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• RMA in a nutshell Identifying a need to help care for miners who were injured while on duty, Rand Mutual (RMA) was founded in 1894 by three mining companies on the Witwatersrand as a non-profit mutual assurance company. Today RMA has grown to offer workmens'​ compensation benefits to the mining, iron, metal, steel and relate...
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Purpose
Being an integral part of the Corporate Actuarial team, the Actuarial Analyst will be responsible for supporting the actuarial function in preparing monthly valuations, EXCO reports, building financial models, determining capital requirements, pricing and product development.
Qualifications and Experience required
- NQF Level 7: Bachelor’s degree – Actuarial Science
- Progress towards actuarial exams – 2/3 CT exams
- Previous life and short-term insurance company valuation or insurance risk management experience would be an advantage
- Minimum 2 to 3 years’ experience required
Key Areas of responsibility
- Provide support to the actuarial function
- Preparation of the monthly valuation data
- Ensure valuation data integrity
- Preparation of actuarial specific areas in all the Group regulatory returns (Monthly, Quarterly, Annual)
- ORSA and SAM reporting
- Maintaining actuarial data
- Timeous response to actuarial queries
- Assistance in price modelling
- Relationship building and reporting:
- Build good relationships with internal stakeholders
- Effective reporting and assessment of problem areas
- Regulatory compliance
- To ensure all work performed in terms of required standard and regulation
- To ensure that all company policies and procedures are adhered to
- To ensure timely submission of various reports
Ad hoc projects:
- Provide support with any related ad hoc duties
Knowledge, Skills and Competencies required
- Knowledge of business policies, processes and procedures, legal compliance
- Service Orientation / Customer Responsiveness
- Verbal and written communication
- Planning, Organising and Follow through
- Attention to detail
- Analytical thinking
- Judgement and Decision-making
- Ethical behaviour (honesty/integrity)
- Judgement and Decision-making
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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
go to method of application »
Purpose
Reporting to the Executive Actuary, the RMA: Head of Corporate Actuarial will be responsible for overseeing a team of actuarial professionals that will be responsible for ensuring that all life and non-life actuarial valuations are prepared timeously and accurately. The incumbent will also be responsible for overseeing of the development and maintenance of the actuarial valuation system and data integrity. An integral part of the role will also be supporting business with insights and producing reports for the executive, board and various committees.
Qualifications and Experience required
- NQF Level 7: Bachelor’s degree – Actuarial Science
- Progress towards actuarial exams – Qualified or nearly qualified
- Actuarial Society /Institute of Actuaries
- Minimum 8 years’ experience in an insurance regulatory environment
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
Method of Application
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