Actuarial Specialist (Cape Town CBD) at BDO South Africa

Primary purpose of this role:

• BDO Cape Town / Johannesburg is recruiting for an energetic ambitious senior actuarial analyst or consulting actuary to support and drive the provision of actuarial audit support to our Audit Teams in the discharge of their professional audit duties as well as to help us grow our advisory business.
• This is an entrepreneurial opportunity to become part of a growing team and participate in / lead the expansion of the actuarial offering.  Future growth and development opportunities are highly attractive in tandem with the lofty ambitions for the unit.
• The primary focus for the initial phase has been delivery of actuarial audit support on a portfolio of existing clients including several blue-chip names. We are now embarking on the next phase to grow the advisory offering.  Depending on the candidate’s interests and experience, the role will offer opportunity to broaden expertise through a range of interesting projects, several outside traditional actuarial fields, working with the BDO Audit and Advisory Teams who provide services across South Africa.
• The firm’s service offering and client portfolios provide an exciting and challenging environment. This is a unique prospect in an established team within a dynamic successful growing firm, with the actuarial opportunity set largely untapped. We seek candidates who are energised by operating in a professional atmosphere using their actuarial training and experience to deliver quality actuarial audit support whilst participating in all aspects of the establishment of a broader actuarial offering within South Africa and beyond.

Main Duties & Responsibilities:

Day-to-day responsibilities will include any number of activities such as, but not limited to:

• Actuarial audit support to a portfolio of clients across insurance (general and life), retirement funding and medical scheme industries
• Reviews of technical provisions / IAS 19 liabilities / IFRS 17 liabilities including report drafting
• Leadership of IFRS 17 engagements including transition aspects, working with all three measurement models, assisting clients understand impacts of various policy decisions, actuarial audits, etc.
• Actuarial modelling and valuation work from a variety of perspectives including liabilities, remediation, due diligence, audit, reinsurance, capital optimisation, dashboards, special projects,etc.
• Actuarial function assessments, assisting insurance and other clients to transform and enhance actuarial and risk management processes including model reviews, operating structures, etc
• Resource planning 
• Research, data collection, analysis and, production of actionable recommendations
• Professional engagement with internal and external stakeholders including clients and suppliers
• Operational activities underpinning establishment of the actuarial business unit
• Business development initiatives, proposal writing, thought leadership collateral.

Requirements:

Qualifications, Recognition of Prior Learning, Work Experience, and Knowledge:

Qualifications:

• Nearly qualified or qualified actuary

Work Experience:

• Quality experience in audit support environment is a key requirement
• This experience can encompass insurance (general and life), retirement funds, medical schemes and any wider areas

Knowledge:

• Relevant actuarial skills gained within audit environment or consultancy. Knowledge of IFRS17, capital and solvency calculations, ORSA, reserving, reinsurance advantageous
• Familiarity with and practical experience in assignments under relevant audit standards, professional guidance and legislation including, but not limited to:
• International Financial Reporting Standard 17 (IFRS 17)
• Solvency Assessment and Management (SAM)
• International Standard on Auditing 540 (ISA 540)
• International Accounting Standard 19 (IAS 19)
• International Financial Reporting Standard 13 (IFRS 13)
• Knowledge of relevant analytics platforms advantageous (Prophet, SQL, Python, SAS, Power BI, MATLAB)

Competencies: Technical & Behavioural:

Technical:

• Business writing skills including drafting and reviewing actuarial reports, proposals and client correspondence
• Outstanding communication skills (written and oral), ability to credibly engage clients and senior colleagues
• Ability to take on projects (familiar as well as new) and structure task allocations around critical goals
• Ability to prepare client recommendations utilising industry knowledge, tools and technology
• Confident and credible taking the lead in client interactions, undertaking research, building market profile

Structured

Behavioural:

• Likable.
• Proactive, self-driven, entrepreneurial.
• Attention to detail, organised.
• Hard-working with demonstrated ability in problem solving and managing multiple complex tasks.
• Demonstrable track record of delivering to a portfolio of clients / stakeholders.
• Ability to work constructively in a small team of high output professionals.
• Intellectual curiosity.
• Professional agility to undertake new and untried approaches, broaden areas of actuarial service delivery.
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