Cape Town

Johannesburg

Graduate

Part Qualified

Associate

Senior Actuary

Life

Health

Property & Casualty

Reserving

Reporting

Reinsurance

Risk

Python

Modelling

Experience Analysis

Coding

Pricing

Valuation

Capital

Longevity

Consulting

Excel

ResQ

Power BI

If you have a passion for niche short-term insurance and possess a strong technical background in the short-term insurance or reinsurance industry, Compass Insure with an office in Johannesburg, South Africa has a role just for you. This position is available on a permanent full-time basis commencing at the earliest possible date as an Actuarial Analyst within the Actuarial & Analytics unit.You can look forward to:<ul><li>Reserving – Assisting with the determination of reserving (and reserving related) inputs for quarterly and annual SAM regulatory and IFRS17 financial statement reporting purposes.</li><li>Group reporting – Assisting with the validation of key reserving inputs for IFRS17 Group reserving as well as financial planning purposes.</li><li>Planning – Assisting with providing key reserving related input for local financial planning/projection purposes.</li><li>Stakeholder engagement – Engaging with key stakeholders surrounding reserving related matters. Participation in IFRS17 and SAM audits together with preparation of audit input and handling of queries where necessary.</li><li>Reporting – Assisting with various reserve reports and analyses to various stakeholders as well as providing input on regulatory returns such as the SAM Quantitative and Qualitative Returns as well as the FSCA’s Conduct of Business Return.</li><li>Data quality management – Assisting with the Compass Insure data quality management function.</li></ul>You come equipped with:<ul><li>Degree in Actuarial Science.</li><li>A minimum completion of ASSA A1 & A2 Technical exams / IFoA equivalent.</li><li>Minimum 3 years of non-life insurance experience (preferably within a reserving role).</li><li>Working knowledge of technical requirements in short term insurance or reinsurance surrounding reserving methodologies and SAM as well as IFRS17 valuation principles.</li><li>Proven track record of the application of actuarial principles and methods.</li><li>Knowledge of the South African Regulatory environment for non-life insurers.</li><li>Demonstrated ability to distil and communicate complex financial information and reports to various parties.</li><li>Ability to critically assess and review own work.</li><li>Computer skills – Advanced MS Office, Intermediate to advanced proficiency in SQL and Power BI. ResQ reserving software knowledge would be advantageous.</li><li>Proficient in English.</li></ul>Employment Equity:Employment Equity South African Citizens as qualified by the Employment Equity Act will be given preference in relation to the company’s Employment Equity Plan. A relevant work permit is required if a foreign national or non-South African citizen applies for the role.What We Offer:Atmosphere: You will find an international working environment with short decision channels, an open feedback culture, and a sense of community shaped by mutual esteem and a readiness to help.Benefits: Structured onboarding, flexible working hours, benefits superior to those of the collective agreement, as well as modern offers for personal development, health management, and work-life balance are just some of our benefits.Prospects: You contribute your specialist and methodological expertise and we offer you fresh input and the opportunity to further develop your potential – including room to come up with innovative ideas and act on them!

Terms of Trade Actuarial AnalystCompany: Munich ReLocation: Johannesburg, South AfricaCareer Level: 3We are looking for an Actuarial Analyst for our Terms of Trade Team reporting to the Head of Experience Analysis and Terms of Trade in the Life Department.Are you a nearly qualified or fully qualified Actuary who enjoys being part of a team of highly skilled and motivated colleagues? Are you able to relate well to people from different backgrounds and cultures? Do you enjoy working with large data sets to derive assumptions? If you answered yes to the above then this might be the opportunity for you.Your Role:<ul><li>Update and maintain all Terms of Trade for MRoA</li><li>Maintain the highest standard of technical competence & ensuring global and local guidelines are followed</li><li>Work with the regional office to determine Terms of Trade</li><li>Support overall Life Business strategy & risk management</li><li>Communicate with retail and group pricing teams as well as the valuations team on assumption setting</li><li>Partner with business to provide valuable insight to influence strategy and long term decision making</li></ul>Your Profile:<ul><li>TASSA/equivalent actuarial qualification or nearly qualified Actuary</li><li>2+ years’ experience deriving assumptions and/or doing experience studies</li><li>Work with complex data and work in a team environment</li><li>Experience with the South African life insurance products and market dynamics</li><li>Numerical, statistical and analytical skills</li><li>Excellent programming skills in actuarial/statistical programming languages</li><li>VBA/Excel</li><li>SQL Server</li><li>R/Python or any relevant software programme</li></ul>Our Benefits:<ul><li>Life and Health Benefits</li><li>Retirement Benefits</li><li>Hybrid working environment</li><li>Bonus Scheme</li><li>Employee Assistance Program</li><li>Global Mobility</li></ul>At Munich Re, we embrace and value the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation of our open culture and spirit of partnership. It shapes how our teams are built and cultivated and how we are supported and developed. And at the center of this interaction is each of us.

