Actuarial Analyst
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Head: Actuarial Assumption & Model Development ValidationMomentum Metropolitan Holdings Limited • ZA
No longer accepting applications
Head: Actuarial Assumption & Model Development Validation
Momentum Metropolitan Holdings Limited • ZA
30+ days ago
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.
Requirements
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
Duties & Responsibilities
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 & 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.
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.
Closing Date
- 2026/02/05
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Head: Actuarial Assumption & Model Development Validation • ZA
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