Rand Mutual – RMA
Description
The Head: Actuarial Risk Management will be responsible for leading the actuarial risk function within the organization, reporting directly to the Chief Risk Officer. The incumbent will develop and implement actuarial risk frameworks, methodologies, and models to identify, measure, and monitor all actuarial-related risks.
This role is critical in ensuring that the organization maintains appropriate reserves, meets solvency requirements, and manages risk within defined appetites while supporting product development and pricing strategies.
WHAT WILL YOU DO?
Actuarial Risk Framework Development and Implementation
Develop and implement actuarial risk management frameworks, policies, and standards
Design and implement actuarial risk measurement methodologies and techniques
Establish actuarial risk appetite and tolerance levels
Develop and maintain actuarial risk models aligned with business strategy
Develop and implement actuarial control cycle within the risk management framework
Ensure compliance with actuarial standards of practice
Provide actuarial insights to enhance risk management processes
Develop actuarial policies and procedures to support risk management objectives
Actuarial Modelling, Analysis and Reporting
Lead the development and validation of actuarial models for risk assessment
Conduct complex actuarial analysis to identify, measure, and monitor risks
Analyze data to identify trends, patterns, and emerging risks
Develop and enhance actuarial risk reporting frameworks
Prepare and present comprehensive actuarial risk reports to Executive Committee and Board Risk Committee
Conduct stress testing and scenario analysis on actuarial models
Provide actuarial risk insights to support business decisions
Review and validate accuracy of actuarial calculations and reports
Solvency, Capital Management and Reserving
Lead the actuarial components of the ORSA process
Develop and implement capital models to assess capital requirements
Monitor and report on solvency position and capital adequacy
Ensure appropriate reserving methodologies and assumptions
Lead the review of technical provisions and reserve adequacy
Contribute to the development of reinsurance strategy from an actuarial perspective
Monitor and report on the impact of business decisions on solvency and capital
Provide actuarial input into SAM reporting requirements
Product Development and Pricing Support
Provide actuarial risk oversight for new product development
Review pricing models and methodologies from a risk perspective
Analyze product profitability and risk profile
Assess the impact of new products on the organization’s risk profile
Ensure pricing strategies align with risk appetite
Evaluate product performance against expected outcomes
Provide actuarial input into product design to optimize risk-reward profile
Collaborate with business units to develop risk-adjusted pricing strategies
People Management and Stakeholder Engagement
Lead, develop and motivate the actuarial risk team
Establish clear performance objectives and development plans
Identify and develop talent within the actuarial function
Build and maintain relationships with key stakeholders
Collaborate effectively with other risk functions
Represent the actuarial risk function on relevant committees
Engage with external stakeholders including regulators and industry bodies
Foster a culture of continuous learning and improvement
WHAT YOU’LL BRING TO THE TABLE?
NQF Level 8: Honor’s degree in Actuarial Science, Mathematics, Statistics or related field
Member of Actuarial Society of South Africa (required)
Actuarial Fellowship (required)
ASSA Life Insurance Practicing Certificate (required)
Additional Practicing Certificates (advantageous)
Minimum 8-10 years of actuarial experience in an insurance environment
At least 5 years of management experience leading actuarial teams
Demonstrated experience in actuarial risk management, capital modelling, and reserving
Experience with IFRS 17 implementation (advantageous)
go to method of application »
Apply via company website ( ) or