Lead Actuarial Analyst

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.

Qualifications

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.