Who are we?
MiWay is a direct financial services company. We are passionate about service excellence, convenience and offering our clients superior value products. Our Vision is to be a world-class direct financial services business that offers a complete array of services under one convenient umbrella – all managed online. We are positive that with the right people on board, we will continue to grow and give our clients the freedom to do things their way – free from worry and most importantly at peace with all the “what-ifs” of the world. Company values that every employee subscribes to are: Energy, Freedom, Accountability and Attitude. The ideal candidate is one who has the courage to be bold and subscribes to MiWay’s core values! Do you have a positive attitude, love a challenge, treat your colleagues with respect and look for solutions, not problems? If yes, then MiWay is the place for you!
The corporate actuarial function performs its duties as set out in the FRC charter, which includes technical provisions, capital requirements, asset allocation, reinsurance arrangements and compliance with related regulatory reporting requirements.
The primary deliverables and responsibilities of this role include:
- Capital modelling: Derive the SAM solvency numbers. Ensuring the appropriateness of the methodologies and underlying models used as well as the assumptions made in the calculation of the capital requirements. Proposing dividend declarations. Regularly reviewing the actuarial projections.
- Reserving: Assess the technical provisions of MiWay. This includes data sourcing, verifying data, processes and results as well as investigating anomalies.
- Conduct the MiWay own risk and solvency assessment (ORSA) process and produce the ORSA report.
- Lead with the internal and external audit for actuarial matters.
- Assess the adequacy and appropriateness of MiWay’s reinsurance program and reinsurance renewals.
- Monitor MiWay’s performance with respect to its financial risk appetite criteria.
- Support role with the approval process of product amendments and new products.
- IFRS17 enhancements on actuarial matters.
- Mentor and manage the corporate actuarial team members.
- Good progress with actuarial exams with the candidate working towards an AMASSA / FASSA qualification.
- Short term insurance experience, especially in the capital and reserving areas, is essential.
- Three (3) years’ experience in the short-term insurance industry
- SAM, ORSA, reserving and IFRS17 experience
- Experience with ResQ would be advantageous
- Reinsurance understanding would be advantageous
- Strong computer skills
- Microsoft SQL, Excel and Word proficiency
- Strong technical and communication skills
- Great work ethic and highly motivated
- Pro-active
- Fast learner
- Inquisitive personality
- Collaborates
- Client focus
- Drives results
- Flexibility and adaptability
- Cultivates innovation
- Analytical thinking
- Attention to detail
- Meticulous work
- Problem solving
- Decision making
- Manage complexity
- Business insight
- Meet deadlines
Actuarial Problem Solving
Issues management
Business knowledge
Business analysis
Self-development - Contributing independently
Interpersonal savvy - Contributing independently
Nimble learning - Contributing independently
Tech savvy - Contributing independently
Build a successful career with us
We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future – your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth. Through its five business clusters – Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as MiWay and the Group Office – the group provides many opportunities for growth and development.
Cultivates innovation - Contributing independently
Customer focus - Contributing independently
Drives results - Contributing independently
Collaborates - Contributing independently
Being resilient - Contributing independently
The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers. Deadline to apply: 13 September 2024.
Our commitment to transformation
At MiWay we believe in cultivating a positive and dynamic working environment that gives you freedom and opportunity to succeed. MiWay is committed to transformation and embracing diversity. This is what drives us to achieve a multicultural workplace with employment equity as a key goal to create an inclusive workforce, reflective of the demographics of our society.
