Moving Heads Personnel is an owner managed business and has been in operation since January 1997.
Reports to General Manager: Life and Actuarial
6 direct reports
Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Policies and Policy Standards. Understand and manage risks and risk events (incidents) relevant to the role.
Support General Manager: Life and Actuarial to execute his/her duties and responsibilities. Ensure a sound relationship with the regulators is maintained, and to monitor and manage the solvency of the life entities. This particularly includes monitoring, managing and reporting on the relevant risks, which includes reserving risk, shareholder value risk and solvency risk. The responsibility stretches across all Life insurance entities within the company.
Liability valuation and financial reporting
• Ensure an effective the liability valuation, regulatory capital calculation and embedded value calculation function is in place and ensure adherence to relevant actuarial guidance and compliance with the requirements of local regulations
• Obtain Statutory/Appointed Actuary approval as to the accuracy and completeness of the reserve and capital calculations at interim and full-year reporting
• Support the Finance function during the monthly, interim and year-end financial reporting process by providing Finance with the required reserving and regulatory capital information and disclosures
• Attend the Group Actuarial Committee meetings and ensure all meeting documentation is provided in line with the Committee’s annual calendar, and that action items are addressed by working with the Valuation team (or any other individuals/teams) to deliver the required documents on time
• Support the Financial Control function in the production of the regulatory returns to the Regulator and industry bodies on a quarterly basis, and that sign-off by the Principal Officer or other designated officials are obtained and submission of the returns occurs on or before deadline dates.
• Ensure complete and accurate data are produced and used in the liability, capital and embedded value calculations and the experience investigation analysis; ensure reconciliations with financial information and movements analysis are performed to confirm the accuracy and completeness of the data; ensure data accuracy is monitored and discrepancies fixed with the assistance of Management Information and Operations
• Ensure a thorough economic and demographic basis review is performed regularly (at least annually) and the results are fed back into setting the basis used for liability, capital, pricing and embedded value calculations
• Ensure at least annual analyses of the surplus and embedded value earnings are conducted and that any findings are feedback into business operations and decisions.
Accountability: People management
• Manage direct and indirect reports according to the Performance Development requirements and values.
• Design and implement a strategy and operating model for the effective execution of duties
• Participate in the design of Life entity strategies as well as that of WIMI.
• Assist with the development of a high-performing team through informal coaching and mentoring to junior team members.
• Approve leave requests for direct reports and manage resource planning.
• Motivate direct reports and ensure that their efforts are recognised.
Education and Experience Required
• Fully qualified actuary (FASSA/FIA/FFA)
• NQF Level 6: B Degree, B.Com or B.Sc. degree with specialisation in Actuarial or Statistical science
• 3 years post-qualification actuarial work experience, preferred in Life Insurance (Technical)