Head - Actuarial Modelling & Technology (Parktown) at Rand Mutual - RMA

THE JOB AT A GLANCE

• To establish and lead a world-class actuarial modelling function that delivers strategic value across the organisation through innovative, accurate, and efficient models.
• The role ensures all actuarial models are developed to the highest standards, governed effectively, and leverage cutting-edge technology to support business growth, risk management, and competitive advantage.

WHAT WILL YOU DO?

Strategic Leadership & Model Development

• Create and implement a new standard approach to modelling across the organization, establishing consistent methodologies, documentation standards, and quality frameworks

Lead model development across multiple actuarial functions including:

• Valuations, reserving & technical provisions
• Pricing and product development
• Financial reporting (IFRS17)
• Risk management and capital modelling
• Quote generation and underwriting support
• Experience investigations
• Reinsurance optimisation modelling
• Develop comprehensive business case models to support strategic initiatives, new product launches, and investment decisions
• Establish and maintain model governance frameworks ensuring all models are validated, documented, and comply with regulatory requirements
• Drive predictive analytics capabilities using advanced statistical techniques, machine learning, and artificial intelligenceTechnology & Innovation
• Ensure all actuarial and related systems and technology are fit for purpose, evaluating and recommending systems that meet current and future business needs
• Lead the implementation of new actuarial technologies including cloud-based platforms, automated modelling tools, and advanced analytics software
• Oversee the migration of Excel-based models to more robust, scalable, and auditable platforms
• Champion innovation in modelling techniques, staying abreast of industry developments and emerging methodologies

Data Management & Performance

• Monitor the performance of data used in models, establishing data quality metrics and remediation processes
• Collaborate closely with data teams to ensure data availability, accuracy, and timeliness for modelling purposes
• Define data requirements for new models and work with data governance teams to establish data standards\

Reporting, Analysis & Stakeholder Management

• Provide comprehensive reporting and analysis to executive leadership, the Board, and regulatory bodies
• Present complex modelling results in clear, actionable insights for non-technical stakeholders
• Prepare regulatory submissions and respond to supervisory inquiries regarding models.
• Develop dashboards and visualisation tools to communicate model outputs effectively

Team Leadership & Development

• Build, lead, and develop a high-performing team of actuarial modellers and analysts
• Foster a culture of innovation, collaboration, and continuous learning
• Establish career development pathways and mentoring programs for team members
• Manage resource allocation and prioritization across competing modelling demands

Governance & Compliance

• Chair actuarial modelling & technology steering committees to execute projects and strategy
• Ensure compliance with regulatory requirements including SAM, IFRS 17, and local regulations
• Coordinate model validation activities with internal audit and external validators
• Maintain model inventories, documentation, and change control processes

Requirements

WHAT YOU'LL BRING TO THE TABLE?

Essential:

• Qualified Actuary (Fellow of relevant actuarial body: FASSA, FIA, FSA, FCAS, or equivalent)
• Minimum 9+ years of actuarial experience with at least 5 years in senior leadership roles
• Extensive experience in actuarial model development across multiple disciplines (pricing, reserving, capital modelling)
• Proven track record of leading and managing teams
• Demonstrated experience in model governance and regulatory compliance
• Strong background in implementing technology solutions and driving digital transformation
• Experience with predictive analytics, machine learning, and advanced statistical techniques

Advantageous:

• Knowledge of IFRS 17, SAM, and other regulatory frameworks
• Master’s degree in Actuarial Science, Statistics, Mathematics, Data Science, or related field
• Experience in multiple insurance sectors (Life, General Insurance, Health etc.)
• Experience working with cloud-based platforms (AWS, Azure, GCP)
• Published research or thought leadership in actuarial modelling
• Experience in insurtech or digital transformation initiatives