With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
This is a non-life insurance specific role within the Corporate Actuarial team. The candidate will manage a team of actuarial analysts supporting the Head: Corporate Actuarial with capital management and regulatory reporting. Essential Degree in Actuarial Science (Honours degree would be advantageous), 5 yrs actuarial work exp within the non-life insurance industry. Newly or nearly qualified actuary with good exam progression towards qualifying as a Fellow actuary. Good understanding of the SAM Financial Soundness Standards for Insurers (FSIs) and experience in performing capital calculations, Experience in non-life reserving techniques and IFRS 17 reporting would be advantageous, Experience in extracting and transforming data and designing automated processes, Programming in SQL, Python or VBA would be advantageous
Own Risk and Solvency Management (ORSA)
Manage and coordinate the ORSA process for Absa’ non-life insurance entities
Operate the ORSA projection model
Set and monitor quantitative risk appetite metrics
Perform stress and scenario testing as part of the Company’s ORSA processes
Maintain the ORSA model and identify areas of improvement
Communication of results to key stakeholders
People Responsibilities
Manage a small team of actuarial analysts
Manage deliverables and timelines in own team
Education and experience required
A Degree in Actuarial Science (Honours degree would be advantageous)
At least 5 years actuarial work experience within the non-life insurance industry
Newly or nearly qualified actuary with good exam progression towards qualifying as a Fellow actuary
Good understanding of the SAM Financial Soundness Standards for Insurers (FSIs) and experience in performing capital calculations
Experience in non-life reserving techniques and IFRS 17 reporting would be advantageous
Experience in extracting and transforming data and designing automated processes
Programming in SQL, Python or VBA would be advantageous
Knowledge and skills
Strong analytical skills with the ability to take on complex problems
Good understanding of insurance policy administration and financial systems
Comfortable adapting and responding to change
Excellent written and verbal communication skills
Excellent time management skills with the ability to prioritise deliverables and manage stakeholder expectations
High degree of motivation and initiative
Education
Bachelor's Degree: Actuarial Science
Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.
Absa Bank Limited reserves the right not to make an appointment to the post as advertised
Absa Group Limited (Absa) has forged a new way of getting things done, driven by bravery and passion, with the readiness to realise growth on the African continent and beyond.
We’re a truly African brand, inspired by the people we serve in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania, Uganda, and Zambia. We also have representative offices in China, Namibia, Nigeria and the United States, as well as securities entities in the United Kingdom and the United States, along with technology support colleagues in the Czech Republic.
