Specialist: Actuarial Services - City of Tshwane, Gauteng, South Africa - Qunu Staffing

Qunu Staffing
Qunu Staffing
Verified Company
City of Tshwane, Gauteng, South Africa

2 weeks ago

Thabo Mthembu

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Thabo Mthembu

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Description

Title

  • Specialist: Actuarial Services

Department

  • Product Development & Actuarial Support

Job Type

  • Permanent

Work Level

  • Skilled

EE Position

  • No

Salary

  • Market Related

Location

  • Gauteng
  • Menlyn

Description
Purpose

To ensure the accuracy and reliability of the products and systems from an actuarial perspective.


Duties & Responsibilities:

1. 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 Assupol Group divisions on the administration system
  • Report to management
  • Provide accurate and easily accessible information for optimal client servicing (TCF)

2. Contribute to product development

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

3. Mai
ntenance of
reinsurance treaties

  • Provide data and information to reinsurers for special projects
  • Compile and submit reinsurance data and premiums to reinsurers on a monthly basis
  • Validate profitshare calculation from reinsurers
  • Maintain relationship with current and potential future reinsurers

4. 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

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

  • Answer client queries of a technical nature that was escalated to Actuarial Support
  • Attend to ombudsman queries of a technical nature
  • Validate and audit amendments to policies where actuarial support is required
  • Assist with values and product related queries from other Assupol departments (letters to be written, values queries and tax directive management)

6. Updating of financial transactions

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

7. Monitoring of in-force business

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

8. Administration of Assupol 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 Assupol Retail Retirement FundsTrustee Meeting

Requirements:


Formal Education
B Degree Actuarial Sciences

Progress with Actuarial Exams


Experience

  • 3 years' experience in long term insurance
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