Sanlam Life and Savings (SLS) is focused on serving our retail and corporate clients in South Africa and further developing our strategic advantages in the South African market. Sanlam Life and Savings consists of three clusters - Sanlam Corporate, Sanlam Retail Mass and Sanlam Retail Affluent. The Sanlam Life and Savings Office provides strategic direction, coordination and support to the three clusters, as well as performing governance oversight that includes assurance provided by second line of defense functions in SLS, to enable us to meet our business objectives.
Role Description
The role consolidates, prepares and analyses the Solvency Assessment and Management (SAM) calculations for Sanlam Life, one of the largest insurers in South Africa. The successful candidate will report to the Head of Regulatory Actuarial Reporting and consult widely with Actuarial Reporting product owners and senior management to align outcomes across the department. Real time mentoring and career growth opportunities are available throughout the Sanlam Group.
What will you do?
The specific tasks mainly consist of the following
- Solvency Assessment and Management (SAM) calculations for Sanlam Life
- Consolidation, analysis and strategy for Own Risk and Solvency Assessment (ORSA) scenarios
- Analysis of results to provide solvency and capital allocation insights to the business
- Engagement with senior management (including the Head of Actuarial Function and Chief Risk Officer)
- Development and provision of management information
- Effective implementation of new systems and product changes into the Regulatory Actuarial Reporting environment
- Continuous improvement and automation of existing processes
- Ad-hoc SAM related investigations and tasks, including interacting with the wider business to resolve queries and respond to regulatory requests
- Assistance with International Capital Standards (ICS) calculations and Reporting
Requirements
Qualifications:
- Qualified Actuary
- Knowledge and understanding of life insurance products
- SAM and ORSA valuations experience is desirable
- Sound knowledge of regulatory reporting requirements impacting the life insurance industry
- Strong Microsoft Excel and other data analysis software knowledge is required
- Prophet experience is advantageous
- Excellent verbal and written communication skills to manage relationships with various business stakeholders
- Ability to work independently, take initiative and meet deadlines
- Strong analytical and conceptual thinking
- Desire to gain knowledge and develop processes
- Strong technical and operational ability
- Self-motivated with a strong focus on delivering results
- Strong operational process focus
- Good attention to detail
- Innovative and conceptual thinking
- Adaptability
- Advanced computer skills
Self-development - Contributing independently
Interpersonal savvy - Contributing independently
Nimble learning - Contributing independently
Tech savvy - Contributing independently
Build a successful career with us
Were all about building strong, lasting relationships with our employees. We know that you have hopes for your future your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth. Through its four business clusters Sanlam Life and Savings, Sanlam Investment Group, Sanlam Emerging Markets, Santam, as well as MiWay and the Group Office the group provides many opportunities for growth and development.
Core Competencies
Cultivates innovation - Contributing independently
Customer focus - Contributing independently
Drives results - Contributing independently
Collaborates - Contributing independently
Being resilient - Contributing independently
Turnaround time
The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.
Closing Date : 30 June 2023
Our commitment to transformation
The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa. The Group's Employment Equity plan and targets will be considered as part of the selection process.
