Actuarial Analyst at Nedbank

Job Purpose

To provide actuarial solutions to internal and external clients within the insurance industry; in line with Nedbank client value proposition. The role is based within Nedbank Insurance and offers exposure to both long and short term insurance.

Job Responsibilities

• Investigatig IFRS 17 reporting requirements for Nedbank Insurance's products.

• Drafting IFRS 17 for Nedbank Insurance.

• Developing and understanding the current valuation and reporting processes.

• Testing and implementing solutions to meet IFRS17 requirements.

• Interacting with the Nedbank Insurance Finance and Corporate Actuarial teams involved in the Nedbank Insurance IFRS 17 implementation.

• The candidate will work with various stakeholders from Finance and Corporate Actuarial to transition the business from IFRS 4 reporting to IFRS 17 reporting.

• Contribute to a culture conducive to the achievement of transformation goals by participating in Nedbank Culture building initiatives (e.g. staff surveys etc).

• Participate and support corporate responsibility initiatives for the achievement of business strategy (e.g. Green Strategy)

• Share knowledge and industry trends with team and stakeholders during formal and informal interaction.

• Obtain buy-in for developing new and/or enhanced processes (e.g. operational processes) that will improve the functioning of stakeholders' businesses by highlighting benefits in support of the implementation of recommendations.

People Specification

Essential Qualifications - NQF Level

• Advanced Diplomas/National 1st Degrees

Preferred Qualification

• BSc (Actuarial Science)

• BSc (Hons) Actuarial Science

• MSc (Actuarial Science)

Essential Certifications

Preferred Certifications

Type of Exposure

• Comparing two or more sets of information Working with a group to identify alternative solutions to a problem

• Managing conflict situations

• Sharing information in different ways to increase clients understanding

• Communicating internally and external

• Capturing data

• Checking accuracy of reports and records.

• Drafting reports

• Managing customer expectations

• Interacting with diverse people

• Working in a fast-paced environment

• Working in a team

• Working with spreadsheets

Minimum Experience Level

• 1 -3 years in the Actuarial field.

• Valuations experience (short-term insurance and/or long-term insurance) will be an advantage.

• IFRS 17 knowledge will be an advantage.

• SAM, SVM, IFRS or EV reporting

• Prophet, DCS, ResQ or R experience will be an advantage.

• We are looking for an actuarial student who can engage with key IFRS 17 issues under agreed deadlines.

Technical / Professional Knowledge

• Administrative procedures and systems

• Banking knowledge

• Business principles

• Business terms and definitions

• Data analysis

• Microsoft Office

• Relevant software and systems knowledge

• Business writing skills

• Governance, risk and controls

Behavioural Competencies

• Adaptability

• Applied Learning

• Communication

• Collaborating

• Innovation

• Work Standards