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.
Job Summary
Bachelor's Degree in Actuarial Science, Mathematics, Statistics, or a related quantitative discipline. Qualified Actuary (FASSA or equivalent international qualification preferred). Minimum 10 years' actuarial experience within the financial services or insurance industry.Proven experience in actuarial leadership and stakeholder management. Strong understanding of pricing, valuation, risk management, capital modelling, and regulatory frameworks.
Advanced analytical and problem-solving skills. Ability to influence executive-level stakeholders and translate technical concepts into business insightsTo develop tactical strategy and delivery plans, formulate associated practice/s and to ensure operational implementation and adoption in terms of actuarial methodology, governance and delivery objectives. This role enables sound management of business performance and financial risk.
Job Description
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Lead and oversee actuarial analysis, modelling, and reporting activities.
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Provide strategic actuarial insights to support business planning and decision-making.
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Drive the development, validation, and enhancement of actuarial models and methodologies.
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Partner with business, finance, risk, product, and executive stakeholders to identify opportunities and mitigate risks.
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Ensure compliance with regulatory, governance, and actuarial professional standards.
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Monitor portfolio performance, identifying trends and recommending interventions where necessary.
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Lead, coach, and develop actuarial talent within the team.
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Contribute to the design and implementation of innovative solutions that optimise business outcomes
Key accountabilities
Management of complex actuarial production processes to deliver sound management of business performance and financial risk.
Processes may include:
1. Analytics and financial reporting to ensure accurate financial reporting and support management decision making:
- Preparation and analysis of data as inputs to actuarial calculations such as reserving
- Production of management information
- Production of experience analyses as an input for basis setting / pricing exercises; setting of valuation and pricing bases
- Production of actuarial exercises such as reserving, capital, and pricing
- Production of analysis of earning, risk reporting and analytics, and ORSA processes
2. Product development and management to enable business performance and drive customer value, including:
- Production of competitor research; understanding of the landscape; and development of customer value propositions
- Creating advanced product design, formulation of product specifications and implementing multiple major product enhancements
3. Running models to ensure accurate financial reporting and support management decision making at an advanced level
- For inputs to processes such as reserving, capital, pricing or business case modelling
- Development of and maintenance of advanced spreadsheet models which may include planning and capital and risk modelling
- Development of and maintenance of actuarial open platform software complex models
4. Review and sign off results
- Perform independent review and provide actuarial opinions to ensure accuracy of outputs for sound business decision making and ensuring a robust control environment
5. Coordination of a committee / forum to enable business and risk management execution and oversight for a sound control environment
- Understand and deliver requirements of internal stakeholders, within the same business unit
- Understand and deliver requirements of internal stakeholders, not within the same business unit i.e. Risk, Group
6. People management responsibilities to support talent development and business resilience:
Head of a team (up to 12 people)
Education
Bachelor's Degree: Actuarial Science (Required), Master's Degree: Actuarial Science (Required)
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
