Actuarial Manager: Life Insurance | Sandton at Sanlam Group

What will you do?

• The successful candidate will report to the SanlamAllianz Head of Actuarial Reporting for Life Insurance. 
• The role is responsible for managing the life insurance actuarial function across an assigned portfolio of businesses in the SanlamAllianz portfolio. Specifically, this means taking responsibility for the actuarial governance and delivery in line with the overall SanlamAllianz requirements and processes. 
• The role provides exposure to a wide range of actuarial disciplines, interaction with diverse stakeholders and cultures across various jurisdictions, businesses and a broad range of products within in the SanlamAllianz Life portfolio.

What will make you successful in this role?

• The key responsibilities set out below are primarily focused on the assigned portfolio of life insurance businesses, however, in the spirit of collaboration, the role will also be expected to make a broader contribution towards the continuous support and development of the SanlamAllianz Life actuarial function.

Management and Statutory Reporting

• Manage high quality, timeous and adequate actuarial reporting for management and statutory purposes based on overall SanlamAllianz requirements.  
• Specifically, manage the delivery of actuarial valuations, value of new business, embedded value (EV) and the analysis of EV earnings, capital requirements including SAM solvency.
• Manage the delivery of asset-liability management and the experience analyses.
• Manage and report on financial soundness, specifically capital requirements and return on capital.
• Manage the delivery of actuarial content into the actuarial and life reinsurance and underwriting committees as per the annual planner.
• Participation in and oversight of local actuarial committees.

Planning, budgeting and profitability management

• Manage the actuarial delivery of the planning and budgeting process in alignment with overall SanlamAllianz requirements.
• Monitoring and managing risk, with an emphasis on financial risks.

Actuarial Governance

• Ensure the integrity of actuarial reporting by maintaining a robust control environment.
• Oversee the local actuarial teams and ensure high performance and compliance with SanlamAllianz standards.
• Ensure that model governance requirements and standards are met.
• Maintain and improve the internal control environment within the actuarial processes.
• Oversee an effective internal and external audit execution for actuarial.
• Drive ongoing improvement of actuarial systems and processes.

Strategic input, direction and alignment

• Support the local entities through discovering and sharing insights, participating in budgeting processes, analysing key financial and performance results, and providing technical actuarial support.
• Stay abreast of market trends, relevant legislation and events in appropriate statutory bodies.

Stakeholder engagement and relationship management

• Build, develop and maximise effective relationships and manage expectations with all relevant stakeholders including in-country finance and actuarial teams.
• Ensure that SanlamAllianz Life operates in accordance with relevant laws, regulation and actuarial and accounting standards applicable to its operations across all its markets and respective shareholder standards.
• Contribute to the interpretation and understanding of, as well as related adequate business responses to proposed regulatory and other external changes.

People Leadership and Management

• Contribute towards the ongoing technical and personal development support to the actuaries and students in the broader SanlamAllianz Life actuarial function. 
• Contribute towards developing the talent and depth of the SanlamAllianz Life actuarial function.
• Provide leadership and direction to the relevant central and in-country stakeholders, teams and role players.
• Lead by example in demonstrating the organisation’s desired values and culture.

Qualification and Experience

• Fellow of the Actuarial Society of South Africa
• Minimum 5 years related experience in Financial Services
• Extensive experience in IFRS 9 and 17 valuations, EV, VNB and SAM bases
• A proven track record of high performance in managing self and a team
• Experience in managing complex environments and across a portfolio of life insurance companies

Knowledge and Skills

• A deep understanding of life insurance actuarial valuations, solvency, and products
• Knowledge of financial and actuarial IT systems, reporting, and problem-solving
• Expertise in financial risk management
• Strong leadership, influencing, and change management skills
• Excellent verbal and written communication abilities
• Proven business acumen
• The ability to inspire, motivate, and lead others effectively