Head Actuary – South Africa recruitment

We are seeking a Head Actuary who will be responsible to build an actuarial function for Chartis SA and addressing all the requirements for the SAM framework. He/she will be responsible for the assessment of premiums and reserve adequacy, and support the management of all insurance related risks especially Catastrophic Events and the optimization of the Reinsurance structure.

Reporting into the General Manager, this position will be based in South Africa, Johannesburg.

Specific responsibilities will include:

-Develop a documented, approved and tested Technical Provision process and methodology to calculate technical provisions;
-Develop processes, procedures and metrics to enable the business to monitor, assess and control the requirements of the SAM Framework with respect to underwriting policy, pricing and product development;
-Develop processes and procedures to validate budget assumptions and ensure that the budgeting process is in line with the risk appetite and strategy and make projections for expected loss ratios for all lines of business for budget purposes;
-Assist in model validation of Standard Model for SCR and MCR calculations, in accordance with the Directive and associated guidance as well as provide technical support for the Own Risk and Solvency Assessment;
-Develop procedures to produce, document and report opinions on the adequacy of reinsurance arrangements and align/implement a reinsurance strategy in line with Solvency requirements;
-Mentoring and guiding of junior actuarial staff;
-Interaction with relevant departments in Chartis (Commercial, Consumer, Claims etc);
-Support Business Units with Portfolio Analysis and Management.

The successful candidate for this role will have the following:
Bachelor or Masters Degree in Actuarial Science, Mathematics, Statistics or equivalent;
Completed or almost complete professional examinations from the Institute and Faculty of Actuaries SA, or equivalent recognized qualification;
At least 5 years short term insurance industry knowledge and experience as an Actuary;

In addition: