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Johannesburg: Head: Actuarial Assumption and Model Development Validation

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Job Description

ROLE PURPOSE To provide independent review and validation of actuarial assumptions, IFRS 17 and SAM basis setting, Prophet and ResQ model development for both IFRS 17 and SAM and other ad-hoc activities across the first-line Balance Sheet Management functions.  Responsibilities, work outputs and individual contribution  1. Assumption and Model Reviews Prepare assumption review and model development review workplans Review actuarial assumptions (e.g., Lapses, Mortality, Expenses etc.) used in long contract boundary models Review and pressure test contract boundary assumptions across both IFRS 17 and SAM.  2. Modelling and Validation Review and validate gross and financial reinsurance Prophet modelling and associated output (existing and new models) on a SAM and IFRS 17 basis, including ORSA projections Review IBNR triangulation  3. Results and Reporting Provide high-level review of IFRS 17 and SAM Annual results Document and communicate output of reviews and validations to Balance Sheet Management Functions and broader stakeholders  4. Governance Oversight Work with outsourced Head of Actuarial Function to provide comfort on validations performed and output thereof, feeding into Head of Actuarial Function review processes. QUALIFICATIONS AND EXPERIENCE  Qualifications Fellow of the Actuarial Society of South Africa (with Life Fellowship preferable) Preferable – Life practicing certificate  Experience Minimum 10 years post-qualification actuarial experience, with at least 5 years in a senior validation, modelling, or assumption governance role.  Knowledge Advanced understanding of Life valuations across both IFRS 17 and SAM Core Prophet model development capability Advanced understanding of IFRS 17 and SAM standards Advanced understanding of financial reinsurance mechanics  CRITICAL COMPETENCIES Developing Strategies: Are comfortable leading people; coordinates and directs groups; seeks to control things. Examining information : Analyses and processes information; asks probing questions; strives to find solutions to problems. Interpreting Data: Interprets data rationally by quantifying issues; applies technology as a means to evaluating data; evaluates information objectively Providing Insights: Is focused on continuously improving things; provides insights by identifying key issues; makes intuitive judgements. Making decisions: Is determined and decides on actions; willingly assumes responsibility; is definitive and stands by own decisions. Producing output: Embracing Change: Copes with change and variety; tolerates uncertainty and ambiguity; adapts to new challenges. Role reports to: Chief Actuary

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How to Apply

Click the green “Go Apply” button below to apply directly online with the employer.

About IT / Computing / Software Jobs in Gauteng

In Gauteng, the IT and computing industry is a significant contributor to the province’s economy, with a steady demand for skilled professionals. Typically, this field is characterized by rapid technological advancements, innovative projects, and a high level of job satisfaction among employees. Generally, career prospects in this sector are strong, with a range of opportunities available across various industries.

Salaries for IT and computing professionals in Gauteng can vary widely depending on factors such as experience, company size, and industry sector. While it is common to see salaries ranging from R400 000 to R1,200 000 per annum, these figures are only a general guideline and actual salaries may differ significantly. For instance, senior executives or technical leads with extensive experience may command higher salaries, while entry-level positions may start at lower levels.

Common skills required for IT and computing roles in Gauteng include proficiency in programming languages such as Java, Python, or C++, knowledge of cloud platforms like AWS or Azure, and experience with agile development methodologies. Additionally, understanding of data analysis and interpretation, cybersecurity principles, and IT project management are often essential. Familiarity with popular software applications, such as Microsoft Office 365 or Google Workspace, is also beneficial.

The financial services sector, technology industry, manufacturing sector, and government departments are among the common industries that employ IT and computing professionals in Gauteng. These sectors require a range of skills and expertise, from data analysis to network administration, making them attractive options for career development.

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For those seeking a career in IT and computing, there are numerous opportunities for professional growth and development. Typically, career progression involves moving into senior roles or specialized positions, such as technical lead, solutions architect, or data scientist. Opportunities for further education and training, such as certifications or postgraduate studies, can also enhance job prospects. Generally, a strong understanding of industry trends, networking, and continuous learning are essential for success in this field.


This information provides general career guidance. Actual salaries and requirements vary by employer.



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Johannesburg: Head-Actuarial Assumption and Model Development Validation

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Job Description

Responsibilities, work outputs, and individual contribution: Assumption and Model Reviews: Prepare assumption review and model development review workplans Review actuarial assumptions (e.g., Lapses, Mortality, Expenses, etc.) used in long contract boundary models Review and pressure test contract boundary assumptions across both IFRS 17 and SAM Modelling and Validation: Review and validate gross and financial reinsurance Prophet modelling and associated output (existing and new models) on a SAM and IFRS 17 basis, including ORSA projections Review IBNR triangulation Results and Reporting: Provide high-level review of IFRS 17 and SAM Annual results Document and communicate output of reviews and validations to Balance Sheet Management Functions and broader stakeholders Governance and Oversight: Work with the outsourced Head of Actuarial Function to provide comfort on validations performed and output thereof, feeding into the Head of Actuarial Function review processes Qualifications: Fellow of the Actuarial Society of South Africa (with Life Fellowship preferred) Preferably Life practicing certificate Experience: Minimum 10 years post-qualification actuarial experience, with at least 5 years in a senior validation, modelling, or assumption governance role Knowledge: Advanced understanding of Life valuations across both IFRS 17 and SAM Core Prophet model development capability Advanced understanding of IFRS 17 and SAM standards Advanced understanding of financial reinsurance mechanics

How to Apply

Click the green “Go Apply” button below to apply directly online with the employer.

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About IT / Computing / Software Jobs in Gauteng

In Gauteng, the IT and computing industry is a significant contributor to the province’s economy, with a steady demand for skilled professionals. Typically, this field is characterized by rapid technological advancements, innovative projects, and a high level of job satisfaction among employees. Generally, career prospects in this sector are strong, with a range of opportunities available across various industries.

Salaries for IT and computing professionals in Gauteng can vary widely depending on factors such as experience, company size, and industry sector. While it is common to see salaries ranging from R400 000 to R1,200 000 per annum, these figures are only a general guideline and actual salaries may differ significantly. For instance, senior executives or technical leads with extensive experience may command higher salaries, while entry-level positions may start at lower levels.

Common skills required for IT and computing roles in Gauteng include proficiency in programming languages such as Java, Python, or C++, knowledge of cloud platforms like AWS or Azure, and experience with agile development methodologies. Additionally, understanding of data analysis and interpretation, cybersecurity principles, and IT project management are often essential. Familiarity with popular software applications, such as Microsoft Office 365 or Google Workspace, is also beneficial.

The financial services sector, technology industry, manufacturing sector, and government departments are among the common industries that employ IT and computing professionals in Gauteng. These sectors require a range of skills and expertise, from data analysis to network administration, making them attractive options for career development.

For those seeking a career in IT and computing, there are numerous opportunities for professional growth and development. Typically, career progression involves moving into senior roles or specialized positions, such as technical lead, solutions architect, or data scientist. Opportunities for further education and training, such as certifications or postgraduate studies, can also enhance job prospects. Generally, a strong understanding of industry trends, networking, and continuous learning are essential for success in this field.

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This information provides general career guidance. Actual salaries and requirements vary by employer.



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