An exciting opportunity for an actuarial specialist exists within the Actuarial team of Momentum Insure . The individual will be responsible for assistance with regulatory reporting, reserve setting, reinsurance and forecasting within Momentum Insure.
Requirements
- Minimum 3 to 5 years' experience in an actuarial environment within the Short-term Insurance industry
- A degree in Actuarial Science
- Good progress with ASSA (or similar professional body) examinations
- Microsoft Office skills
- SQL skills and experience with ResQ would be an advantage
Risk Reporting
- Identify areas of non-compliance and implement requirements necessary
- Quarterly Capital Dashboard
- Quarterly Risk Dashboard
- Calculation of capital requirements as per the standard formula
- Completion of quarterly and annual QRT
- Assisting legal and compliance team with completion of qualitative return
- Any ad-hoc FSCA/PA information requests
- Assist with audit/HAF review process of all returns
- Calculate quarterly reserves using sound actuarial techniques (eg. Chain ladder, Average cost per claim, Bornhuetter Ferguson, Mack)
- AURR calculations
- Assist in year-end audit on technical provisions (including preparing and validating data)
- Analysis of change of technical provisions
- Assist in developing a model to be used as part of the ORSA and normal financial soundness review processes to assess economic capital for comparison with regulatory capital
- Assist in building and maintenance of forecasting models to assist in the planning, budgeting, capital management and ORSA scenarios in the business
- Assist in the implementation of IFRS 17
- Assist with IFRS 17 Reporting
- Preparing reinsurance renewal data
- Monitoring claims for potential recoveries
- Assist in ensuring claims are reported to reinsurers and submitting adjustment figures timeously to ensure payment of recoveries due
- Ascertain impact of various reinsurance structures on capital requirements in collaboration with reinsurance broker
- Assist with input and insight into financial results and risk reports
