Analyst: Corporate Actuarial at Road Accident Fund

Purpose of the Job:

• Reporting to the Senior Analyst: Corporate Actuarial, the Analyst: Corporate Actuarial is responsible to support the Manager to manage and provide actuarial service advice to the RAF business.

Key Performance Areas

Valuation of outstanding claims provisions.

• Assist in valuation of outstanding claims provisions.
• Assist with producing the valuation report.

Development and management of Funding Model

• Assist development and management of Funding Model.
• Data manipulation to state of quotation of loss of earnings or loss of support benefits – especially the model input.
• Running model and reporting on results

Accident data management and forecasting

• Assist in accident data capturing, analysis and reporting from different sources.
• Assist in developing models to forecast the number of accidents.
• Assist in producing the accident forecasting report.

Loss of income calculations

• Assisting with calculations and checking the quotation results actuarially for reasonability

Assist with monthly claims statistics for regions and management

• Extracting data and data reports from IT claim system(s).
• Assist with report compilations as and when required
• Ad hoc reinsurance and actuarial work
• Monthly statistics for reporting
• Assist with report compilations as and when required

Assist with Actuarial reports to FSB

• Assist with FSB Actuarial reports.
• Assist management with calculations.

Actuarial investigations

• Assist with investigating the mortality and morbidity experience to help in setting the quotation of loss of earnings and loss of support benefits, statistical and regression analysis.
• Calculate reinsurance recoveries based on treaty terms

Reporting

• Aid in the maintenance of functional reporting systems, for management, project or performance reporting.
• Ensure regular and periodic reports are sent to the Senior Analyst for review and submitted as and when required to provide progress updates and/or inform management decisions.
• Maintenance and storage of proposals, briefings, presentations, reports, and other documentation and providing management information both verbally and in report format.

Stakeholder management

• Assist Assist with maintaining proactive and progressive relationships with key stakeholders.
• Assist with inquiries and requests for information from both internal and external stakeholders.
• Effective stakeholder management.
• Aid in the maintenance of relationships with vendors, service providers or procurement teams and ensure that all relevant procured items are invoiced and paid on time.
• Assist with presentation of data findings in an easy-to-read and understood format.

Continuous improvement & innovation

• Research industry best practice/innovations and identify where technology can be utilised in systems and processes.
• Understand job specific tasks and their requirements.
• Share ideas to improve the way of working.
• Contribute to creative sessions and offer ideas to the team.
• Participate in initiatives to improve service delivery.

Qualifications and Experience

• Bachelor’s Degree/Advanced Diploma in Actuarial Science/ Mathematics/ Investment Management/ Risk Management related qualification.
• Relevant 4 years’ experience in an Actuarial environment.

Technical, Managerial, and behavioral competencies required

• Planning, Organising and Coordinating
• Personal Mastery
• Judgement and Decision Making
• Ethics and Values
• Client Service Orientation
• Excellent verbal and written communication skills.
• Strong Microsoft Excel, Access and MS Word skills.
• Complex problem identification, solving and decision making.
• Sound actuarial judgment.
• Strong technical background in reserving/valuations.
• Independent and creative analysis of business results
• Excellent analytical, problem solving & data manipulation skills.