Reinsurance/Business Development Actuary/Cape Town

Location: Johannesburg, South Africa
Salary: market related
Recruiter: Rooftop Recruitment
Job Ref: Reinsurance/Business..
Summary: Reinsurance/Business Development Actuary/Cape Town

 

 

Job Description

Reinsurance/Business Development Actuary/Cape Town

 

Assist with the development and implementation of the reinsurance and business strategy in order for the business to remain competitive in changing environments.

 

This role works closely with Client Solutions, Intermediary Support, Operations, Actuarial, Distribution

 

Qualified Actuary with appropriate experience in life insurance risk products.

Relevant Reinsurance experience will be an advantage ms

Duties & Responsibilities

Reinsurance/Business Development Actuary

 

Cape Town

 

Assist with the development and implementation of the reinsurance and business strategy in order for the business to remain competitive in changing environments.

 

This role works closely with Client Solutions, Intermediary Support, Operations, Actuarial, Distribution and Reinsurance companies.

 

Get involved with other business projects as and when required to add further value to the business.

 

Reinsurance

 

Provide input and produce reinsurance strategy documentation together with business leaders

In depth analysis and understanding of the Reinsurance environment

Providing management information to business stakeholders

Work closely with Client Solutions team to support the business on reinsurance strategy and impact on new products

Liaising with relevant stakeholders in the business and the Actuarial pricing team to guide and support on reinsurance strategy and the implementation thereof

Continuously looking at effective ways to implement the reinsurance strategy. A balance should be struck between value add, simplicity and the necessary risk mitigation actions

Carrying out and support investigations to understand the impact of Reinsurance on the Life Balance sheet

Reinsurance relationship management

Provide input and support for up to date and timeous reinsurance contracting when required

Business

Utilize data analytics to create business insights for the business that will lead to value creation for underlying risk products

Assist with future proofing our solutions by taking into account: changing client behaviour;  legislation;  Fintech and future competition.

Support the product development team in Client Solutions in develop new Risk product solutions and in developing Client and Intermediary Value Proposition’s to enhance the business attractiveness across multiple segments.

Desired Experience & Qualification

Qualifications and experience:

Qualified Actuary with appropriate experience in life insurance risk products.

Relevant Reinsurance experience will be an advantage

_______________________________________________________________________

 

 

Senior Actuarial Supervisor/ Sandton, Johannesburg

Manage a team of 6 actuarial staff and play a leading role for the company’s dynamic and growing life insurance business in Namibia as the Actuarial Valuations Manager. 

This work will include:

Financial reporting (Financial Soundness Valuation, IFRS profit and Market-Consistent Embedded Values) determining capital requirements (including SAM requirements) maintaining valuation models and supporting robust forecasting business planning and monthly reporting for this business.

This includes reporting in preparation for the IFRS17 regime. 

The team works closely with the Africa Executive team, central reporting team and in-country Finance Directors and actuarial teams in producing results that drive decision making to help accomplish the company’s Africa growth strategy. In addition, the team has strong working relationships with the Statutory and Country Actuaries of the various countries. 

Financial Reporting:

Ensure that valuation results are produced accurately, within agreed deadlines and with appropriate supporting commentary.

Responsibility will include editing necessary Board, Audit Committee and internal reports.

Responsibility may include development of reporting frameworks, consulting and specific project work.

 Capital Management:

Ensure that capital calculations (Statutory, Internal, SAM and Economic Capital) are produced accurately and on time.

 Bonus Declarations:

Produce bonus recommendation documents and ensure that underlying calculations are accurate.

 Business Planning / Forecasting:

Support the team that provides forecasting and ongoing monitoring (outside of valuation periods) of the financial impacts of the strategy.

Business Support:

Support businesses in maximising growth within a robust risk framework.

 Investment Mandates:

The role may involve the opportunity to become involved in the revision of policyholder investment mandates in line with best practice and changing regulations

 Management of actuarial staff:

Manage a team of five actuarial staff members including carrying out performance appraisals and responsibility for the team’s scorecards, resource allocation and development plans

 General

Ensure that all actuarial processes are performed as efficiently as possible, finding and delivering continuous process improvement and standardisation opportunities

Ensuring processes are performed with appropriate controls.

Desired Experience & Qualification

 

 

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