Senior Actuary – IFRS17
Responsible to drive compliance with IFRS 17 in the Corporate Actuarial team.
Provide actuarial technical support and develop models to calculate IFRS17 results.
Provide actuarial technical support and coach/mentor junior analysts within the Actuarial team.
Use statistical models to analyze data and calculate the actuarial metrics.
- Undertake strategic and tactical financial analysis, modeling, and evaluation to support business leaders in their decision making.
- Develop, maintain and implement actuarial models and processes.
- Monitor models to ensure model performance and that they are communicated back to the business.
- Collaborate with internal (Actuarial) and external (Business) stakeholders to find out their needs/issues/concerns
- Do proactive research and identify opportunities prior to meetings with Business.
- Provide sound financial and technical advice to business.
- Plan and manage the delivery of an audit program in a single discipline, ensuring that it addresses identified risk areas.
- Ensure compliance with international accounting standards.
Model deployment and testing
- Plan and deliver the group IFRS 17 project requirements and manage the team on a day-to-day basis to meet project timelines to ensure quality.
- Analyze the results, to ensure the model is performing as expected and producing the results required.
- Ensure monitoring processes are in place to measure the performance of the model for financial reporting.
- Manage major projects in line with overall project management strategy.
- Meet project deadlines of the group IFRS 17 project team.
- Drive priorities for the project.
- Provide specialized training or coaching to others throughout the organization in area of expertise.
- Enhance the capability of the team members and existing models to enhance technical capability.
- Mentoring and coaching of junior staff on a technical and professional front.
Insights and Reporting
- Lead execution of complex reports, identifying and interpreting complex patterns and trends, and translating those insights into actionable recommendations.
- Ensure status updates are communicated to the relevant stakeholders and build and translate the monitoring results so they can be understood by Business.
- Review of results on a regular basis and ready to be presented to the Executives in business.
Data Collection & Analysis
- Use data from a wide range of sources to analyze key themes and identify possible impacts on the business.
- Extract data used for actuarial models.
Improvement / Innovation
- Identify shortcomings in existing business practices, then suggest and implement improvements while developing and delivering projects or a work stream within the organization''s change management program.
- Continuous development/research of modelling techniques and feature engineering to improve model estimates.
Leadership and Direction
- Monitor the performance of the team
Qualifications, Experience, Knowledge and Skills
- Bachelors / Honours degree in Actuarial Science or similar (Essential) and making good progress in actuarial exams.
- Specialised in Life technical subjects (Essential)
- Fellow of the Actuarial Society of South Africa (Advantageous)
- 5 or more years’ experience within the long-term insurance industry (Essential)
- Prophet experience (Essential)
- Experience in IFRS 17 model building (Advantageous)
- 2 or more years’ experience of supervising and directing people and other resources to achieve specific end results within limited timeframes (Advantageous)
- Actuarial and statistical software; Advanced Microsoft Office e15.09t