CompanyAVBOBReference #437AS01Published19/07/2021Contract TypePermanentSalaryMarket RelatedLocationPretoria, Gauteng, South AfricaIntroductionAVBOB MUTUAL ASSURANCE SOCIETY PROVIDING A ONE-STOP FUNERAL INSURANCE POLICIES HAS A VACANCY FOR:
Actuarial Specialist (IFRS 17)Job FunctionsFinance,Risk ManagementIndustriesInsuranceSpecificationSupporting the Actuarial Manager with the delivery of a comprehensive IFRS 17 modelling
solution to the business
KEY RESPONSIBILITIES
? Performing research of the IFRS 17 standard and related publications
? Performing modelling gap analyses
? Designing appropriate Premium Allocation Approach & General Measurement Model
valuation methodologies suitable to a mutual insurer
? Model development, improvement and change control management
? Determining, recording, and updating key actuarial assumptions
? Performing financial impact assessments
? Work closely with the Actuarial Manager to ensure an effective and efficient IFRS 17
implementation
? Identify areas of improvement and alignment between SAM and IFRS 17 reporting
processes
? Assessment and drafting of IFRS 17 accounting position papers and implementation
guidelines
? Design, set up and document of the IFRS 17 modelling processes to meet reporting needs,
with a focus on governance and controls
? Applying an innovative mind-set to aspects such as automation, validation, efficiency, and
controls in the design of cash flow engines and with assumption setting processes
? Assessing, rating, and implementing various vendor or building bespoke modelling
solutions in partnership with ICT and Finance
? Liaise with ICT, Finance, actuarial consultants and auditors to prepare for IFRS 17
transition.
? Work with the actuarial team to enhance and improve actuarial modelling and reporting
processes under business as usual conditions
? Support the Actuarial Manager to develop and refine analytical capabilities required for
managing the business under IFRS 17
2
? Development of models and processes which will feed into the IFRS 17 results
consolidation.
? Supporting the Actuarial Manager in assessing the impact of IFRS 17 on product design
and capital management
? Working with and providing guidance to junior team members also involved with the IFRS
17 projectRequirementsQUALIFICATION REQUIREMENTS FOR THIS POSITION:
? Appropriate tertiary qualification in Actuarial Science
? Qualified or nearly qualified Fellow of the Actuarial Society of South Africa (FASSA) or
similar
EXPERIENCE AND KNOWLEDGE REQUIRED FOR THE POSITION
? A minimum of 8 years life insurance valuations experience
? Extensive experience with Prophet, DCS or other actuarial modelling software
? Previous IFRS 17 experience is preferred but not essential
? Advanced Excel, VBA and SQL experience will be an advantage
COMPETENCIES REQUIRED FOR THE POSITION
? Self-starter with the ability to work independently
? Goal-orientated with an ability to perform work efficiently
? Deadline-driven and the ability to work under pressure
? Strong analytical and problem solving skills
? Ability to co-opt more junior team members into the IFRS 17 project and providing
necessary guidance
? Relationships managementJob Closing Date26/07/2021Share on