Life Actuarial Pricing AnalystCareer Level: 3Company: Munich ReLocation: Johannesburg, South AfricaWe are looking for an Actuarial Analyst for our Technical Pricing Team which falls under the Life Retail Product and Pricing department. The Life Retail Product and Pricing department ensures profitable reassurance business across South Africa and Sub Saharan Africa. This adds to the value of new business and embedded value by pricing appropriately, monitoring experience and managing new product innovations.Established in 1968, Munich Reinsurance Company of Africa serves life and non-life reinsurance clients across the Sub-Saharan Africa from our hub in Johannesburg. Together with our colleagues globally, we influence, collaborate and can be relied on to tackle the world’s most pressing challenges.Your Role:<ul><li>Perform experience reviews and pricing for all regions</li><li>Price new business, new initiatives and product development</li><li>Ensure that Munich Re’s actuarial and risk management standards are met</li><li>Lead/participate in various projects undertaken by the life team such as tenders, specific client projects and experience analyses</li><li>Coordinate and collaborate with client managers, underwriting, claims, valuations and operations to deliver product propositions</li><li>Support the client management strategy e.g. perform research for and accompany client managers as the pricing expert</li><li>Support Head of the Retail Pricing team and the Head of the Retail team in providing high quality actuarial consulting service to clients in the area of pricing, product development and risk management</li><li>Ensure optimal process efficiency</li></ul>Your profile:<ul><li>4+ years relevant experience in Life reinsurance or insurance business</li><li>Newly or nearly qualified actuary</li><li>Pricing experience with sound technical understanding of Life products including mortality and morbidity rate setting and experience</li><li>Good experience with actuarial modelling packages, Excel, VBA, SQL, Power BI</li><li>Good verbal, communication, presentation and negotiation skills</li></ul>At Munich Re, we embrace and value the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation of our open culture and spirit of partnership. It shapes how our teams are built and cultivated and how we are supported and developed. And at the center of this interaction is each of us.

Key Duties and Responsibilities<ul><li>Support the calculation and review of US GAAP and IFRS reserves for the AIG entities in Africa;</li><li>Deliver annual and quarterly annual actuarial reserving studies;</li><li>Support the development of processes, procedures, and metrics to enable the businesses to comply with Pillar II of SAM;</li><li>Support the calculation of the SAM Technical Provisions;</li><li>Assist in model validation of Standard Model for SCR and MCR calculations and provide technical support for the Own Risk and Solvency Assessment;</li><li>Support the deliverables and engagement for the annual year-end audit;</li><li>Support in any project or ad-hoc requirements as needed;</li><li>Ensure adherence to audit requirements;</li><li>Ensure adherence to regulatory and compliance requirements.</li></ul>Pricing and portfolio management support<ul><li>Provide country support for business analytics;</li><li>Provide support to budget loss ratio estimates and financial planning;</li><li>Collaborate with local and regional Product teams, Finance, Marketing, Underwriting, Claims, and IT to ensure all useful data elements required for monitoring, pricing, and competitive analysis are complete, accurate, adequate, and timely;</li><li>Coordinate with others within and outside the department on various pricing and data-related projects, as needed;</li><li>Provide support in the development of solutions and corrective action plans in partnership with product leadership with respect to short-term and long-term portfolio strategies, as needed.</li></ul>Reimagining insurance to make a bigger difference to the worldAmerican International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world’s most far-reaching property casualty networks. It is an exciting time to join us — across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.Welcome to a culture of belongingWe’re committed to creating a culture that truly respects and celebrates each other’s talents, backgrounds, cultures, opinions, and goals. We foster a culture of inclusion and belonging through our flexible work arrangements, diversity and inclusion learning, cultural awareness activities, and Employee Resource Groups (ERGs). With global chapters, ERGs are a cornerstone for our culture of inclusion. The diversity of our people is one of AIG’s greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability, or any other legally protected categories.AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities. If you believe you need a reasonable accommodation, please send an email to candidatecare&#64;aig.com.Preference will be given to previously disadvantaged candidates in line with the company’s Employment Equity Plan. Specific preference will be given to people with disabilities.Functional Area:AC - ActuarialEstimated Travel Percentage (%): No TravelRelocation Provided: NoAIG South Africa

