Senior Actuarial Specialist IFRS 17 at AVBOB South Africa

Description

• You will be responsible for actuarial modelling in line with IFRS 17 requirements.
• Take ownership of the actuarial modelling work stream within the IFRS 17 Working Committee
• Performing modelling gap analyses.
• Designing appropriate Premium Allocation Approach & General Measurement Model valuation methodologies suitable to a mutual insurer.
• Model development, improvement and change control management.
• Determining, recording, and updating key actuarial assumptions.
• Performing financial impact assessments.
• Work closely with the other Working Committee members to ensure an effective and efficient IFRS 17 implementation.
• Look for areas of improvement and alignment between SAM and IFRS 17 reporting processes.
• Assessment and drafting of IFRS 17 accounting position papers and implementation guidelines.
• Design, set up and documentation of the IFRS 17 modelling processes to meet reporting needs, with a focus on governance and controls.
• Applying an innovative mind-set to aspects such as automation, validation, efficiency, and controls in the design of cash flow engines and with assumption setting processes.
• Assessing, rating, and implementing various vendor or building bespoke modelling solutions in partnership with ICT and Finance.
• Liaise with ICT, Finance, actuarial consultants and auditors to prepare for IFRS 17 transition.
• Work with the actuarial team to enhance and improve actuarial modelling and reporting processes under business as usual conditions.
• Work with senior management to develop and refine analytical capabilities required for managing the business under IFRS 17.
• Development of models and processes which will feed into the IFRS 17 results consolidation.
• Assessing the impact of IFRS 17 on product design and capital management

Requirements

• Appropriate tertiary qualification in Actuarial Science.
• Qualified or nearly qualified Fellow of the Actuarial Society of South Africa (FASSA) or similar.
• A minimum of 8 years life insurance valuations experience.
• Extensive experience with Prophet, DCS or other actuarial modelling software.
• Previous IFRS 17 experience is preferred but not essential.
• Advanced Excel, VBA and SQL experience will be an advantage.
• Self-starter
• Ability to work independently.
• Goal-orientated
• Deadline-driven
• Ability to work under pressure.
• Strong analytical and problem solving skills.
• Ability to co-opt more junior team members into the IFRS 17 project and providing necessary guidance.
• Relationship management skills