ACTUARIAL ASSISTANT (RESERVING)

SUMMARY:
ROLE PROFILE / LOCATION: A Permanent Specialist Position in the Financial Services Industry (Short -Term Insurance Industry) based in Johannesburg (Gauteng) REMUNERATION DATA: R500, 000.00 – R700, 000.00 PA Total Cost to Company including Standard Corporate Benefits

POSITION INFO:

JOB SUMMARY: My client is in search of a suitably qualified and experienced individual to assume the above-mentioned role in their Actuarial & Analytics Unit. Key Performance Areas will include: -

Reserving

• Calculation of reserves/technical provisions for current IFRS 4 and SAM reporting
• Involvement in the process of transitioning from an IFRS 4 to an IFRS 17 basis, specifically around reserving
• Financial Quarter-End & Year-End
• Updating of key reserve inputs for IFRS and SAM quarterly and yearly updates
• In future, updating of reserves under an IFRS 17 basis
• Liaising and communicating with relevant departments in order to collect data necessary for regular reserve
• calculations
• Liaising with various sets of auditors on reserving related matters

Providing Information

• Assisting with the preparation of information for the Prudential Authority’s SAM (QRT and QRR) and Financial Sector Conduct Authority’s CBR reports
• Involvement in various forms of actuarial reserve reporting, such as input into Non-Life Actuarial Committee packs, auditor documents, drafting ofinternal peer review reports, provision of regular SAM and IFRS commentary as well as process and methodology documentation
• Providing management information
• Other ad-hoc data requests

Data & Data Quality Management

• Assisting with all data related tasks / queries, involving monthly data collection and provision, processing of data for use within the actuarial unit and performing relevant checks and reconciliations
• Assisting with the updating and maintaining of the data quality management process, involving the preparation of regular data quality reports and liaising with key stakeholders to drive the process towards improved data quality throughout the business
• Keeping up to date knowledge of and ensuring compliance with all data related legislation, such as POPIA

Processes

• Assisting with the improvement and automation of various processes within the scope of the position
• Ensuring required documentation is in place and up to date, including procedure manuals and methodology
• documentation
• Assist with and provide input on other projects

Minimum Requirements

• A Degree in Actuarial Science (ideally passed / exempt from most / all of Parts A1 and A2 of ASSA exams (or other equivalent actuarial body))
• A minimum of 3 years relevant work experience within the Short-Term Insurance Industry(ideally with short-term reserving exposure)
• Visual Basic, Microsoft Access, Microsoft Excel, Advanced SQL (preferable)
• ResQ software proficiency would be advantageous as would being able to code within Python
• Excellent technical ability and analytical skills with attention to detail
• Good communication skills (verbal & written)
• Relationship building, networking and interpersonal skills are paramount
• Good interpersonal skills

MOTIVATION: My Client seeks a professional and results orientated person that has the ability to work on own initiative, prioritise work, handle pressure and make effective daily decisions.

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