Valuations and Modelling Actuary: Life Insurance at Capitec Bank

Purpose Statement

To enhance the financial performance of Capitec Insurance through:

• Performing of monthly reserving and profit calculations.
• Support in the calculation of solvency requirements as specified in the Financial Soundness for Insurers specs (previously SAM).
• Developing and maintaining Prophet and other models used in the valuation process.
• Ad-hoc pricing and experience investigation tasks to understand the ongoing experience of the Capitec Insurance book.

Qualifications (Minimum)

• Bachelor's Degree in Statistics or Mathematics

Qualifications (Ideal or Preferred)

• Honours Degree in Statistics or Mathematics

Experience

MINIMUM:

• 3 - 5 years’ actuarial experience in the life insurance industry including valuation, reporting and or capital management.
• Experience with IFRS17.
• Experience with Prophet or other actuarial modelling software.

IDEAL:

• 5+ years actuarial experience in the life insurance industry including valuation, reporting and or capital management.
• Experience with working in a team with multiple deliverables.
• Experience in working with data visualisation technologies (Power BI, etc.)

Knowledge

MINIMUM:

• Actuarial principles, standards, tools, systems, models and methodologies
• Knowledge of the Life Insurance industry and landscape
• IFRS 17 
• Coding on FIS Prophet or other actuarial/statistical modelling software.
• Knowledge and understanding of regulatory and legal requirements related to insurance.

IDEAL:

• Relevant knowledge of valuations/reporting and/or capital management
• Business case conceptualisation, principles and compilation
• Experience analysis and decrement table construction
• Governance and risk management principles.

Skills

• Analytical Skills
• Attention to Detail
• Numerical Reasoning skills
• Planning, organising and coordination skills
• Reporting Skills

Conditions of Employment

• Clear criminal and credit record