Senior Actuarial Analyst at Hollard Insurance

Job Advert Summary    

• This role will involve supporting the various functions within Hollard Long-term Corporate Actuarial team with a focus on assisting the Capital and Projects team to manage the capital calculations and driving capital efficiencies. In addition, members of the team are expected to manage ad-hoc requests and specialist projects to enable and improve the financial performance of both licenses.

Key Responsibilities

• Assisting with the Capital calculations for the two life licenses within Hollard
• Calculation of SAM liabilities, Own Funds and SCR cover ratios
• Involved in producing and providing insight on annual budgets, forecasting and ongoing monitoring of experience.
• Consolidation of results and the calculation of various profit or performance metrics on a SAM basis e.g. Net Generated Equity, Return on Capital.
• Manage the implementation of the Iterative Risk Margin implementation as well as other capital optimisation initiatives.
• Assess, develop, and distribute solutions around efficient balance sheet management e.g., reinsurance arrangements and optimization.
• Stress and scenario testing to understand the resilience of the business to a variety of events.
• Completing and reviewing returns submitted to the Prudential Authority, FSCA, ASISA, NCR, and other regulatory and industry bodies.
• Providing technical support and advice on the impact of dividends on the solvency position of both Long-term licenses.
• Provide technical input and commentary into the Own Risk and Solvency Assessment (ORSA).
• Determine solvency and profitability impacts from possible business partnerships and acquisitions.

Required Knowledge and Experience    
Required Knowledge and Skills

• Good Understanding of the different life insurance valuation methodologies (e.g. published, statutory, etc.) and reporting requirements applicable to life insurance companies.
• Growing understanding of key actuarial concepts and principles applicable to life insurance.
• Understanding of financial reporting/systems and reporting requirements applicable to life insurance companies.
• Good MS Excel skills (including VBA) are a basic requirement.
• SQL experience will be an advantage.
• Strong technical, analytical and communication skills.
• Ability to take ownership of their tasks.
• Ability to work independently, accurately and clearly.
• Strong detail orientation coupled with the ability to work with vision in mind.
• Ability to understand the urgency or importance of various tasks, with the ability to prioritise these.
• Ability to work well within a team environment.

Educational Requirements    

• Significant progress on all the subject requirements for TASSA and/or AMASSA (or international equivalent) designation through the Actuarial Society of South Africa.