Senior Corporate Actuarial Analyst | Sandton
Introduction
Provide actuarial technical support and coach/mentor junior analysts within the Short Term Insurance Corporate
Actuarial team. Regularly produce reserve estimates using commonly used reserving methods,
monitor reserve development experience, and assist with quarterly and annual regulatory solvency
reporting.
Job Specification:
Reserving and Regulatory Reporting
Extract claims data on a monthly basis to monitor reserve development and perform monitoring investigations to explain deviations. With trends observed, set assumptions and calculate reserves on a semi-annual basis that will be presented to Business, Audit and other external parties for approval. Validate financial information received and transform it for the solvency models. Using financial information and other extracted data, calculate solvency position and populate regulatory returns. Review changes in data used in solvency models to explain changes in solvency results.
Report and present on solvency results to internal and external stakeholders.
Stakeholder Engagement
Collaborate with internal (Actuarial) and external (Business) stakeholders. Keep stakeholders
informed and up to date with project/analysis delivery and provide clear and concise feedback to
stakeholders. Maintain measurable service levels on business requests and provide feedback that
speaks to the business issue observed. Be on time and prepared for meetings with Business.
Data Collection & Analysis
Use data from a wide range of sources to analyse key themes and identify possible impacts on the
business. Extract and verify data (largely using SAS ) used for reserving and regulatory reporting
work. Build data specifications or templates where data may be needed from external parties.
Data/information to be reconciled against credible data sources (for example financials) to ensure
the data is complete and accurate. Ensure definitions and assumptions are aligned to the problem
statement..
Actuarial Modelling
Develop, maintain and implement actuarial models and processes. Models to be fit for purpose and
able to estimate the reality accurately. Models (and any form of estimation) to be clearly
documented with the scope of use, definitions, data, and assumptions made. Regularly monitor
reserving models to ensure model performance and that they are communicated back to the
business.
Insights and Reporting
Translate the monitoring results so they can be understood by Business.Engage different
stakeholders within the business to explain monitoring results. Provide insights from monitoring to
inform the Business of future modelling .Ensure monitoring is accurate and complete and regularly
validated against credible data sources. Review of results on a regular basis and ready to be
presented to the Management.
Improvement / Innovation
Review existing operations in own area of work and implement innovation processes to generate
new ideas and ensure continuous improvements are delivered. Stay up to date with Business
developments and develop solutions proactively within Business. Ensure data processes are
continuously maintained and kept up to date. Continuous development/research of modelling
techniques and feature engineering to improve model estimates.
Leadership and Direction
Explain the local action plan to support team members in their understanding of what needs to be
done and how this relates to the broader business plan and the organization & strategy, mission and
vision; motivate people to achieve local business goals.
Performance Management
Respond to personal objectives and use performance management systems to improve personal
performance. OR Monitor the performance of the team; allocate work and review completion, take
appropriate corrective action to ensure timeliness and quality; contribute to formal individual
performance management and appraisal. Manage the development of pipelines and succession
planning as well as performance scoring and management. This includes the setup of performance
contracts and personal development.
Operational Compliance
Identify, within the team, instances of non-compliance with the organisation/ actuarial policies and
procedures and/ or relevant regulatory codes and codes of conduct, reporting these and escalating
issues appropriately. Maintain standards of integrity and professionalism as set out by the Actuarial
Society of South Africa.
Building Capability
Mentor and coach staff on a technical and professional front. Mentor and coach staff to develop
data analysis, aggregation and cleaning skills and how to develop models and the review thereof.
General Education
Bachelors / Honours degree in Actuarial Science or similar (Essential);
Qualified or making good progression toward Actuarial qualification (Essential)
General Experience
4 or more years actuarial experience within a Short-Term insurance environment (Essential),
preferably in the Corporate Actuarial environment
