Manager : Actuarial Valuations & Statistical Analysis

Overview

Manager : Actuarial Valuations & Statistical Analysis – Road Accident Fund (RAF). Location : Centurion, Gauteng. Employment Type : Permanent. T.A.S.K Grade : 16. Job Posting Salary : R1,028,791.00. Job Posting End Date : 7 Oct 2025.

The Road Accident Fund’s mission is to provide appropriate cover to all road users within the borders of South Africa; to rehabilitate and compensate persons injured as a result of motor vehicle accidents in a timely and caring manner; and to actively promote safe use of our roads. Purpose of the Job : Reporting to the Senior Manager : Corporate Actuarial, the successful incumbent is responsible to manage and provide actuarial support and advice to RAF business.

Key Responsibilities

• Valuation of Outstanding Claims Provision : Build, develop and assess models for reserving / valuation using appropriate techniques to ensure data accuracy; ensure model processes are high quality, well documented and verifiable.
• Data manipulation to determine reserves; development of an appropriate valuation model / method; setting of valuation assumptions; running the model and producing results; applying sensitivity and scenario testing to the results; producing the valuation report; standardizing the actuarial valuation report to Actuarial professional guidance; oversee that actuarial results are correctly interpreted and reported in RAF’s quarterly and annual financial statements; manage the entire actuarial valuation process.
• Development and Management of Funding Model : Data manipulation for modelling future projections; development of an appropriate modelling method – deterministic and / or stochastic; set projection / modelling assumptions; running model and reporting on results; producing report on required funding from National Treasury and demonstrating period required by RAF to become solvent; oversee that actuarial results are correctly interpreted and applied.
• Quotation of “Loss of Earnings” and “Loss of Support” Benefits for Motor Vehicle Claims : Developing model and assumptions for benefit quotations; data manipulation to state the quotation of loss of earnings or loss of support benefits – especially the model input; running model to produce benefit results; check quotation results actuarially for reasonability; produce quotation report; manage the quotation processing.
• Modelling of Regulatory Solvency Capital Requirements and Providing Technical Actuarial Information for ESB Reporting : Use actuarial valuation results to compile the FSB report; run model scenarios required for statutory reporting; produce reports as appropriate.
• Providing Executives with Input to the Strategic Plan : Apply the Funding Model for financial projections; set model assumptions; run model for Strategic Plan results; apply scenario and sensitivity testing; produce report on findings; ensure correct interpretation and application of actuarial results; oversee and manage related processes.
• Providing Monthly Claims Statistics for Management Reporting : Extract data and data reports from IT claim system; provide results in statistical and graphical form for monthly, quarterly, half-yearly and annual management reporting.
• Actuarial Investigations : Investigate mortality and morbidity experience to assist in setting quotation of loss of earnings and loss of support benefits; assist with expense investigation for budgeting; produce reports for relevant users; oversee correct interpretation and application of results.
• Manage Actuarial Department Risks : Assist with reviewing and monitoring risk mitigating tasks or measures.
• Policy Review and Implementation : Contribute to development and implementation of departmental policy, procedures and processes; stay up to date with policy and practice execution strategies.
• Reporting : Prepare and submit reports to provide progress updates and / or inform management decisions; develop reports / policies / procedures aligned to RAF’s Strategy; develop functional reporting systems for management / projects / performance.
• Stakeholder Management : Facilitate and manage communication with internal and external stakeholders in relation to investments; manage relationships with vendors / service providers; communicate with all levels; represent the Fund in external activities and events.
• People Management : Ensure sourcing, development and retention of a high-performance team; manage staff to achieve objectives aligned with RAF’s strategy; implement HC processes and policy to control / regulate workplace conflict; allocate, direct, motivate and evaluate subordinates; manage the department’s workload.

Qualifications And Experience

Technical And Behavioral Competencies

NB : RAF offers Total Employment Cost packages with no additional contributions from the Employer, successful candidates are required to structure their packages in a manner that will suit their needs.

The Road Accident Fund subscribes to employment equity principles; preference given to People with Disabilities.

Applicants who have not received any correspondence within six weeks from the closing date can consider themselves unsuccessful.

Security Vetting shall be conducted on all prospective employees.

It is the applicants’ responsibility to have foreign qualifications evaluated by SAQA and to provide proof of evaluation.

Seniority level

Employment type

Job function

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