Head of Modelling (Actuarial): Life Insurance at Absa in South Africa

Head of Modelling (Actuarial): Life Insurance Location: Sandton Empowering Africa’s tomorrow, together…one story at a time. With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group. Job Summary Overall responsibility for Absa Life’s Actuarial models used for actuarial valuations, and reporting purposes (IFRS, SAM and Embedded Value). These include models within Prophet, Excel and other platforms. Job Description Job Description Overview of Role Provide oversight, direction and management to the modelling team. Implementation of model developments in accordance with Absa’s governance framework. Monitoring and investigation of experience variances to ensure continued appropriateness of models. Relationship management with Prophet software provider as well as the point of contact to address Prophet queries. Identify and implement initiatives to improve efficiency of prophet modelling including run times Identify and implement initiatives for alternative modelling platforms that may increase efficiency and costs. Role Requirements Qualified actuary (part qualified actuaries with appropriate experience will be considered). Extensive knowledge and experience with Life Assurance products, including reinsurance. Advanced Prophet skills. Skills in R, Python and other actuarial software platforms are highly advantageous. Experience and knowledge of IFRS17, SAM and EV Minimum 7 years work experience. Education Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required) Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank. Absa Bank Limited reserves the right not to make an appointment to the post as advertised