Head: Actuarial Assumption Model Development Validation JHB

Head:
Actuarial Assumption & Model Development Validation Sandton (JHB) Permanent Finance / Accounting
JHB North, Johannesburg - Gauteng Head:
Actuarial Assumption & Model Development Validation Sandton (JHB) Permanent Salary:
Market related (Based on experience) Company overview:
South African provider of cell captive business and alternative risk transfer solutions, offering tailor‑made risk financing and access to professional reinsurance markets. As the market leader, we specialise in innovative cell captive structures that allow clients to operate their own insurance products within a ring‑fenced facility, including underwriting, actuarial, legal, compliance and financial reporting services without the costs and complexities of establishing an insurance company.

Registered for most statutory classes of non‑life and life insurance, we provide customised cover and strategic risk solutions. Our services cater to corporates that are serious about risk management, those facing complex or high‑cost risks and businesses looking to offer their own branded insurance products.

• Qualifications
  • Fellow of the Actuarial Society of South Africa (FASSA) - (with Life Fellowship preferable)
  • Preferable Life practicing certificate
• Experience
  • Minimum 10 years post‑qualification actuarial experience, with at least 5 years in a senior validation, modelling, or assumption governance role.
• Knowledge
  • Advanced understanding of Life valuations across both IFRS 17 and SAM
  • Core Prophet model development capability
  • Advanced understanding of IFRS 17 and SAM standards
  • Advanced understanding of financial reinsurance mechanics

• Developing Strategies
  • Are comfortable leading people.
  • Coordinates and directs groups.
• Examining information
  • Analyses and processes information.
  • Strives to find solutions to problems.
• Interpreting Data
  • Can interprets data rationally by quantifying issues.
  • Applies technology as a means to evaluating data.
  • Evaluates information objectively.
• Providing Insights
  • Is focused on continuously improving things; provides insights by identifying key issues; makes intuitive judgements.

• Assumption and Model Reviews
  • Prepare assumption review and model development review workplans
  • Review actuarial assumptions (e.g., Lapses, Mortality, Expenses etc.) used in long contract boundary models
  • Review and pressure test contract boundary assumptions across both IFRS 17 and SAM.
• Modelling and Validation
  • Review and validate gross and financial reinsurance Prophet modelling and associated output (existing and new models) on a SAM and IFRS 17 basis, including ORSA projections
  • Review IBNR triangulation
• Results and Reporting
  • Provide high‑level review of IFRS 17 and SAM Annual results
  • Document and communicate output of reviews and validations to Balance Sheet Management Functions and broader stakeholders
• Governance & Oversight
  • Work with outsourced Head of Actuarial Function to provide comfort on validations performed and output thereof, feeding into Head of Actuarial Function review processes.

NB:
Should you not be contacted within 2 weeks of your application, please consider it as unsuccessful. Apply for this Job.