Associate Actuarial Analyst - RSD at South African Reserve Bank

Brief description

• The main purpose of these two positions is to realise the responsibilities of the Prudential Authority (PA) in respect of the supervision and regulation of life and non-life actuarial risks in insurance entities. The successful candidates will be involved in operational duties associated with on- and off-site analysis, and will be part of a team of risk specialists in the PA responsible for providing specialist knowledge, skills and experience in the life and non-life actuarial risk management areas. One position is in the Life team, one in the Non-life team.

Detailed description

The successful candidates will be responsible for the following key performance areas:

Provide actuarial support concerning both solo and group entities, this includes but is not limited to the following: 

• scrutinising the financial soundness of either life or non-life insurers; 
• participation in on-site visits to life or non-life insurers; and 
• the consideration of internal model approvals.
• Scrutinise and check the compliance of submissions by life or non-life insurers’ actuaries.
• Assist in maintaining the statutory returns required by regulated entities.
• Participate in projects initiated within the PA and industry forums.
• Develop and test systems and procedures for internal use.
• Maintain and upgrade databases.
• Participate in and execute projects initiated within industry forums.
• Transfer knowledge and skills to stakeholders, both inside and outside of the PA.

Qualifications
Job requirements

To be considered for these positions, candidates must be in possession of:

• a relevant Postgraduate degree in Actuarial Science;
• be actively pursuing studies and ideally have passed or been exempted from at least two A-series subjects of the Actuarial Society of South Africa. Credit will also be given for passes in any of the more advanced subjects; and
• two to five years’ relevant working experience, preferably in the life or non-life insurance industry, whichever is relevant.

The following would be an added advantage:

• good communication (verbal and written) skills;
• ability to perform under pressure without compromising quality;
• ability to work independently and within a team;
• good interpersonal skills; and
• proactive problem-solving skills.

Job related skills and knowledge:

•  Solvency Assessment and Management (SAM) experience;
•  computer literacy (preferably including programming skills);
•  ability to understand complex financial models; and
•  ability to deal professionally with internal and external clients.

Additional requirements are as follows:

• knowledge of the Insurance Act 18 of 2017;
• knowledge of the Prudential Standards;
• knowledge of the risks that insurers take;
• ability to influence, build and maintain relationships; and
• reliable own transport, as the position requires travel between the SARB’s Head Office in Pretoria and the offices of supervised entities that are generally outside of Pretoria.

Deadline:6th February,2026