Who are we?
The Sanlam Retail Affluent business (SRA) is dedicated to empower South Africans in the middle- and upper-income segments to be financially confident, secure and prosperous. With deep client understanding and a focus on excellence in technology, client and intermediary experiences, SRA delivers financial solutions including comprehensive financial planning, life- and disability insurance, credit solutions, savings and investments, retirement and fiduciary services that can be accessed through various platforms.
What will you do?
Under general supervision, performs assignments of actuarial-related duties such as preparing, performing and analysing actuarial research and audits. Other duties include collecting data from various databases and performing more complex mathematical calculations.
Role description and Output/Core Tasks:
The role supports the Closed Book product house through valuations of products including Funeral, Universal life and Topcover. The successful candidate will report to an actuary with substantial experience, have regular interaction with senior management and have optional engagement with business to understand and communicate profits, embedded values and other financial information, including model change impacts and other basis changes. Real time mentoring and various growth opportunities will be available.
The specific tasks will mainly consist of the following:
- Performing monthly and semi-annual valuations on Closed book products (e.g. Funeral, Universal Life and Topcover products)
- Assistance with regulatory reporting
- Continuous improvement and automation of existing valuation reporting processes
- Ad-hoc investigations and tasks, including interacting with the wider business to resolve queries and respond to reporting requests
- Embedded value (EV), SAM and ORSA-related engagement and support to the Regulatory reporting and Balance Sheet Management teams
- Assistance with Prophet model valuation methodology development and model officialisations
- Assistance with ad hoc investigations
What will make you successful in this role?
- Good progress with Actuarial studies. Preferably all CT’s completed
Experience and skills:
- Good understanding of insurance products
- Life insurance product valuations experience would be an advantage
- Prophet experience will be an advantage
- Good verbal and written communication skills to manage relationships with business stakeholders
- Ability to work independently, take initiative and meet deadlines
- Strong analytical and conceptual thinking
- Good MS Office skills (Word, Excel)
- Knowledge seeking/learning orientation
Personal attributes and Competencies:
- Strong technical and operational ability
- Strong operational process focus
- Good attention to detail
- Analytical and conceptual thinking
- Results driven
- Advanced computer skills