Head: Financial Risk Management at Santam Insurance

What will you do?

• Santam’s Risk Office has a position available for a Head: Financial Risk Management. This position is based at our Head Office in Bellville and will report to the Chief Risk Officer of the Santam Group.
• The financial risk management function performs its duties as set out in the FRM charter, which includes technical provisions, capital requirements, asset allocation, reinsurance arrangements and compliance with related regulatory reporting requirements.

What will make you successful in this role?

Developing and maintaining Santam’s internal model. 

• Conduct the Santam Ltd and Santam Group own risk and solvency assessment (ORSA) process and produce the ORSA report.
• Monitor Santam’s performance with respect to its financial risk appetite criteria. 
• Calculate the expected return on risk adjusted capital and the underwriting margins required to achieve the target return. 
• Determine the optimal level and structure of Santam’s capital base. 
• Provide input into Santam’s investment strategy and the appropriate use of derivative structures. 
• Assess the adequacy and appropriateness of Santam’s reinsurance program. 
• Analyse the adequacy of Santam’s technical provisions. 
• Actuarial lead on the IFRS17 project.

The chosen candidate will be exposed to all aspects of non-life insurance across the broad range of products offered by the Santam Group and its subsidiaries.

Qualification and Experience

• Qualified actuary (FASSA or FIA).
• Short term insurance experience is essential.

Skills

• Strong computer skills 
• Strong communication skills
• Highly self-motivated individual
• Proactive
• Fast learner
• Inquisitive personality

Core Competencies

• Cultivates innovation - Contributing strategically
• Customer focus - Contributing strategically
• Drives results - Contributing strategically
• Collaborates - Contributing strategically
• Being resilient - Contributing strategically