Senior Actuarial Specialist - Valuations at Rand Mutual - RMA

An exciting opportunity exists within the Rand Mutual Assurance Actuarial team offering exposure to an interesting combination of technical and business issues.  This is a great time to join RMA as we look to grow the Life business and develop our actuarial team.

Purpose

Reporting in to the RMA: Head of Corporate Actuarial, the incumbent will be responsible for overseeing the development and maintenance of the actuarial valuation system and ensuring ongoing data; ensuring that all actuarial valuations are prepared timeously and accurately. An integral part of the role will also be supporting business with insights and producing reports for the executive and various committees.

Qualifications and Experience required

• NQF Level 7: Bachelor’s degree – Actuarial Science
• Progress towards actuarial exams – preferably Associate actuary, but consideration would be given to strong candidates with less exams
• Minimum 5 years’ experience in the non-life insurance environment
• Team leadership experience

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

Development:

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

Ad-hoc:

• 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