(396) Lead Actuarial Analyst -RSD at South African Reserve Bank

Detailed description

The successful candidates will, among other things, be responsible for the following key performance areas:

• Lead, develop and provide specialist actuarial support with regard to technical provisions reviews.
• Lead, develop and provide specialist actuarial support with regard to further refinements of the solvency assessment and management (SAM) framework.
• Provide actuarial support concerning both solo and group entities including, but is not limited to, the following:
• scrutinising the financial soundness of life and non-life insurers;
• participation in on-site visits to insurers; and 
• the consideration of internal model approvals.
• Scrutinise and check the compliance of submissions by insurers.
• Assist in maintaining the statutory returns required by regulated entities. 
• Participate in projects initiated within the PA and industry forums.
• Develop and test systems and procedures for internal use.
• Participate in and execute projects initiated within industry forums.
• Transfer knowledge and skills to stakeholders, both inside and outside of the PA.

QUALIFICATIONS

To be considered for this position, candidates must:

• be a Fellow of the Actuarial Society of South Africa (FASSA); and 
• have at least 10 to 12 years’ experience that include at least three years of relevant post-qualification working experience in the insurance industry. 

Job-related attributes:

• good communication (verbal and written) skills;
• ability to perform under pressure without compromising quality;
• ability to work independently and within a team in a leadership role;
• good interpersonal skills; 
• proactive problem-solving skills;

Job-related skills and knowledge:

• experience in SAM;
• computer literacy (preferably including programming skills);
• ability to perform and understand technical provisions reserving;
• ability to understand complex financial models; and
• ability to deal professionally with internal and external clients.

Additional requirements include: 

• knowledge of the Insurance Act 18 of 2017; 
• knowledge of the Prudential Standards;
• knowledge of International Financial Reporting Standards (IFRS) 17; 
• knowledge of the risks that insurers take;
• ability to influence, build and maintain relationships; and
• reliable own transport as the position requires travel between the PA’s offices in Pretoria and the offices of supervised entities located elsewhere.