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