Corporate Actuarial Analyst at Bryte Insurance Company Limited

The Actuarial Analyst performs routine Reserving and Capital tasks as assigned requiring minimal direct supervision; performs more complex analyses under the supervision of more senior actuaries.

Key Tasks & Accountabilities

General

• Provide basic actuarial services with minimal supervision by a more experienced actuary.
• Perform more complex analyses as assigned under the supervision of a more experienced actuary.
• Demonstrate increasing knowledge of relevant actuarial disciplines and procedures to be able to provide first class service to internal customers.
• Actively pursue local actuarial qualification and demonstrate consistent progress toward designation.

Capital specific

• Under general direction of the capital actuary, complete the modelling requirements required for SAM with completion of the QRT’s
• Improve current modelling processes required for SAM
• Assistance with Pillar 2 ORSA requirements for SAM.
• Helping to find capital efficiencies through the implementation of SAM as well as modelling improvements
• Provide input for better data collection, cleaning and formatting
• Documentation of processes
• Refinements of models as more data and results are collected
• Assistance with presentation production
• Assistance with solvency projections
• Projects on developing new modelling techniques for capital efficiencies.

Reserving Specific

• Under general direction of the reserving actuary, provide assistance during the reserving process and subsequent management reporting.
• In-depth quarterly reserve reviews for the South African, Botswana as well as UMA businesses which include various lines of business across personal, commercial as well as corporate segments.
• Monthly updates of loss ratios and IBNR that is essential to the operation of the business.
• Involvement during the budget process which includes the setting up of Loss Ratio Walks as well as analysing trends in attritional, large catastrophe and weather losses.
• Quarterly calculations include:

Business Support Specific

• Support actuarial services related to Risk Based Capital model development, parameterisation and allocation activities.
• Perform data analytics and/or reinsurance analysis.

Relationships

Internal

• Actuarial business partners
• Local Reserving and Capital Manager
• Finance (FAR and PPM)
• Underwriting
• Claims

External

• Minimal external interaction
• Network of contacts within the actuarial profession

Requirements  Qualifications & Experience:

• University degree in mathematics or a related field.
• Good progress with the A-series exams.
• Pursuing Actuarial qualification (per local society).

Experience & Qualities

• Two to five years of experience in an actuarial environment.
• Experience in multiple functions strongly preferred.
• Self-motivation and drive.
• Professional, enthusiastic and positive attitude.
• Able to meet deadlines and work under pressure.

Knowledge:

• Intermediate knowledge of actuarial professional guidance and relevant legislation.
• Intermediate knowledge of finance and accounting practices, financial analysis, and reporting; ability to apply this knowledge appropriately to diverse situations.
• Basic knowledge of the insurance industry's trends, directions, major issues, regulatory considerations and trendsetters.
• Basic knowledge, insight, and understanding of business concepts, tools, and processes that are needed for making sound decisions in the context of the company's business; ability to apply this knowledge appropriately to diverse situations.
• Intermediate knowledge of practices and policies governing disclosure of information about the organization, its business activities, and employees; ability to apply this knowledge appropriately to diverse situations.

Technical Skills

• Proficiency in English with a preference for proficiency in at least one other language.
• Effective intermediate oral and written communication, presentation and interpersonal skills.
• Advanced knowledge of and ability to use spreadsheet software.
• Basic knowledge of statistical and actuarial tools and techniques and ability to apply modelling processes and techniques to facilitate risk management decisions.
• Intermediate knowledge of techniques and tools that promote effective analysis and the ability to determine the root cause of organizational problems and create alternative solutions that resolve the problems in the best interest of the business.