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  • Posted: Jul 14, 2020
    Deadline: Not specified
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    Imagine a world where people live healthier, more enhanced and protected lives… A world in which each organisation is a powerful influencer and responsible corporate citizen, committed to being a force for social good. As a leading innovator in healthcare, wellness, insurance, investments, financial and life planning, Discovery works ceaselessly to...
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    Actuarial Analyst

    About Group Risk Management: 

    This position forms part of the Quants and Capital Modelling team in Group Risk Management. The jobholder will be studying towards qualifying as an actuary with strong technical skills. The jobholder will report to a Senior Actuary in the Quants and Capital Modelling Team.

    Responsibilities
    The jobholder’s responsibilities will be to support the deliverables of the team, which include:

    • Risk management function – To support in the execution of the risk management function for the South African insurance entities; to perform and review measurements of risk exposures against risk appetite statements; to identify, scope and perform stress and scenario tests for the purposes of risk understanding and management, statutory reporting and business planning; to contribute to the preparation and review of the Own Risk and Solvency Assessment (“ORSA”) process and reporting.
    • Corporate actuarial function – Building, reviewing and running various models to calculate and project the Group’s funding position, regulatory and economic solvency position, as well as risk appetite metrics. This role includes assisting with the calculation of the embedded value for Health and Vitality, performing the Group embedded value consolidation and preparing the published embedded value statement.
    • Actuarial function – To support in the execution of the actuarial function for the Group as a whole and the relevant South African insurance entities. This will include reviewing various calculations and drafting reports to support the Head of the Actuarial Function to fulfil their function.

    Key Performance Measures

    • Work is conducted on time and accurately, with minimum rework and hands on guidance.
    • Evidence of genuine thought leadership and implementation of improvements.
    • Support of the Head of the Risk Management Function in executing their duties as required.
    • Support of the Head of the Actuarial Function in executing their duties as required.
    • Contribute meaningfully to the development and ongoing operation of an appropriate ORSA process, incorporating technical actuarial models.
    • Development and maintenance of an appropriate Group capital and funding model that meets the needs of the CRO, CFO and Board.
    • Production of regular and ad hoc analyses and reports relating to the Group wide and business unit position against agreed limits and thresholds.
    • Contribution to production of the Group and solo entity ORSA Reports.

    Skills And Abilities
    The successful candidate must demonstrate the following skills and abilities:

    • Able to use technical and business knowledge to understand the risks inherent across all Discovery’s businesses.
    • Able to comprehend, challenge, analyse and develop complex actuarial models.
    • Able to interpret, rationalise and communicate the results of own work.
    • Ability to communicate efficiently and effectively with business at all levels, both verbally and in writing.
    • A conceptual understanding and a good technical grounding of the concepts of long term insurance business reserving, capital requirements and business projections.
    • Delivery focussed, practical and pragmatic where necessary. Sound judgement of material and immaterial issues in relation to own work. Delivers work required on time and to a high standard with minimal rework.
    • Good team player, able to work with other team members to deliver the objectives of the team.

    Qualifications And Experience

    • Actuarial student with at least 5 exemptions/passes.
    • Expert knowledge of Excel and some knowledge of an actuarial modelling tool (e.g. Prophet) would be beneficial.
    • Solid technical actuarial knowledge of actuarial modelling techniques and principles with long term insurance business experience preferable.
    • Some knowledge of relevant legislation, including SAM, Solvency II, IFRS, The Insurance Act, as well as ASSA’s Advisory Practice Notes and Standards of Actuarial Practice.



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    Method of Application

    Interested and qualified? Go to Discovery Limited on career2.successfactors.eu to apply

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