Head of Capital and Balance Sheet Management at Absa South Africa

Job Summary

Overall job purpose

• To develop tactical strategy and delivery plans, formulate associated practice(s) and to ensure operational implementation and adoption in terms of actuarial methodology, governance and delivery objectives. This role enables sound management of business performance and financial risk.

Job Description

• Perform complex actuarial production processes under limited supervision to support sound management of business performance and financial risk. 

Processes includes:

• Solvency Assessment and Management (SAM) Prudential Valuation for Absa Life and the Cells

Solvency Capital Requirements

• Iterative Risk Margin Calculations
• Dividend proposals
• Quarterly and Annual Returns

Investments Mangement

• Asset Liability Modelling (ALM) exercises,
• Setting investment strategies for the business
• Monitoring investment performance against benchmarks and risk appetite
• Regular engagements with the Asset Managers.

Running models (to ensure accurate financial reporting and support management decision making) at an advanced level:

• For inputs to processes such as reserving, capital, pricing or business case modelling
• Development of and maintenance of advanced spreadsheet models which may include planning and capital and risk modelling
• Development of and maintenance of actuarial open platform software complex models
• 1st line quality / assurance review and checking (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);
• Understand and deliver requirements of internal stakeholders, within the same business unit; Understand and deliver requirements of internal stakeholders, not within the same business unit i.e. Risk, Group.

People management responsibilities (to support talent development and business resilience)

• Managing a team of 5 Actuarial Specialists and Analysts

Minimum Requirements:

• Qualified Actuary with at least 2 years Post Qualification Experience
• SAM and Capital Management experience Crucial
• Experience in managing people
• Experience of Iterative Risk Margins preferred (not a requirement).

Education

• Bachelor's Degree: Actuarial Science