SUMMARY:
Head: Actuarial
POSITION INFO:
Head: Corporate Actuarial
Various actuarial positions overseas
Develop and manage a strategy and operating model for the Corporate Actuarial function that provides a strategic and fit-for-purpose actuarial service which contributes to business growth and strategy realisation.
Develop, plan for, implement and take accountability for the strategy and operating model of the Corporate Actuarial Department, partnering with the Executive: Risk & Actuarial in response to the business model and organisation strategy.
Establish an aligned departmental Balanced Scorecard focused on the implementation, measuring and management of the departmental strategy.
Determine the business value chain for the Corporate Actuarial Department and ensure that this value chain is aligned and integrated with the Finance Division value chain.
Coordinate the calculation of technical provisions and capital requirements.
Ensure the appropriateness of the methodologies and underlying models used as well as the assumptions made in the calculation of technical provisions and capital requirements.
Assess the sufficiency and quality of the data used in the calculation of technical provisions and capital requirements, including undertaking an analysis of estimates against experience.
Inform the Board and EXCO of the reliability and adequacy of the calculation of technical provisions and capital requirements.
Provide an opinion on the overall underwriting policy and reinsurance arrangements.
Use capital model and other tools to quantify all risk exposures, including operational risk
Own, build, parameterise, refine and validate the company’s internal capital model
Contribute to the effective implementation of the risk-management system, in particular with respect to the risk modelling underlying the calculation of the capital requirements.
Provide such reports to the regulator as may be required from time to time and interact with the regulator on relevant matters.
Provide required oversight in areas of the business requiring actuarial sign-off (including pricing, product development, reinsurance, proposed transactions and others)
Contribute to the formulation of business strategy through the use of the capital model in decision-making, risk quantification, evaluating strategic alternatives, input into business planning and similar applications.
Participate in the relevant Group structures as required.
10 plus years relevant experience
Bachelor of Science Honours (BSc Hons): Actuarial Science (Required), Fellow Of Actuarial Society Of South Africa (FASSA): Actuarial Science
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