Actuarial Manager

About this role

Discovery Insure, the short-term insurance arm of Discovery, is looking for an Actuarial Manager in Sandton. You will run the capital function for the business and help shape how it uses capital over the coming years.

What you’ll do

• Lead the annual budget, reforecast and multi-year financial projections, and explain what drives changes between cycles.
• Build and maintain the company’s capital plan, including dividend capacity and capital buffers against risk appetite.
• Lead the yearly ORSA process, including stress and scenario tests and the ORSA report.
• Develop and maintain the internal economic capital model and reconcile it to the SAM standard formula SCR.
• Oversee quarterly and annual regulatory solvency submissions and support engagement with the Prudential Authority.
• Manage the external audit of the capital function and make sure agreed actions are delivered on time.
• Present capital papers to the Actuarial Committee, the Board and EXCO, and work with teams across the business on data, assumptions and governance.
• Manage, mentor and develop your team and keep their work on track.

What you need

• Matric (essential).
• Bachelor’s degree in Actuarial Science (essential).
• 4 to 6 years of short-term insurance experience, including capital exposure (essential).
• Advanced SAM solvency capital modelling and ORSA experience, including stress and scenario testing.
• Experience with internal or economic capital modelling, and with IFRS and SAM balance sheet modelling.
• Sound knowledge of prudential standards (FSI and SAM) and relevant actuarial practice notes.
• Proven people management and stakeholder leadership skills.
• Advanced Excel and MS Office skills.
• Programming in SQL, Python, R or VBA (advantageous).
• FASSA, Fellow of the Actuarial Society of South Africa (preferred).
• Honours degree in Actuarial Science (preferred).
• F103 and F203 (preferred).

Is this job for you?

This role suits an ambitious actuary who is qualified or close to qualifying. You should enjoy working with senior leaders and have a strong commercial mindset. You also need to be ready to lead and develop a team.

Tips before you apply

• Have your academic records, professional certificates and any actuarial exam results ready to upload.
• On your CV, list the capital, ORSA and SAM projects you worked on, with your role and the outcome for each.
• Show your people leadership with clear examples, such as teams you managed, developed or coached.

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