Strategic Actuarial Projects Lead at Absa Group Limited (Absa)

Overall job purpose

• To develop tactical strategy and delivery plans, formulate associated practice(s) and to ensure operational implementation and adoption in terms of actuarial methodology, governance and delivery objectives. This role enables sound management of business performance and financial risk.

Job Description

Key responsibilities: 

• Lead on ORSA modelling and ORSA reporting for Life entities.
• Risk Appetite setting and Stress and Scenario Testing.
• Development and production of Executive and Board reporting.
• Leading on Strategic Actuarial Projects which may relate optimizing reporting, regulatory, or profitability outcomes.

Key Accountabilities:

• Perform complex actuarial production processes under limited supervision to support sound management of business performance and financial risk.  

Processes may include: 

1. Analytics and financial reporting to ensure accurate financial reporting and support management decision making: 

• Preparation and analysis of data as inputs to actuarial calculations such as reserving 
• Production of management information 
•  Production of experience analyses as an input for basis setting / pricing exercises; setting of valuation and pricing bases 
•  Production of actuarial exercises such as reserving, capital, and pricing 
•  Production of analysis of earning, risk reporting and analytics, and ORSA processes 

2. Product development and management to enable business performance and drive customer value, including: 

•  Production of competitor research, understanding of the landscape and development of customer value propositions 
•  Creating advanced product design, formulation of product specifications and implementing multiple major product enhancements 

3. Running models to ensure accurate financial reporting and support management decision making at an advanced level: 

•  For inputs to processes such as reserving, capital, pricing or business case modelling 
•  Development of and maintenance of advanced spreadsheet models which may include planning and capital and risk modelling 
• Development of and maintenance of actuarial open platform software complex models 

4. 1st line Quality Assurance review and checking to ensure accuracy of outputs for sound business decision making and ensuring a robust control environment. 

5. Coordination of a committee / forum to enable business and risk management execution and oversight for a sound control environment  

•  Understand and deliver requirements of internal stakeholders, within the same business unit.  
•  Understand and deliver requirements of internal stakeholders, not within the same business unit i.e. Risk, Group. 

6. People management responsibilities to support talent development and business resilience: 

• May have 1 to 2 junior direct reports. 

Education

• Bachelor's Degree: Actuarial Science