Manager: Actuarial Claims Administration

SUMMARY:
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POSITION INFO:

Minimum Requirements:

• NQF 7 (Bachelor’s Degree or Advanced Diploma) related qualification in Actuarial Science/Mathematics.
• Qualified Associate/Fellow Actuary of (ASSA /IFoA /SoA /CAS) or any other internationally recognized Actuarial Board).
• NQF8 (Postgraduate Diploma /Honours Degree/ Professional Qualification Degree) advantageous.
• Relevant 6 - 8 years’ experience in Actuarial environment with experience on a manager/supervisory level.
• At least 2 years in loss of income damages quantification.

Competencies:

• Independent and creative in analysing business results, develop appropriate solutions or alternatives to problems and effectively communicating related issues and results to management.
• Result oriented and ability to work under pressure.
• Work well in team-oriented, collaborative environment.
• Excellent analytical, problem solving and data manipulation skills.
• Strategic capability and leadership
• Business and financial acumen.
• Brand and stakeholder orientation
• Network and alliances
• Talent management.
• Change management.
• Excellent verbal and written communication skills.
• Strong Microsoft Excel, Access, and MS Word skills.
• Complex problem identification, solving and decision making.
• Sound actuarial judgment.
• Strong technical background in reserving/valuations.
• Strong planning and time management of both own and direct team`s work
• Strong focus on executing plans and delivering results.
• Pro-active approach and keen to take ownership of work.

Key performance Areas:

• Ensure that the actuarial results are correctly interpreted and applied by internal and external users.
• Research on state-of-the-art modelling and calculation techniques and methodologies.
• Implement new and state of art calculation techniques and methodologies.
• Participate in the review and update underlying calculation assumptions and inputs to ensure relevance and appropriateness.
• Research on factors and statistics that are more relevant for accurate determination of loss of income compensation.
• Provide support to the claims administration team with developing reporting matrices and identifying risk management strategies that can be used in managing claims risks.
• Provide support to the claims administration team with modelling and establishing forecasts for claims volumes and settlements to monitor and improve operational efficiencies.
• Assist with interpretation of legal, medical and other information relevant for calculation of loss of Income compensation.
• Participate in the development and assessment of models for loss of income compensation calculations and reports using appropriate techniques to ensure that the data is accurate, and model processes are effective, efficient, high quality, well documented and verifiable.
• Ensure proper planning and allocation of consistent workload within the unit.
• Monitor performance of teams against planned activities.
• Identify and ensure sufficient training and development of employees within the unit.
• Ensure that good employee’s relations are maintained.
• Provide ongoing support and coaching for employees.
• Ensure that all employees have entered into performance contracts/agreements within the unit.
• Data manipulation to test and calibrate calculation models.
• Setting of calculation assumptions such as mortality rates, interest rates, inflation, contingencies, earnings progression, taxation etc.
• Review on loss of Income calculations done by colleagues or other experts and external actuarial service providers
• Review of research on loss of Income calculations and reports done by other experts and external actuarial service providers
• Participate in the development of models to forecast the number of accidents and claims.
• Provide results in statistical and graphical form to provide information for monthly, quarterly, half-yearly and annual management reporting.
• Provide investigation support on various aspects of the loss of income calculation inputs including, distributions of income by age group, geographical location, employment sectors, etc.
• Investigate the potential impact of various assumptions underlying loss of income calculations such as discount rates, mortality and morbidity rates, contingencies, earnings progression, inflation, taxation, remarriage, inheritance and accelerated benefits, etc.
• Manage actuarial department risks.
• Assist with reviewing and monitoring risk mitigating tasks/measures.
• Identify the types of risks associated with actuarial
• Understand the types of connection between risks and how they are related to the organisation.
• Manage the development of strategy
• Control the risk on an ongoing basis.
• Develop and maintain ethical relationships with internal and external stakeholder.

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