Description<\/p>\n
\tThe 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.
\n\tThis 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.<\/p>\n
WHAT WILL YOU DO?<\/p>\n
Actuarial Risk Framework Development and Implementation<\/p>\n
\tDevelop and implement actuarial risk management frameworks, policies, and standards
\n\tDesign and implement actuarial risk measurement methodologies and techniques
\n\tEstablish actuarial risk appetite and tolerance levels
\n\tDevelop and maintain actuarial risk models aligned with business strategy
\n\tDevelop and implement actuarial control cycle within the risk management framework
\n\tEnsure compliance with actuarial standards of practice
\n\tProvide actuarial insights to enhance risk management processes
\n\tDevelop actuarial policies and procedures to support risk management objectives<\/p>\n
Actuarial Modelling, Analysis and Reporting<\/p>\n
\tLead the development and validation of actuarial models for risk assessment
\n\tConduct complex actuarial analysis to identify, measure, and monitor risks
\n\tAnalyze data to identify trends, patterns, and emerging risks
\n\tDevelop and enhance actuarial risk reporting frameworks
\n\tPrepare and present comprehensive actuarial risk reports to Executive Committee and Board Risk Committee
\n\tConduct stress testing and scenario analysis on actuarial models
\n\tProvide actuarial risk insights to support business decisions
\n\tReview and validate accuracy of actuarial calculations and reports<\/p>\n
Solvency, Capital Management and Reserving<\/p>\n
\tLead the actuarial components of the ORSA process
\n\tDevelop and implement capital models to assess capital requirements
\n\tMonitor and report on solvency position and capital adequacy
\n\tEnsure appropriate reserving methodologies and assumptions
\n\tLead the review of technical provisions and reserve adequacy
\n\tContribute to the development of reinsurance strategy from an actuarial perspective
\n\tMonitor and report on the impact of business decisions on solvency and capital
\n\tProvide actuarial input into SAM reporting requirements<\/p>\n
Product Development and Pricing Support<\/p>\n
\tProvide actuarial risk oversight for new product development
\n\tReview pricing models and methodologies from a risk perspective
\n\tAnalyze product profitability and risk profile
\n\tAssess the impact of new products on the organization\u2019s risk profile
\n\tEnsure pricing strategies align with risk appetite
\n\tEvaluate product performance against expected outcomes
\n\tProvide actuarial input into product design to optimize risk-reward profile
\n\tCollaborate with business units to develop risk-adjusted pricing strategies<\/p>\n
People Management and Stakeholder Engagement<\/p>\n
\tLead, develop and motivate the actuarial risk team
\n\tEstablish clear performance objectives and development plans
\n\tIdentify and develop talent within the actuarial function
\n\tBuild and maintain relationships with key stakeholders
\n\tCollaborate effectively with other risk functions
\n\tRepresent the actuarial risk function on relevant committees
\n\tEngage with external stakeholders including regulators and industry bodies
\n\tFoster a culture of continuous learning and improvement<\/p>\n
WHAT YOU’LL BRING TO THE TABLE?<\/p>\n
\tNQF Level 8: Honor\u2019s degree in Actuarial Science, Mathematics, Statistics or related field
\n\tMember of Actuarial Society of South Africa (required)
\n\tActuarial Fellowship (required)
\n\tASSA Life Insurance Practicing Certificate (required)
\n\tAdditional Practicing Certificates (advantageous)
\n\tMinimum 8-10 years of actuarial experience in an insurance environment
\n\tAt least 5 years of management experience leading actuarial teams
\n\tDemonstrated experience in actuarial risk management, capital modelling, and reserving
\n\tExperience with IFRS 17 implementation (advantageous)<\/p>\n
go to method of application \u00bb<\/p>\n
Apply via company website ( ) or<\/p>\n
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