Johannesburg and Cape Town
Provide strategic support to the business and oversee the consolidation of the financial and risk reporting.
This role offers exposure to an interesting combination of technical and business issues.
It also provides the opportunity to obtain and provide insights into a range of products, including annuities, investment and group protection offerings.
The successful candidate will oversee a large actuarial team who will assist the business in consolidating financial results and various risk exposures, linking metrics and extracting insights for business consideration.
The individual will work closely with the CFO, Group Actuary, Head of Actuarial Function and various product reporting teams to ensure that all reporting requirements are well understood, and deliveries met and will be a key interface with business, finance and other specialised areas.
The role therefore requires a balanced individual with sound technical knowledge, an aptitude for strategic thinking and the ability to lead a large actuarial team.
The individual will need to manage and coach team members and collaborate effectively with various teams and stakeholders at all levels.
As reporting is required to meet the needs of various stakeholders, there will be a strong focus on stakeholder engagement and ensuring processes are robust, efficient and fit for purpose, with appropriate controls.
The role will also entail participation in various projects, which will present opportunities to develop strategic and operational skills.
The team is based in Sandton; however, we are open to consider alternative locations.
- Responsible for managing the relationships between the Corporate actuarial team and key clients across the group and segment (Corporate Exco, Group Actuary, Head of Actuarial Function, Planning and Business Insights, Balance Sheet Management).
Valuation and financial reporting
- Responsible for accuracy and quality of the consolidated financial reporting results, including IFRS/ FSV/ EV/ SAM/ internal risk metrics/ etc. for submission to the Central Actuarial team, Group Finance and Head of Actuarial Function, as appropriate.
- Accountable for compliance with agreed policy/ methodology/ principles, professional guidance and legislation.
- Proactively provides analysis of results and recommends appropriate action back to business segment and other stakeholders.
- Responsible for accuracy and completeness of the actuarial portions of regulatory reporting (SAM reporting feeding into SAM Group reporting).
Business support, forecasts and monthly reporting
- Use actuarial knowledge and skills to provide strategic support to the business on various projects.
- Oversee the provision of actuarial input and insights into the Corporate Segment business plan.
- Oversee the production of accurate consolidated monthly reporting for actuarial metrics including detailed analysis of results and recommendations as appropriate.
Process ownership and key controls
- Responsible for continuous improvement of actuarial processes and the quality of information produced, in liaison with colleagues from the segments.
- Responsible for the sign off of periodic, internal confirmations on the effectiveness of key controls.
- Accountable for the operation of key controls relevant to the generation of actuarial information reported by the segment and to the financial controller.
- Ensure that the process is well managed and that appropriate proposals are produced for approval by the Policyholder Investment Committee and Board.
Capital and risk management
- Ensure that standard Capital Management Committee deliveries are produced correctly and on time and the necessary stakeholders are given appropriate communication during the process.
- Review relevant business risks on a regular basis and provide monthly updates on Key Risk Indicators.
IFRS 17 development and implementation
- Take ownership and provide guidance on various elements of IFRS 17 development for the Corporate business including:
- Data and infrastructure development
- Policy and methodology formulation
- Transition calculations
- Actuarial modelling support
- Actuarial and finance process enablement
- Business impact analysis
Management and Leadership
- Manage a team of approximately 19 actuarial staff, to ensure effective delivery and performance.
- Play a key leadership and mentorship role across the actuarial community in the group.
Qualifications, Experience, Knowledge and Skills
- Qualified actuary
- Minimum of 10 years actuarial experience, of which at least 4 years should be a post-qualification
- Previous technical (IFRS, FSV, MCEV and Solvency II/ SAM) and / or cross-functional co-ordination and / or client relationship management experience would be a strong advantage. l20.8o