JOB PURPOSE
This role will oversee all actuarial matters within the organization. Core purpose is to coordinate the work of the actuarial officers and develop actuarial reports, product development & pricing and experience investigations.
KEY RESPONSIBILITIES
Product Development
- Understand business requirements and research new products
- Develop business cases
- Development of benefit and premium structures
- Implement developed products through communication with relevant stakeholders and supervision of application
Pricing & Profitability Testing
- Review of existing rates on a regular basis
- Identifying where products are unprofitable through portfolio monitoring and financial analysis
Valuation and Reporting
- Calculation and review of actuarial reserves on a quarterly basis
- Any other ad-hoc reporting required by the supervising Manager
Modelling & Actuarial Controls
- Modelling of actuarial processes, such as expense analyses, burning cost calculations, profitability investigations and other ad-hoc models
- Develop and strengthen controls in all areas of work to improve auditability and accuracy of results
Actuarial Process Efficiency
- Actively seek areas where existing and new actuarial processes can be improved
- This can be through novel solutions or application and development of software
Experience Analysis & Assumption Testing
- Perform and guide experience analyses through financial calculations
- Test assumptions used in actuarial modelling to understand the robustness of calculations
Actuarial Committee Secretariat
- Engage in and report to Actuarial Committee at its regular meetings
- Develop actuarial reports on current status quo of actuarial function and work performed
Actuarial Risk Management
- Support the development of models to quantify the risk profile of the organization.
- Support the company through application of the risk management control cycle in actuarial space
- Develop risk appetite statements
- Review current experience against risk appetite statements
Regulatory and Tax Reporting
- Calculation and population of capital requirement templates to the regulator
- Calculation of actuarial quantities for statutory purposes to enable tax calculations
Asset-Liability, Investment & Capital Management
- Tracking exposure to inflation, interest, currency and liquidity mismatches
- Review investments and its impact on capital availability
- Assist in capital allocation operations
Actuarial Team Leadership
- Manage and develop Actuarial staff Undertake any other duties that may be assigned by the Supervisor
JOB REQUIREMENTS
- A minimum of a 1st degree in Actuarial Science, Mathematics or other Quantitative Field
- Full (Fellowship) or Partial (Associateship) qualification with one of the major (Property & Casualty) actuarial bodies
- Minimum of 8 years working experience in a generalist or specialist actuarial role in a financial services environment
- People management and team development skills
- Have excellent IT skills and be familiar with Actuarial software packages
- Excellent understanding and use of data for management decision making will be desirable • Excellent oral and written communication skills
- Focused and structured in approach, effectively managing multiple tasks to meet deadlines.
- Creative, confident and professional person with high levels of drive and integrity