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  • Posted: Oct 19, 2020
    Deadline: Not specified
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    • RMA in a nutshell Identifying a need to help care for miners who were injured while on duty, Rand Mutual (RMA) was founded in 1894 by three mining companies on the Witwatersrand as a non-profit mutual assurance company. Today RMA has grown to offer workmens'​ compensation benefits to the mining, iron, metal, steel and relate...
    Read more about this company


    Head of Corporate Actuarial


    Reporting to the Executive Actuary, the RMA: Head of Corporate Actuarial will be responsible for overseeing a team of actuarial professionals that will be responsible for ensuring that all life and non-life actuarial valuations are prepared timeously and accurately. The incumbent will also be responsible for overseeing of the development and maintenance of the actuarial valuation system and data integrity. An integral part of the role will also be supporting business with insights and producing reports for the executive, board and various committees.

    Qualifications and Experience required

    • NQF Level 7: Bachelor’s degree – Actuarial Science
    • Progress towards actuarial exams – Qualified or nearly qualified
    • Actuarial Society /Institute of Actuaries
    • Minimum 8 years’ experience in an insurance regulatory environment

    Key Areas of responsibility

    Valuations and reporting:

    • Ensure accurate and timely preparation of the actuarial valuation for the life and non-life businesses including:
      • Data preparation and checking
      • Reserving
      • Embedded value
      • Solvency
    • Production and monitoring of various key performance indicators
    • Providing insights to business
    • Assist and provide input into the budget process
    • Ensure actuarial components of regulatory submission (ORSA and SAM) are completed
    • Support the business with capital management
    • Prepare and present actuarial matters to exco and the Board and act as an advisor to the Board and its sub-committees
    • Experience investigations and assumption setting

    Staff management:

    • Manage, supervise and training of staff
    • Manage relationships within the company and stakeholders e.g. Statutory Actuary
    • Lead and motivate the team to achieve targets


    • Implement IFRS17 across the business
    • Build and maintain actuarial models
    • Maintain model governance


    • Assist with ad-hoc projects
    • Assist and provide input on pricing and product development

    Knowledge, Skills and Competencies required

    • Knowledge of business policies, processes and procedures, legal compliance
    • Reporting experience
    • Valuation experience
    • Life and non-life experience
    • Knowledge of the Insurance Acts (long and short term) including SAM, IFRS17
    • Actuarial guidelines
    • Experience leading/managing a team
    • Attention to detail
    • Knowledge/Information Management
    • Financial acumen
    • Interpersonal awareness / empathy
    • Judgement and Decision-making
    • Analytical thinking

    Method of Application

    Interested and qualified? Go to Rand Mutual - RMA on to apply

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