Our client is a large financial services conglomerate. They are looking for a Qualified Actuary to serve as Head of Actuarial Function (HAF) of their Life Insurance business. The HAF will be responsible for expressing an opinion to the Board on specified actuarial matters, as well as providing advice to the Board.

Candidates who are interested should be Fellow Actuaries who are Life Assurance Practising Certificate holders with at least 10 years’ experience in the South African Financial Services Industry. You should have an in-depth understanding of the GOI and any other Prudential Authority standards / requirements and of the South African life insurance industry.

Responsibilities will include:

• Expressing an opinion to the board of directors on the reliability and adequacy of the calculations of the Business’ technical provisions (on the prudential supervisory reporting basis and IFRS published reporting basis), and minimum and solvency capital requirements.
• Expressing an opinion to the board of directors on the appropriateness of the asset-liability management policy, the underwriting policy and reinsurance and other forms of risk transfer policy; as well as the adequacy of reinsurance and other forms of risk transfer arrangements.
• Evaluating and providing advice to the board of directors, senior management and other control functions on for example the business Investment Policy and actuarial-related matters in the ORSA.
• Reviewing and signing off on the Prudential Authority regulatory quantitative and qualitative returns.
• Attending any board meetings, board committee meetings or other meetings where required.
• Attending meetings/on-site visits and presenting to the Prudential Authority when necessary.

For more information, please contact Wilhelm.