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ACTUARY I

ACTUARY I

SanlamBellville, Western Cape, ZA
30+ days ago
Job description

Who are we?

Sanlam Life and Savings (SLS) is focused on serving our retail and corporate clients in South Africa and further developing our strategic advantages in the South African market. Sanlam Life and Savings consists of three clusters - Sanlam Corporate, Sanlam Retail Mass and Sanlam Retail Affluent. The Sanlam Life and Savings Office provides strategic direction, coordination and support to the three clusters, as well as performing governance oversight that includes assurance provided by second line of defense functions in SLS, to enable us to meet our business objectives.

Business Description :

The Sanlam Life and Savings (SLS) cluster provides clients with a comprehensive range of appropriate and competitive financial solutions. These include traditional life insurance risk and savings products, investment, retirement, health and fiduciary services. Designed to facilitate long-term wealth creation, protection and niche financing, these solutions are engineered around client needs.

Within the SLS Actuarial team, we believe in creating and cultivating a positive, energised working environment that gives you every opportunity to achieve success. Sanlam is committed to transformation and embracing diversity. This commitment is what drives us to achieve a diverse workplace with employment equity as a key goal to create an inclusive workforce, representative of the demographics of our society as well as people with disabilities.

SLS Risk and Balance Sheet management focusses on :

  • Playing a leading role in optimising and strengthening the strategies, balance sheets and income streams of SLS by providing projections, stresses, sensitivities, and other risk management information to inform these.
  • Understanding and optimising the drivers of profit streams within SLS to aid in dividend management.
  • We oversee the embedment of the ORSA in the strategic & risk management of SLS.
  • Providing various consulting services to SLS Actuarial via the Actuarial Consulting Unit.

What will you do?

Role description and Output / Core Tasks :

SLS Risk and Balance Sheet management is looking for a talented and creative actuary or actuarial student to join the team. The role will fit into the Actuarial Consulting Unit, primarily (but not solely) servicing the Solvency Optimisation team.

Responsibilities will therefore include :

  • Maintaining and developing models through which insurance business performance (. balance sheets, profits, embedded values, return on capital, solvency position) can be projected and sensitivity-tested for business planning purposes.
  • Developing and maintaining the Required Capital Frameworks for SLS’s insurance businesses.
  • Supporting risk and capital management within SLS in view of further business and regulatory requirements.
  • Assisting the Actuarial Consulting Unit with automation and optimization of actuarial processes.
  • Assisting the Actuarial Consulting Unit with ad-hoc consulting projects.

    • What will make you successful in this role?

    Requirements : Qualifications :

  • Senior Actuarial student or Qualified Actuary.

    • Experience and skills :

    The following would be advantageous :

  • Strong technical ability in Excel (Incl. VBA and PowerQuery), SQL and Python.
  • Balance sheet management and / or capital management experience.
  • Valuations experience and / or product development experience.
  • IFRS 17 knowledge and experience.
  • Broad knowledge base of Sanlam and SLS Actuarial.
  • Understanding of insurance products, including their risks and value drivers (. IFRS profit, Embedded Values

    • Personal attributes and Competencies :

  • The desire to innovate, automate and optimise how businesses operate.
  • Have a desire that your work adds value.
  • Knowledge seeking / learning orientation.
  • Ability to combine conceptual thinking with pragmatic solutions.
  • Ability to work independently as well as part of a team, also across departments, businesses, clusters and legal entity boundaries.
  • Good communication skills.

    • Knowledge and Skills

    Actuarial Problem SolvingActuarial NegotiationBusiness knowledgeBusiness analysis

    Personal Attributes

    Business insight - Contributing through othersSelf-development - Contributing through othersTech savvy - Contributing through othersInterpersonal savvy - Contributing through others

    Build a successful career with us

    We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future – your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth. Through its five business clusters – Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as MiWay and the Group Office – the group provides many opportunities for growth and development.

    Core Competencies

    Cultivates innovation - Contributing through othersCustomer focus - Contributing through othersDrives results - Contributing through othersCollaborates - Contributing through othersBeing resilient - Contributing through others

    Turnaround time

    The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.

    21 October 2024