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Open nowPosted 13 days ago

(1580) Lead Actuarial Analyst

South African Reserve Bank18 open roles

Where
Pretoria, South Africa
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Your applicationOpen now(1580) Lead Actuarial AnalystSouth African Reserve Bank · Pretoria, South Africa

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The clock on this job

Early applications get read.

13.7% of postings close within 7 days. Measured by our own scanner across the market. South African Reserve Bank postings stay open a median of 14 days.

Share of postings closed within
  1. 2.3%1 day
  2. 4.8%3 days
  3. 13.7%7 days
  4. 22.1%14 days
  5. 37.6%30 days
  6. 59.1%60 days
This job: posted 13 days ago

South African Reserve Bank median: 14 days open

The posting

Job Description

Brief description

The purpose of this position is to realise the responsibilities of the Prudential Authority (PA) in respect of the supervision and regulation of actuarial risks in insurance entities. One position is for life actuarial and one position for non-life actuarial and will be involved in operational duties associated with on- and off-site analysis and will be part of a team of risk specialists in the PA responsible for providing specialist knowledge, skills and experience in the life and non-life actuarial risk management area.

Detailed description

The successful candidate will be responsible for the following key performance areas:

  • Lead, develop and provide specialist actuarial support with regards to technical provisions reviews.
  • Lead, develop and provide specialist actuarial support with regards to further refinements of the SAM framework.
  • Provide actuarial support concerning both solo and group entities, this includes but is not limited to the following: scrutinising the financial soundness of life and non-life insurers; participation in on-site visits to insurers; and the consideration of internal model approvals.
  • Scrutinise and check the compliance of submissions by insurers.
  • Assist in maintaining the statutory returns required by regulated entities.
  • Participate in projects initiated within the PA and industry forums.
  • Develop and test systems and procedures for internal use.
  • Participate in and execute projects initiated within industry forums.
  • Transfer knowledge and skills to stakeholders, both inside and outside of the PA.

Qualifications

Job requirements

To be considered for this position, candidates must be in possession of:

  • Be a Fellow of the Actuarial Society of South Africa (FASSA); and
  • At least 10 to 12 years experience, which includes at least three years’ relevant post-qualification working experience, in the insurance industry.

Job related attributes:

  • good communication (verbal and written) skills;
  • ability to perform under pressure without compromising quality;
  • ability to work independently and within a team in a leadership role;
  • good interpersonal skills;
  • proactive problem-solving skills;

Job related skills and knowledge:

  • Solvency Assessment and Management (SAM) experience;
  • computer literacy (preferably including programming skills);
  • ability to perform and understand technical provisions reserving;
  • ability to understand complex financial models; and
  • ability to deal professionally with internal and external clients.

Additional requirements are as follows:

  • knowledge of the Insurance Act 18 of 2017;
  • knowledge of the Prudential Standards;
  • knowledge of IFRS17;
  • knowledge of the risks that insurers take;
  • ability to influence, build and maintain relationships; and
  • reliable own transport as the position requires travel between the PA’s offices in Pretoria and the offices of supervised entities located elsewhere.

In line with the SARB’s commitment to diversifying its workforce, preference will be given to suitable candidates from designated groups. People with disabilities are welcome to apply.

The SARB offers remuneration and benefits commensurate with the level of the position and in line with the market. The level at which the successful applicant will be appointed will depend on his/her competence and experience.

About Us

About SARB

Primary mandate of the SARB

Section 224 of the Constitution of South Africa states the mandate of the SARB as follows:

The primary object of the South African Reserve Bank is to protect the value of the currency in the interest of balanced and sustainable economic growth in the Republic.

The South African Reserve Bank, in support of its primary objective, must perform its functions independently and without fear, favour or prejudice.

WHAT WE DO

Monetary Policy

The Constitution gives the SARB the mandate to protect the value of the rand. We use interest rates to keep inflation low and steady.

Financial Stability

The SARB has a mandate to protect and enhance financial stability. We identify and mitigate systemic risks that might disrupt the financial system.

Prudential Regulation

The Prudential Authority regulates financial institutions and market infrastructures to promote and enhance their safety and soundness, and support financial stability.

Financial Markets

Open market operations are the main tool we use to implement monetary policy. We manage South Africa’s gold and foreign exchange reserves.

Financial Surveillance

The SARB is responsible for regulating cross-border transactions, preventing the abuse of the financial system and supporting the regulation of financial institutions.

Payments and Settlements

The SARB is responsible for ensuring the safety and soundness of the national payment system, which is the backbone of South Africa’s modern financial system.

Statistics

The SARB provides important economic and financial statistics that present an overview of the economic situation in South Africa.

Research

Research conducted by the SARB focuses on economics, financial stability, banking and emerging trends in finance. Our research supports policy decision-making.

Banknotes and Coin

The SARB has the sole right to make, issue and destroy banknotes and coin in South Africa.

Prudential Authority (PA)

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