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South Africa Job Openings

Risk Management

Statutory Actuary

Cape Town

FULL TIME

November 28, 2024

Introduction

Momentum Group Limited (Momentum Group) is a significant player in South Africa's life insurance and integrated financial services sectors. We are a proud Level 1 B-BBEE South African-based group dedicated to building and protecting our clients' financial dreams. Our client-facing retail and specialist brands, including renowned names such as Momentum, Metropolitan, Guardrisk, and Eris Properties, play a pivotal role in fulfilling this purpose.

We are dedicated to rehumanising every interaction with our clients, stakeholders, communities, and society. At the heart of this commitment is our understanding that we are a business with heart. By infusing genuine care into every action and word, we demonstrate our unwavering value for our communities, stakeholders, and society.

Disclaimer

As an applicant, please verify the legitimacy of this job advert on our company career page.

Role Purpose

The primary purpose of this role is to support the Head of Actuarial Function of Momentum Metropolitan Life and the Momentum Group in performing various functions related to the Actuarial Function scope of responsibilities. In addition, the role will be responsible for driving several projects related to product management and model governance in the group.

The successful candidate will interact closely with the product, actuarial and financial reporting teams and prepare reports for senior management and board subcommittees. The successful candidate will report to the Group Head of Actuarial Function.

Requirements

Registered with Actuarial Society of South Africa or a similar professional body of the Actuarial Profession

Qualified Actuary: Fellow or Associate (FASSA, AMASSA or equivalent)

At least 5 years of post-qualification experience with suitable exposure to financial reporting

Duties & Responsibilities

Support the Head of Actuarial Function of Momentum Metropolitan Life in preparing reports for management and board committees (including statutory reports)

Accountable for development and implementation of product development, pricing and product management and monitoring across Momentum Metropolitan Life

Accountable for the development and management of model governance processes in Momentum Metropolitan Life

Responsible for various ad-hoc projects related to the Actuarial Function role including matters related to product management, valuation bases, solvency and financial reporting

Review and reporting on various matters related to the Group Actuarial Function

Work closely with Head of Risk and Capital Analytics as required on projects related to required capital, stress testing and solvency projections

Competencies

Adhering to the values of Momentum Group

Sound understanding of long-term insurance products and product management is preferable

Financial reporting experience (IFRS, EV, SAM) in a life insurance company is highly preferable

Strong communication, presentation and report writing skills

Be able to build strong relationships with colleagues from across the business, and maintain a deep awareness of the regulatory and commercial environment

Strong project and process management skills, and the ability to engage effectively with multiple stakeholders and senior management.

An attention to detail and a dedication to technical excellence

Able to manage stress and competing demands and deadlines

Strong desire to add value and drive development

Self-starter - can work independently

Ability to critically challenge ideas

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