Job Title: Statutory Actuary
Category: Actuarial
Location: Cape Town
Salary: Market-Related
Job Description:
Our client, a prominent player in the financial services industry, is looking for a skilled and experienced Statutory Actuary to join their dynamic team. This key position provides an excellent opportunity for a qualified actuary to work closely with senior management and contribute to the organization's success. The successful candidate will support the Group Head of Actuarial Function, with key responsibilities in actuarial reporting, product management, and model governance, playing a pivotal role in enhancing the companys financial and operational performance.
The Statutory Actuary will assist in preparing and presenting comprehensive reports to senior management and board subcommittees, including statutory reports. They will lead the development, implementation, and monitoring of product development strategies, pricing structures, and product management processes across the company. Additionally, the role will focus on establishing and managing robust model governance frameworks to ensure the integrity and compliance of actuarial models.
The successful candidate will also oversee and deliver ad-hoc actuarial projects, focusing on areas such as product management, valuation bases, solvency assessments, and financial reporting. Collaboration with the Head of Risk and Capital Analytics will be essential in projects involving required capital, stress testing, and solvency projections.
This role is an excellent opportunity for an experienced actuary to drive critical initiatives that directly impact the organizations financial reporting and risk management strategies. The Statutory Actuary will also provide valuable insights and reviews on various actuarial matters within the group.
Key Responsibilities:
- Assist the Head of Actuarial Function in preparing comprehensive reports for senior management and board subcommittees, including statutory reports.
- Lead the development, implementation, and monitoring of product development, pricing strategies, and product management processes.
- Establish and manage model governance frameworks to ensure accurate and compliant actuarial models.
- Oversee and deliver ad-hoc projects, focusing on product management, valuation bases, solvency assessments, and financial reporting.
- Collaborate with the Head of Risk and Capital Analytics on required capital, stress testing, and solvency projections.
- Provide reviews and insights on actuarial matters across the organization.
Requirements:
- Qualified Actuary (Fellow or Associate), registered with the Actuarial Society of South Africa (FASSA/AMASSA) or a similar recognized professional body.
- Minimum of 5 years of post-qualification experience, with significant exposure to financial reporting.
- Comprehensive knowledge of long-term insurance products and product management is advantageous.
- Proficiency in financial reporting standards such as IFRS, Embedded Value (EV), and Solvency Assessment and Management (SAM).
Competencies:
- Strong communication, presentation, and report-writing skills.
- Ability to build effective relationships across business functions and with senior management.
- Exceptional project and process management skills.
- Meticulous attention to detail and technical excellence in actuarial work.
- Resilience under pressure, with the ability to manage competing demands and deadlines.
- Self-motivated and proactive with the ability to work independently.
- Strong critical thinking skills and the ability to constructively challenge ideas and assumptions
