Corporate Actuarial Specialist - South Africa - Johannesburg at Absa Group Limited (Absa)

Job Summary

Overall job purpose

• Management of complex actuarial production processes to deliver sound management of business performance and financial risk.

Job Description

Key accountabilities

• Analytics to ensure accurate financial reporting and support management decision making
• Preparation and analysis of data as inputs to actuarial calculations where required
• Production of management information
• Production of actuarial exercises such as Embedded Value and Value of New Business reporting under the IFRS17 framework, this entails coordinating inputs from the various BAU’s.
• Analysis and reporting of policyholder liabilities under the IFRS17 framework, this entails coordinating inputs from the various BAU’s.
• Refine existing AoS/AoEV processes to be appropriate for reporting under the IFRS17 framework
• Running models to ensure accurate financial reporting and support management decision making at an advanced level
• Periodic experience monitoring and development of underlying models when required
• Development of and maintenance of advanced spreadsheet models
• Development of and maintenance of actuarial open platform software complex models
• Perform independent review and provide actuarial opinions to ensure accuracy of outputs for sound business decision making and ensuring a robust control environment
• Coordination of a committee / forum to enable business and risk management execution and oversight for a sound control environment
• Draft papers for committees on results and present to those committees
• Understand and deliver requirements of internal stakeholders, within the same business unit e.g. Finance Control
• Understand and deliver requirements of internal stakeholders, not within the same business unit i.e. Risk, Group
• Collaboration with and deliver requirements for external stakeholders i.e. head of actuarial control function (HAF), auditors, cell captive businesses etc.
• 1st line quality / assurance review and checking (to ensure accuracy of outputs for sound business decision making and ensuring a robust control environment).
• People management responsibilities (to support talent development and business resilience): Two direct reports

Education

• Bachelor's Degree: Actuarial Science
• Close to completion of Actuarial Examinations i.e. at least 12 exams

Experience

• +- 5 years’ experience in corporate actuarial life office valuations and reporting
• Preference will be given to EE candidates who are closely qualified or newly qualified Fellows of the Actuarial Society of South Africa (or equivalent recognized body)
• Exposure to the IFRS17 reporting framework will also be beneficial to applicants

Education

• Bachelor's Degree: Actuarial Science