Head: Actuarial Unit at Export Credit Insurance Corporation of South Africa Soc Ltd (ECIC)

KEY ACCOUNTABILITIES, MEASURES & INTERFACES

Operational Delivery

• Lead the actuarial and pricing team, fostering technical expertise and professional growth.
• Oversee the calculation of and review monthly reserving.
• Maintain the integrity of actuarial and valuation data.
• Oversee the calculation of regulatory and economic capital requirements.
• Oversee actuarial input into capital strategy, including capital adequacy targets, capital optimisation and solvency monitoring.
• Oversee actuarial input of IFRS 17 technical provisions and related disclosures.
• Prepare and sometimes present actuarial matters to the Executive Committee, Board and Board Committees.
• Develop and maintain actuarial reserving and capital models, and pricing models.
• Set premium rates that reflect expected losses, appropriate expense loadings and profit margins relative to the capital requirements.
• Ensure models are well-documented, regularly calibrated, validated, and fit for decision-making.
• Make recommendations on changes needed for reserving, capital management and pricing related policies, processes and procedures.
• Comply with key regulatory and risk management procedures/frameworks.
• Ensure that the pricing methodologies are adequate with due consideration to industry practices and international benchmarks such as the OECD guidelines on the pricing of export credit insurance.
• Maintain and oversee the actuarial model governance, including model validation, change control, documentation standards and independent review.
• Oversee the Corporation’s Asset–Liability Management (ALM) framework, including providing actuarial input data, validating assumptions and results produced by external ALM consultants, and assessing implications for capital management and risk appetite.
• Ensure ALM outputs are appropriately reflected in capital management, ORSA, and strategic decision-making.

Own Risk and Solvency Assessment (ORSA) process

• Contribute to the development and implementation of the Own Risk Solvency Assessment (ORSA).
• Provide actuarial input into the design and optimisation of the reinsurance programme, including assessing capital efficiency, risk transfer effectiveness and pricing implications..
• Collaborate with other units (Economists, Underwriters, and Risk Managers) to align actuarial projections and analyses with broader Corporation’s goals and risk appetite.
• Ensure maintenance of ORSA documentation.
• Develop with other units stress-tests, and model the solvency impact under such scenarios.

Key Measures

• Quality of actuarial reserve reports (accuracy and appropriate incites on reserve movements).
• Updated models and policies.
• Evidence of the adequacy and effectiveness of premium and reserving policies.

Key Interfaces

• ECIC functions especially Finance, Risk, Portfolio Management Workout, Political Analysis and Economic Research and Underwriting.
• ECIC Executives and Heads of Units.
• Various Management and Board committees.
• Regulatory Stakeholders.

QUALIFICATIONS AND EXPERIENCE

• Must have a relevant Bachelor’s degree and be a qualified actuary or nearing qualification (Technical Member, Associate or Fellow) with the Actuarial Society of South Africa or an equivalent international actuarial body. Fellowship will be advantageous.
• Minimum 10 years actuarial experience across reserving, capital management and pricing
• Extensive experience in Microsoft Office packages e.g. Word; Excel and Power-Point.
• Experience with actuarial modelling tools and programming languages (e.g. VBA, R, Python, SQL)

Closing Date: Friday, 3rd April 2026