If you have an interest in Reinsurance or Insurance, Hannover Re Group Africa (Pty) South Africa (ZA) has a great role available as a Actuarial Business Development Assistant in Business Development (Inforce Management), in the Life and Health business.You can look forward to:Premium Reconciliations:Setting up a model and performing checks on reinsurance premiums based on needs identified by the responsible BD manager. Co-ordinating the checks with the internal teams, such as pricing and corporate actuarial.Group Pricing:Maintaining the group pricing tool and training the relevant BD members in its use.New Business Approval:Ensuring that the template filled out by the responsible BD manager is adequately stored. Improving the template based on team feedback.In Force Management:Ensuring that each open treaty is analysed by the responsible BD at agreed intervals as per the template. Analysis stored and any identified items communicated to the relevant internal teams. Updating the template based on internal feedback. Liaising with the Corporate Actuarial team to agree time frames for any additionally flagged treaties.Treaty Documents:Keeping a register of treaty wording and Addenda which are due to be finalised; following up with the responsible BD manager on outstanding treaties; setting up Adobe Sign process.Regulatory:Creating and maintaining a library of relevant government notices, professional guidance notes, and other regulation. Informing the BD team of the key features of any changes or new legislation.System Administration:Filing all key documents, such as treaty wording, Addenda, approval emails, and rate tables in respect of all active treaties in Doxis (document management warehouse). Actively use ConneX for meeting notes, events, and opportunity creation. Liaising with the international ConneX team to resolve queries. Identifying and arranging required training for the Life team as needed. Encode new treaties and required changes to existing treaties on Re-7 (SAP based system).Legacy Clean-up:Creating and maintaining documents summarising key features for each open treaty, with focus on those with numerous Addenda.Ad Hoc responsibilities:Creating and maintaining a system that contains a summary of treaty features, with a focus on those missing or containing outdated treaty conditions as compared to the latest Hannover Re standard treaty wording. Liaising with the responsible BD manager to ensure that treaty terms are updated.You come equipped with:Essential:<ul><li>Degree in actuarial science (good exam progress with technical subjects - at least 3 exemptions)</li><li>0 - 2 years' working experience</li><li>Microsoft: Word, Excel (intermediate to advanced), Outlook (Intermediate)</li><li>Good understanding and ability to apply actuarial principles and methods.</li></ul>Advantageous:<ul><li>Technical work experience in life insurance/reinsurance</li><li>Experience using a SAP based or similar system for treaties</li></ul>Employment Equity:Employment Equity South African Citizens as qualified by the Employment Equity Act will be given preference in relation to the company’s Employment Equity Plan. A relevant work permit is required if a foreign national or non-South African citizen applies for the role.

