Empowering Africa’s tomorrow, together…one story at a time.
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
Overall job purpose
To 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
Perform complex actuarial production processes under limited supervision to support sound management of business performance and financial risk.
Processes includes:
1. Solvency Assessment and Management (SAM) Prudential Valuation for Absa Life and the Cells
- Solvency Capital Requirements
- Iterative Risk Margin Calculations
- Dividend proposals
- Quarterly and Annual Returns
2. Investments Mangement
- Asset Liability Modelling (ALM) exercises,
- Setting investment strategies for the business
- Monitoring investment performance against benchmarks and risk appetite
- Regular engagements with the Asset Managers.
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. 1st line quality / assurance review and checking (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)
- Managing a team of 5 Actuarial Specialists and Analysts
Minimum Requirements:
- Qualified Actuary with at least 2 years Post Qualification Experience
- SAM and Capital Management experience Crucial
- Experience in managing people
- Experience of Iterative Risk Margins preferred (not a requirement).
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
Top Skills
What We Do
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.
