Head of Model Development

Recruiter:

Network Recruitment

Job Ref:

NFP016731/KM

Date posted:

Wednesday, April 8, 2026

Location:

Pretoria, South Africa

SUMMARY:

A leading financial services organisation is seeking an experienced Head of Model Development to lead and enhance actuarial modelling capabilities, ensuring robust financial reporting, governance, and decisionâmaking support.

POSITION INFO:

You will be responsible for the development, maintenance, and governance of actuarial models, providing expert input into actuarial methodology and supporting key financial and risk management processes across the business.

Key Responsibilities:

Act as the actuarial modelling subject matter expert, with extensive use of Prophet (conventional, unitâlinked, and summary libraries)
Ensure the accurate calculation of key financial metrics, including:
- IFRS 17 (fulfilment cash flows, risk adjustment, and contractual service margin)
- Embedded Value (ANW, PVFP, and cost of capital)
- SAM (technical provisions and life nonâmarket risk SCRs)
Manage relationships with thirdâparty Prophet software providers, including:
- Attending vendor meetings
- Validating cloud usage and billing
- Optimising Prophet licence allocation and ownership
- Acting as the first point of contact for internal Prophetârelated queries
Provide analytics and financial reporting support, including:
- Analysis of surplus, embedded value, and basic own funds
- Preparation of management information for executive and committee reporting
Perform firstâline quality assurance, ensuring the accuracy of model outputs and maintaining a strong control environment
Oversee model governance, ensuring comprehensive documentation and appropriate signâoff for model changes
Support talent development, with potential peopleâmanagement responsibility for 1–2 direct reports

Minimum Requirements:

Qualified Actuary (all exams passed) and registered as a Fellow. (Candidates with 4+ years’ valuations experience will also be considered.)
Advanced Prophet expertise is essential.
Strong analytical capability with the ability to translate complex outputs into meaningful insights.
Excellent communication and stakeholderâmanagement skills.

Why Join?:

This role offers the opportunity to play a critical leadership role within a technically sophisticated actuarial environment, influencing strategic decisionâmaking and shaping model development standards.

Apply now!

For more exciting Actuarial & Analytics vacancies, please visit:
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I also specialize in recruiting:

Actuarial (Life, ShortâTerm, Pensions, Health, Quant)
Data Science & Advanced Analytics
Pricing & Product Modelling
Market, Credit & Quantitative Risk
Machine Learning & AI Specialists

If you have not received a response within two weeks, please consider your application unsuccessful. Your profile will remain on our database for future opportunities.

For more information, contact:
Kholo Mongalo
Recruitment Researcher – Actuarial & Analytics
Connect with me on LinkedIn:

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