About MillimanMilliman is among the world’s largest providers of actuarial and risk management services. Globally we provide consulting services to clients in life insurance, property and casualty insurance, healthcare, and employee benefits and pensions. Today, Milliman has more than 4 600 employees and more than 60 offices worldwide. We are driven by a shared commitment to innovate and inspired by a common mission: to serve our clients to protect the health and financial well-being of people everywhere.About Milliman South AfricaOur offices in Cape Town and Johannesburg provide coverage across sub-Saharan Africa, focusing on life, non-life and micro-insurance. We work closely with our international offices, combining the expertise of our local offices with that of our colleagues across the world. Our service offerings include risk and capital management, financial reporting, product development and new market entry.Location: Cape Town or Johannesburg, South AfricaWe are looking for diverse, bright-minded individuals who are interested in pursuing a career in the actuarial consulting industry to join our dynamic team in South Africa. This is an ideal opportunity to work and collaborate with our team of experts from across the world in a fast-paced, challenging and rewarding environment.Desired experience and professional qualifications<ul><li>0-1 year of professional experience</li><li>Bachelor’s or Honours degree in Actuarial Science by the end of 2024</li><li>Strong progress with ASSA exemptions / exams.</li><li>Additional consideration will be given to individuals from a previously disadvantaged background.</li></ul>Desired competencies<ul><li>Thorough understanding of actuarial subjects studied thus far</li><li>Keenness to learn and ask questions</li><li>Analytical and communication skills</li><li>Driven and self-motivated</li><li>Basic knowledge of MS Excel</li><li>Basic programming knowledge (e.g. R or VBA)</li></ul>

Imagine a role where you can progress your actuarial career, work closely with actuarial experts and directly contribute to the success of the company.Your focus in the role will be on the calculation of the solvency capital requirements under the Solvency Assessment and Management (SAM) framework for the legal entity Swiss Re Corporate Solutions South-Africa (SRCSA) including the valuation of best estimate technical provisions.The main responsibilities are:<ul><li>Perform the quarterly and annual solvency capital requirement calculations including market value balance sheet, SAM capital requirements, technical provisions and own funds</li><li>Prepare all actuarial SAM reporting including populating the actuarial components of the Quantitative Reporting Templates (QRTs) and documenting the solvency position results in the Own Risk and Solvency Assessment (ORSA) report</li><li>Perform the technical provisions transformation required from US GAAP/IFRS 17 to local GAAP</li><li>Closely cooperate with major internal partners (Finance/Accounting, Risk Management, Claims, Underwriting, Pricing) including quarterly reporting on key issues to provide early warning signals to senior management</li><li>Play an active role in the actuarial team in supporting all actuarial requests of internal and external stakeholders including external/internal auditors as well as regulators, and address them on a timely basis</li><li>Inter-regional coordination with other Swiss Re actuarial teams collaborating in various projects, such as supporting actuarial process development including the implementation of IFRS 17 accounting standards</li><li>Detailed ad-hoc portfolio reviews and analyses as required including management support</li></ul>About the teamYou will be part of the Swiss Re Corporate Solutions actuarial team based in Zurich. We are responsible for determining the technical provisions at adequate levels meeting all local statutory and US GAAP as well as IFRS 17 requirements for the region Europe and Middle East. In addition, the team is supporting Swiss Re Group in all actuarial risk management aspects with respect to Swiss Re Corporate Solutions.Bringing strong interpersonal skills and ability to prioritize, you are bound for success in this role. In addition, you bring:Must haves:<ul><li>Bachelor's degree in Actuarial Science, with the candidate making good progress in the actuarial exams from Actuarial Society of South Africa (ASSA) or any other equivalent Actuarial Body</li><li>2 – 4 years relevant experience in P&amp;C (non-life) insurance business</li><li>Experience and good understanding of capital calculations under Solvency Assessment and Management (SAM)</li><li>Experience and good understanding of reserving methods for P&amp;C business</li></ul>Nice to have:<ul><li>Knowledge of US GAAP and IFRS 17 financial principles</li></ul>About usSwiss Re is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer. We anticipate and manage risks, from natural catastrophes and climate change to cybercrime.Swiss Re Corporate Solutions is the commercial insurance arm of the Swiss Re Group. We offer innovative insurance solutions to large and midsized multinational corporations from our approximately 50 locations worldwide. We help clients mitigate their risk exposure, whilst our industry-leading claims service provides them with additional peace of mind.Our success depends on our ability to build an inclusive culture encouraging fresh perspectives and innovative thinking. Swiss Re Corporate Solutions embraces a workplace where everyone has equal opportunities to thrive and develop professionally regardless of their age, gender, race, ethnicity, gender identity and/or expression, sexual orientation, physical or mental ability, skillset, thought or other characteristics. In our inclusive and flexible environment everyone can bring their authentic selves to work and their passion for sustainability.

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