Actuary Reporting IFRS17 at Absa Group Limited (Absa)

Job Summary

• Assisting in the month to month IFRS 17 reporting for the entities within the ABSA insurance cluster and supporting the relationship between the in centre IFRS 17 team and the counterpart team in the each entity.
• To assist in the development of tactical strategy and delivery plans, formulate associated practice/s and to ensure operational implementation and adoption i.t.o. actuarial methodology, governance and delivery objectives. This role enables sound management of business performance and financial risk.

Job Description

• Oversight of the IFRS 17 actuarial process for the insurance entities within the group
• Assisting with the continuous improvements in the automation of the IFRS 17 process and driving the integration of the actuarial output into the sub-ledger.
• Refining and preparing monthly IFRS 17 business packs for the entities
• Perform complex IFRS 17 actuarial production processes under limited supervision to support sound management of business performance and financial risk. 

Processes may include:

Analytics and financial reporting (to ensure accurate financial reporting and support management decision making):

• Managing time lines across the various teams in order to produce the IFRS 17 results within timelines
• Performing the actuarial month end reporting process.
• Review results in prophet and ensure that judgement decisions are sign-off by the entity when required
• Support audit and formal reporting
• Reporting and analysis from prophet information and collaborating with sub-ledger team to produce reports that add value
• Assisting and improving the processes within Prophet Enterprise.
• Assisting in the NPA process where needed
• Providing Budget support where needed
• Preparation and analysis of data as inputs to actuarial calculations such as reserving
• Production of management information

 Running models (to ensure accurate financial reporting and support management decision making) at an advanced level:

• For inputs to processes such as reserving, capital, pricing or business case modelling
• Development of and maintenance of advanced spreadsheet models which may include planning and capital and risk modelling
• Development of and maintenance of actuarial open platform software complex models

1st line quality / assurance review and checking (to ensure accuracy of outputs for sound business decision making and ensuring a robust control environment).

Education

• Bachelor's Degree: Actuarial Science