – It is the onus of the applicant to provide TIH and its subsidiaries with certified evidence that their qualification(s) meet the equivalent NQF level required for this role at time of application.
Financial Sector Conduct Authority (FSCA)# competency requirements: FAIS recognized qualifications / Regulatory Examinations / Class of Business Certification and / or CPD according to your DOFA (where applicable) – As a registered Financial Service Provider, we are mandated to ensure that all our representatives are and remain fit and proper at all times. By applying for this role, you consent to having your relevant qualification and or accreditation or confirm that you are working towards meeting the competency requirements. You further consent to the relevant information being verified.
Employment Equity
The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply. TIH is committed to an organisational culture that recognises, appreciates and values diversity & inclusion.
Applicants who have not received any correspondence from us within two weeks from the closing date can consider themselves unsuccessful.