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South Africa

Actuarial Specialist (IFRS 17)

Company AVBOB
Reference # 437AS01
Published 19/07/2021
Contract Type Permanent
Salary Market Related
Location Pretoria, Gauteng, South Africa
Introduction
AVBOB MUTUAL ASSURANCE SOCIETY PROVIDING A ONE-STOP FUNERAL INSURANCE POLICIES HAS A VACANCY FOR:

Actuarial Specialist (IFRS 17)
Job Functions Finance,Risk Management
Industries Insurance
Specification
Supporting 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
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 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 project
Requirements
QUALIFICATION 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 management
Job Closing Date 26/07/2021
   
   
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Last Updated: 28 days ago [21.06.02.21]
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