Actuarial Services - Johannesburg, South Africa - Isilumko Staffing

Isilumko Staffing

Verified Company

Johannesburg, South Africa

1 week ago

Posted by:

Thabo Mthembu

beBee Recruiter

Description

Recruiting a Specialist
:
Actuarial Services for
Product Development & Actuarial Support. This is a
permanent position for
a long-term insurance company located in
Menlyn (PTA).

The main purpose of this role is to ensure the
accuracy and reliability of the products and systems from an actuarial perspective.

Duties & Responsibilities:

-
Maintain optimal system accuracy and performance from a values and functionality perspective

Provide specifications to IT team on programs used to administer business
Implement and test automation of system programs for correctness and conduct audits on the administration system
Assist with automation and integration of other Company Group divisions on the administration system
Report to management
Provide accurate and easily accessible information for optimal client servicing (TCF)

-
Contribute to product development

Contribute to inhouse pricing
Research new market developments.
Compare pricing & design of products with competitors
Test quotation packages for new products (and product reviews)

-
Maintenance of reinsurance treaties

Provide data and information to reinsurers for special projects
Compile and submit reinsurance data and premiums to reinsurers monthly
Validate profitshare calculation from reinsurers
Maintain relationships with current and potential future reinsurers

-
Monitoring of actuarial valuation data

Monitor the correctness of actuarial valuation data
Assist IT in the preparation of systems that generate actuarial valuation data
Assist with implementation of Valuation Report recommendation

-
Provide professional input & support to the Group (amendments & general advice)

Answer technical client queries escalated to Actuarial Support
Attend to ombudsman technical queries
Validate and audit amendments to policies where actuarial support is required
Assist with values and productrelated queries from other Company departments (letters to be written, values queries, and tax directive management)

-
Updating of financial transactions

Implementation of investment portfolio returns on the administration system
Perform calculations of the assets held against unit accounts for rebalancing

-
Monitoring of in-force business

Monitor and analyse inforce data
Perform experience analysis to confirm lapse assumptions and mortality/morbidity assumptions

-
Administration of Company Retail Retirement Funds

Produce annual RA certificates for mailing to clients
Validate the correctness and submission of tax directives to SARS on claims
Compilation and submission of documents and monitoring of Section 14 transfers
Submission of SARS, SARB, and other regulatory reports
Compilation of the report for the quarterly Company Retail Retirement Funds Trustee Meeting
Requirements

Formal Education