Requirements


Qualified or nearly qualified actuary;
At least three (3) years’ relevant experience preferred;
Experience with RiskAgility Financial Modeller will be advantageous;
Good knowledge of discretionary participation business as well as structured and/or guaranteed investments;


Duties & Responsibilities

The incumbent will be co-responsible for the following:


Ongoing management of retail discretionary participation business, including but not limited to the oversight, evaluation and projection of assets and liabilities;
Identifying improvements to the discretionary participation book or the management thereof, including obtaining approval for the changes from the various governance forums;
Assisting in the development of corporate structured and/or guaranteed investments including conducting the necessary quantitative analysis, solution research, stakeholder engagement, compiling detailed product specifications and preparation of product approval documents for the various governance forums;
Reviewing and proposing changes to discretionary participation business management actions;
Recommendation of bonus rates (interim, final, claim, reversionary or terminal where applicable) for discretionary participation business;
Review and update of the bonus philosophy which may require creating new bonus smoothing formulae;
Building, updating or reviewing appropriate models in order to quantify financial impacts appropriately;
Reviewing and proposing changes to the segment Principles and Practices of Financial Management (PPFM);
Managing the implementation of statutory and contractual requirements for retail discretionary participation business;
Mitigating financial, legal, reputational and other pertinent retail discretionary participation business risks by ensuring administration systems are continuously rigorously tested for adherence to contractual obligations;
Mitigating operational risks by adding a layer of governance to manual processes inherent within retail discretionary participation business;
Reviewing legal documentation (for example, client contracts, counterparty agreements, etc.);
Actuarial, compliance and performance reporting for retail discretionary participation business;
Establishing and maintaining strong relationships with various internal and external stakeholders and assisting them in analysing, supplying and translating information on retail discretionary participation business;
Driving projects to completion within stipulated timelines;
Undertaking ad-hoc actuarial tasks including the resolution of technical queries.