(1580) Lead Actuarial Analyst

Brief description The purpose of this position is to realise the responsibilities of the Prudential Authority (PA) in respect of the supervision and regulation of actuarial risks in insurance entities. One position is for life actuarial and one position for non-life actuarial and will be involved in operational duties associated with on- and off-site analysis and will be part of a team of risk specialists in the PA responsible for providing specialist knowledge, skills and experience in the life and non-life actuarial risk management area. Detailed description The successful candidate will be responsible for the following key performance areas: Lead, develop and provide specialist actuarial support with regards to technical provisions reviews. Lead, develop and provide specialist actuarial support with regards to further refinements of the SAM framework. Provide actuarial support concerning both solo and group entities, this includes but is not limited to the following: scrutinising the financial soundness of life and non-life insurers; participation in on-site visits to insurers; and the consideration of internal model approvals. Scrutinise and check the compliance of submissions by insurers. Assist in maintaining the statutory returns required by regulated entities. Participate in projects initiated within the PA and industry forums. Develop and test systems and procedures for internal use. Participate in and execute projects initiated within industry forums. Transfer knowledge and skills to stakeholders, both inside and outside of the PA.

Job requirements To be considered for this position, candidates must be in possession of: Be a Fellow of the Actuarial Society of South Africa (FASSA); and At least 10 to 12 years experience, which includes at least three years’ relevant post-qualification working experience, in the insurance industry. Job related attributes: good communication (verbal and written) skills; ability to perform under pressure without compromising quality; ability to work independently and within a team in a leadership role; good interpersonal skills; proactive problem-solving skills; Job related skills and knowledge: Solvency Assessment and Management (SAM) experience; computer literacy (preferably including programming skills); ability to perform and understand technical provisions reserving; ability to understand complex financial models; and ability to deal professionally with internal and external clients. Additional requirements are as follows: knowledge of the Insurance Act 18 of 2017; knowledge of the Prudential Standards; knowledge of IFRS17; knowledge of the risks that insurers take; ability to influence, build and maintain relationships; and reliable own transport as the position requires travel between the PA’s offices in Pretoria and the offices of supervised entities located elsewhere. In line with the SARB’s commitment to diversifying its workforce, preference will be given to suitable candidates from designated groups. People with disabilities are welcome to apply. The SARB offers remuneration and benefits commensurate with the level of the position and in line with the market. The level at which the successful applicant will be appointed will depend on his/her competence and experience.