Head Of Capital And Balance Sheet Management: Actuarial Services - Parktown North Johannesburg at PPS

Job Advert Summary    

• The Head of Capital & Balance Sheet Management in Actuarial Services provides effective leadership and management to the Actuarial Services Capital team, and will be responsible for capital management, investment management, adequacy of re-insurance programs, solvency and statutory reporting with a key focus on Own Risk and Solvency deliverables and Enterprise Risk Management.  This position will have interaction with other teams within the Actuarial Services department, as well as with other departments within the broader PPS Group.  It is also expected that the incumbent interacts with the Statutory Actuary and the Group’s external auditors. The role will report to the Group Executive: Actuarial Services. 

Minimum Requirements    
Qualifications:

• Matric.
• Completed university honours degree majoring in Actuarial Science.
• Attained a Fellowship within the Actuarial Society of South Africa (ASSA), Institute or Faculty of Actuaries (UK) or another recognised body, i.e a qualified actuary. 
• Advanced computer knowledge - MS Outlook, Excel and Word are necessary, and some PROPHET including DCS (actuarial software) knowledge is preferable.
• A working knowledge of SQL, VBA and other coding languages will be preferred.

Experience:

• Must have at least 5 years’ experience in the Life Insurance actuarial environment, and experience of Solvency Capital and Economic Capital principles will be preferable.
• Attention to detail is critical.
• Good verbal and written communication skills and the ability to lead a team of 3-5 actuarial resources.  

Knowledge:

• Knowledge of actuarial principles and retail insurance products.
• Knowledge and background of the financial services industry.
• Ability to write reports and present technical concepts to senior management, Committees and the Board.
• Knowledge of various asset classes, characteristics and risks.

Interpersonal and Intrapersonal Skills:

• Organisational and management skills.
• Confident.
• Self-starter.
• Persuasive and influential.
• Target-Driven.
• Manages expectations.
• Resilient.
• Responsible & accountable.
• Resourceful problem solver.

Duties and Responsibilities    

• Directs and develops goals for the Actuarial Services Capital team.

Responsible for regular actuarial investigations, including asset liability modelling, reinsurance, economic capital calculations as well as stress & scenario testing and risk appetite. This will involve:

• Monitor solvency and demonstrate capital optimisation through the development and calculation of accurate Economic Capital metrics that are used as a decision-making tool in developing strategy, setting budgets and allocation of capital.
• Regular (re)development of economic capital calculation models to ensure alignment to regulatory, PPS policies & frameworks and business requirements.
• Ensure all assets and investments are managed optimally to ensure investment objectives are met, either to maximise risk adjusted returns or to match liabilities effectively, setting mandates and implementing asset-liability matching procedures.
• Provide actuarial inputs into the ORSA and related reports.
• Responsible for the completion of statutory returns, particularly the SAM Qualitative return and Market Risk component of the Quantitative Return.
• Alignment of PPS Corporate Actuarial Department output with published ASSA Guidance notes, PPS policies & framework and other regulatory requirements.
• Responsible for adherence to PPS SAM policies and frameworks.
• Alignment to proposed regulatory and best practice changes in South Africa and Namibia.
• Support reporting to the Boards, Risk Committee and Actuarial Committee.
• Management of Capital in the group.