Permanant Actuarial Manager: Non-life Corporate Actuarial | Absa Vacancies
Job Description
Absa Vacancies – Actuarial Manager: Non-life Corporate Actuarial
Job Type: Full Time
Company: Absa Group
Actuarial Manager: Non-life Corporate Actuarial
Job Summary
The Actuarial Manager: Non-life Corporate Actuarial role sits within the Corporate Actuarial function supporting non-life insurance operations. This position is responsible for managing actuarial analysts and supporting the Head of Corporate Actuarial in capital management, ORSA processes, and regulatory reporting. The role requires strong technical expertise in non-life insurance, capital modelling, and financial soundness frameworks.
Role Overview
As an Actuarial Manager: Non-life Corporate Actuarial, you will lead a small team of actuarial analysts while driving key deliverables related to risk, solvency, and capital adequacy. You will play a central role in the Own Risk and Solvency Assessment (ORSA) process, ensuring accurate modelling, analysis, and communication of results to key stakeholders.
Key Responsibilities
Own Risk and Solvency Assessment (ORSA)
- Manage and coordinate the ORSA process for non-life insurance entities
- Operate and enhance the ORSA projection model
- Define and monitor risk appetite metrics
- Perform stress and scenario testing to support capital adequacy assessments
- Maintain and improve ORSA models and methodologies
- Present and communicate ORSA outcomes to senior stakeholders
Capital and Regulatory Reporting
- Support capital calculations aligned to SAM Financial Soundness Standards
- Contribute to regulatory reporting and financial soundness assessments
- Ensure accuracy and integrity of actuarial outputs used for decision-making
Team Leadership
- Manage and develop a team of actuarial analysts
- Allocate work, monitor progress, and ensure timely delivery of outputs
- Foster a high-performance and collaborative actuarial team environment
Required Qualifications and Experience
- Bachelor’s Degree in Actuarial Science (Honours preferred)
- At least 5 years’ experience in non-life insurance actuarial roles
- Newly or nearly qualified actuary with strong exam progression toward Fellowship
- Solid understanding of SAM Financial Soundness Standards (FSIs)
- Experience in capital modelling and non-life reserving techniques
- Exposure to IFRS 17 reporting considered advantageous
- Experience in data extraction, transformation, and automation of processes
- Programming skills in SQL, Python, or VBA advantageous
Skills and Competencies
- Strong analytical and problem-solving ability
- Good understanding of insurance systems and policy administration
- Excellent communication skills, both written and verbal
- Strong time management and prioritisation abilities
- Ability to manage multiple stakeholders and deliver under pressure
- High level of initiative, motivation, and adaptability
Education
- Bachelor’s Degree: Actuarial Science
This organisation is an equal opportunity employer committed to diversity and inclusion in line with applicable employment equity principles.
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