Specialist: Actuary at Liberty Group Limited Full-time Job

Date: 26-Mar-2022

Location: Johannesburg GAU ZA, GT, ZA

Company: Liberty Group Limited

At Liberty, we employ more than 6 000 people across 7 businesses in 18 African countries. Every day, our employees grow their knowledge by working with diverse groups of people who specialise in a wide range of skills across insurance, asset management, investment and health products. We continually seek to engage, develop, recognise and reward the people who make our business great.

Purpose

To provide specialist actuarial support that enables sound commercial advice through the application of probability & investment theory and related statistical tools and the execution of predefined objectives as per agreed SOP's.

Output

• Performing actuarial valuation work covering Data checks and basic actuarial modelling work.
• Performing the calculation of Reserves, VNB, EV, Economic Capital stresses and Solvency as part of the regular actuarial reporting function including regulatory reporting
• Monitoring and reporting insights observed from experience monitoring and feeding this work into the business and into assumption setting.
• Taking ownership of and updating routine actuarial risk and performance dashboards for use by various stakeholders
• Performing budget modelling, reinsurance optimisation and other risk modelling work as required by the business from time to time
• Supporting senior Actuarial and Finance staff with value analysis work e.g. Analysis of Surplus, Analysis of Embedded value work and in drafting the actuarial valuation reports.

Minimum Experience

At least 2 years working experience, in a Life Insurance Actuarial environment.

Minimum Qualifications

• Actuarial science degree with completion of at least 4 Actuarial subjects (towards qualification)

Process

• Apply relevant research methodologies, tools and techniques to effectively and purposefully gather information.
• Provide specialist advice and support in area of accountability to ensure that identified solutions and recommendations are appropriate and effective.
• Perform required actuarial and other analyses for management reporting, and make recommendations to support these analyses.
• Stay abreast with latest actuarial development tools and techniques in order to conduct analysis in an informed manner.
• Accountable for the execution of specialised work including the improvement of quality, standards and outputs within defined work routines and operating procedures.
• Proactively solves problems, determines root-cause and applies solutions in line with guidelines and providing the necessary information to solve problems related to area of specialisation.
• Plan for own task execution and advises on improvements related to area of specialisation.
• Completes actuarial tasks that are relatively granular with detailed output requirements defined
• Performs data checking and validation work
• Applies analytical tools and techniques, including model building, to solve actuarial problems
• Adheres to spreadsheet standards and maintains audit trails.
• Builds a basic understanding of general actuarial insurance knowledge, e.g. statutory reserving and capital requirements, IFRS reporting, product pricing etc.
• Builds a basic understanding of company specific knowledge, e.g. product knowledge, company structure, business rules, policies, processes etc.

Customer

• Ensure own understanding and adherence to customer service delivery and Treating the Customer Fairly (TCF) principles to provide specialist support and guidance.

Finance

• Adhere to specified standards, policies and procedures to prevent potential losses/wastage related to the area of specialisation.

Learning and Growth

• Interact proactively with others for the purpose of continuous knowledge sharing; and integration of own new knowledge.
• Contribute positively to own area-specific knowledge improvement associated with area of specialisation.
• Continuously assess own performance, seek timely and clear feedback and request training where appropriate.

Governance

• Comply to set governance and compliance procedures and processes related to an area of work and continuously identify, rectify and escalate risks where necessary.
• Adheres to Actuarial Guidance Notes and any other applicable regulations.

Technical Competencies

• Research and Information Gathering (Basic)
• Quantitative Skills (Intermediate)
• Modelling (Basic)
• Statistical and Mathematical Analysis (Intermediate)

Behavioural Competencies

• Professional/Technical learning (Basic)
• Organisation and Attention to Detail (Basic)
• Interpersonal Effectiveness (Basic)
• Problem Solving and Analysis (Basic)
• Teamwork and Cooperation (Basic)
• Relationship Management and Networking (Intermediate)
• Customer Orientation (Basic)

Liberty Group Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998 and the group's Transformation Strategy, preference will be given to suitable candidates from designated groups whose appointments will contribute towards the achievement of equitable demographic representation of our workforce profile and add to the diversity of the organisation.

At Liberty, we employ more than 6 000 people across 7 businesses in 18 African countries. Every day, our employees grow their knowledge by working with diverse groups of people who specialise in a wide range of skills across insurance, asset management, investment and health products. We continually seek to engage, develop, recognise and reward the people who make our business great.