Junior Corporate Actuary at Swiss Re

About the role

Your focus in the role will be on the calculation of the solvency capital requirements under the Solvency Assessment and Management (SAM) framework for the legal entity Swiss Re Corporate Solutions South-Africa (SRCSA) including the valuation of best estimate technical provisions.

The main responsibilities are:

• Perform the quarterly and annual solvency capital requirement calculations including market value balance sheet, SAM capital requirements, technical provisions and own funds
• Prepare all actuarial SAM reporting including populating the actuarial components of the Quantitative Reporting Templates (QRTs) and documenting the solvency position results in the Own Risk and Solvency Assessment (ORSA) report
• Perform the technical provisions transformation required from US GAAP/IFRS 17 to local GAAP
• Closely cooperate with major internal partners (Finance/Accounting, Risk Management, Claims, Underwriting, Pricing) including quarterly reporting on key issues to provide early warning signals to senior management
• Play an active role in the actuarial team in supporting all actuarial requests of internal and external stakeholders including external/internal auditors as well as regulators, and address them on a timely basis
• Inter-regional coordination with other Swiss Re actuarial teams collaborating in various projects, such as supporting actuarial process development including the implementation of IFRS 17 accounting standards
• Detailed ad-hoc portfolio reviews and analyses as required including management support

About the Team

You will be part of the Swiss Re Corporate Solutions actuarial team based in Zurich. We are responsible for determining the technical provisions at adequate levels meeting all local statutory and US GAAP as well as IFRS 17 requirements for the region Europe and Middle East. In addition, the team is supporting Swiss Re Group in all actuarial risk management aspects with respect to Swiss Re Corporate Solutions.

About You

Bringing strong interpersonal skills and ability to prioritise, you are bound for success in this role. In addition, you bring:

Must haves:

• Bachelor's degree in Actuarial Science, with the candidate making good progress in the actuarial exams from Actuarial Society of South Africa (ASSA) or any other equivalent Actuarial Body
• 2 – 4 years relevant experience in P&C (non-life) insurance business
• Experience and good understanding of capital calculations under Solvency Assessment and Management (SAM)
• Experience and good understanding of reserving methods for P&C business

Nice to have:

• Knowledge of US GAAP and IFRS 17 financial principles