Head - Corporate Actuarial
Rand Mutual
- Parktown, Johannesburg
- Permanent
- Full-time
- Oversee both the actuarial teams working on the COID business as well as the Life Business and providing support to the AIT (IT) business.
- Oversee the preparation of and review monthly valuation data
- Oversee the application of ORSA methodology and SAM processes and procedures
- Maintain the integrity of actuarial and valuation data
- Timeously respond to actuarial queries from the regulators (FSB/SARB/SARS)
- Plan and Budget actuarial matters and maintain a timetable of submission (financial projections)
- Inform management of actuarial specific regulatory issues (solvency and capital requirements) for the Group
- Ensure that a summary of returns and any actuarial issues are maintained to report to management (EXCO/BOARD/AUDIT etc)
- Prepare and present actuarial matters to the Board and act as an advisor to the Board and its sub-committees
- Develop pricing models, ensure validity of assumptions and sufficiency of pricing (COID and Non-COID products)
- Set premium rates
- Develop and maintain Actuarial systems
- Monitor experience (reserving and pricing)
- Responsible for capital and solvency management and investment management through liability matching (ensure that assets are appropriate in terms of nature, amount and duration for liabilities that are held
- Responsible for the end-to-end management of the reinsurance process, including but not limited to negotiating treaties, facilitating transfers, setting and maintaining new strategies, mitigating risks and managing reinsurance renewals annually
- Prepare actuarial specific areas in all the Group regulatory returns
- This includes both the actuarial teams working on the COID business as well as the Life Business and providing support to the AIT (IT) business.
- Manage relationships within the company and stakeholders e.g. Statutory Actuary
- Lead and motivate a team to achieve targets
- Monthly reporting of the Key Performance indications for the actuarial reporting function
- Monthly report to FM on status of accounts and returns for EXCO submission
- Effective reporting and assessment of problem areas
- Ensure that RMA’s position is translated into standards by assessing gaps in methodology, assumptions and overall products and align standards to RMA)
- Ensure that all company policies and procedures are adhered to
- Ensure timely submission of various periodical reports, highlights of the previous month’s reports