This role is responsible for producing IFRS 17 results, supporting reserving work, and improving the actuarial processes that feed these outputs. The role includes maintaining and enhancing the IFRS 17 data and reporting process, ensuring strong governance, and communicating results clearly to stakeholders, including senior management is a key part of this role. Critical objectives and responsibilities Reserving and Reporting Produce IFRS 17 valuations, at levels that are appropriate and fit for purpose for the business, to be used as the basis for relevant international accounting standards purposes which conform to professional requirements. Managing the extraction, processing and reconciling data. This includes further automation of these processes to ensure efficiency and to reduce the risk of errors. Provide support in ensuring actuarial best practice in the determination of technical reserves. Review technical guidelines to recommend financial and statistical assumptions. Support the IFRS 17 business planning process by producing the IFRS 17 projections, assumptions and model outputs needed for planning. Support ORSA with scenario testing, stress testing, and liability projections. Business Support Manage the preparation of reports for submission to senior management, the audit committee and the regulator. Take charge of automation projects within the IFRS17 team – automating repetitive functions to speed up the process and minimise error. Controls Comply with data governance and controls framework. Complete control documentation required for processes. Responsible for relevant Technical Actuarial Review Forums. Support the Senior Manager in performing their oversight functions. Stakeholder Engagement Develop and maintain strong working relationships with the various stakeholders within CGIC. Manage effective customer service and relations to deliver customer service satisfaction Maintain service, quality and desired outputs within a specific functional process through ensuring compliance to tactical policies, procedures and standards. Resolve escalated queries and provide feedback to stakeholders on matters resolved. Maintain effective people practices Align own behaviour with the organisation culture and values. Share and transfer product, process and systems knowledge to colleagues. Collaborate and work with the team members to ensure required service levels are delivered. Actively participate in the team to ensure functional balanced scorecard objectives are achieved. Actively share information with other team members regarding successes, issues, trends and ideas. Ensure achievement of own performance objectives. Actively participate in own professional development and career path. Identify potential inter-departmental problems and escalate them to higher levels. Engage regularly in team or group problem-solving. Ensure effective cost control and governance compliance Operate within agreed mandates as documented in the business rules. Ensure adherence to organisational policies, practices and procedures. Identify and recommend areas / ways to improve processes. Financial and corporate governance to ensure cost efficiency Comply with corporate governance policies, procedures and standards. Operate within agreed mandates. Experience, knowledge & skills required The role will suit technically minded individuals, ideally with in-depth actuarial knowledge and an ability to explain and reconcile different results. The role will require a strong ability to apply commercial and innovative thinking, including around automation of actuarial reporting processes. We’d prefer that repetitive work is automated to have time to focus on business matters with deep commercial outcomes. Experience with implementing change and an ability to engage with senior stakeholders will be required. Relevant bachelor’s degree in Actuarial Science Strong actuarial exam progress / nearly qualified actuary, or at least 2-5 years’ experience in General Insurance Strong technical and problem-solving skills A strong sense of accountability Ability to work under pressure Technical Provisions / Reserving/ IFRS 17 exposure preferred R, ResQ, VBA, SQL or Python experience is highly advantageous Experience and exposure to GMM and PAA modelling would be beneficial An interest in learning new things and exploring alternative ways of completing tasks An interest in contributing to automation and further interest in AI is preferred. #J-18808-Ljbffr
Actuarial Analyst (Ifrs 17 & Reserving)
OLD MUTUAL INSURE
johannesburg, johannesburg
Published 2 days ago
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