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
Leverage your actuarial skills to support the submission of the Absa Financial Services Insurance Groups’ SAM return and ORSA, as well as other actuarial processes to deliver sound management of business performance and financial risk. This role involves developing and maintaining models for risk appetite, capital management and regulatory reporting.
Job Description
Key accountabilities
Job Description
Processes may include:
Analytics to ensure accurate financial reporting and support management decision making:
Preparation and analysis of data as inputs into actuarial calculations;
Providing support to the Groups’ SAM return and ORSA, including coordinating and reviewing inputs from the various business units;
Production of monthly management information, for example risk appetite monitoring;
Providing budget support where needed, for example non-insurance entities' budgeted projections; and
Development of and maintenance of models, for example capital and risk modelling.
Coordination of a committee / forum to enable business and risk management execution, as well as oversight for a sound control environment:
Understand and deliver requirements of internal stakeholders, including stakeholders not within the same business unit for example risk management function or Absa Group Limited; and
Draft papers, complete templates, and present to committees on insurance and model risk.
Other responsibilities:
Supporting analyses on ad-hoc requests from internal stakeholders;
Assist in ensuring consistency and alignment in methodologies and regulatory requirements across the Group;
Keeping abreast of the latest regulatory and actuarial developments to ensure compliance with the relevant requirements;
Contributing to projects that ensure the ongoing viability and sustainability of actuarial solutions; and
Provide support on external reviews (HAF and Audit).
Minimum Requirements
- 1-3 years of actuarial work experience
- Good actuarial exam progression (passed or exempted from at least 6 actuarial exams); and
- Good understanding of the SAM Financial Soundness Standards.
Knowledge and skills
- Strong analytical skills with the ability to take on complex problems;
- Experience in extracting and transforming data and designing automated processes;
- Excellent written and verbal communication skills;
- Excellent time management skills with the ability to prioritise deliverables and manage stakeholder expectations; and
- High degree of motivation and initiative.
Education
- A Degree in Actuarial Science (an Honours degree would be advantageous).
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
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