HEAD: Capital & Balance Sheet Management (Vice President)
Moving Heads Personnel is an owner managed business and has been in operation since January 1997.
Reports TO: GM: Risk and Capital Management
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.
Overall Job Purpose
manage and guide the Capital and Balance Sheet Management team to execute their duties and responsibilities. This particularly includes monitoring, managing and reporting on the relevant risks, which includes underwriting risk, investment risk, solvency risk and liquidity risk. The responsibility stretches across all Non-Life insurance entities.
Number and level of direct reports (Maximum 7) : Key Accountabilities
Capital Modelling and Enterprise Risk Management
Ensure effective management of investment risk for all Non-life insurance entities.
Attend and participate in or lead Investment Committee meetings.
Perform and take accountability for necessary modelling work and preparing required information for meetings.
Perform and take accountability for necessary analyses to determine appropriate investment strategy. Monitor adherence to investment policy and mandates.
Review investment reports in terms of investment performance against benchmarks.
Understand investment performance calculation methodologies.
Assess and monitor the impact of asset allocation on capital requirements.
Perform and take accountability for necessary calculations and modelling to determine and project investment risk appetite.
Effective management of solvency risk and monitoring regulatory and economic capital requirements for all Non-life insurance entities
Perform and take accountability necessary calculations to determine regulatory capital requirements for all Non-life insurance entities.
Develop, maintain and improve economic capital models and methodologies, based on industry best practise.
Regularly monitor solvency position on regulatory and economic capital basis.
Executing monthly and quarterly capital reporting, for both internal and group reporting.
Support the Insurance Key Risk Owner in executing its duties to report insurance risk related metrics to the various risk committees.
Effective management of underwriting risk for relevant Non-life insurance entities
Perform necessary calculations and modelling to identify, monitor and manage underwriting risk.
This includes the work necessary for the risk appetite, thresholds and key risk indicators.
This also includes the work necessary to monitor the insured exposures by geographical local, investment and reinsurance counterparties.
Risk appetite setting and monitoring
Perform and take accountability for necessary calculations and modelling to determine and project the company’s risk profile.
Perform and take accountability for necessary calculations and modelling to determine and risk appetite, thresholds and limits.
Own Risk and Solvency Assessment (ORSA)
Partake in performing an ORSA, which includes the following:
Performing and taking accountability for necessary calculations and modelling to determine and project the company’s internal view of its solvency
Performing and taking accountability for necessary stress tests
Drafting the required documentation for the ORSA report
Participate in preparation for regulatory Solvency Assessment and Management (SAM) requirements.
Claims, premiums and other technical reserve calculations
Perform reserving calculations and assist with regulatory and financial reporting
Perform necessary calculations and modelling work to determine claims, premium and other technical reserves.
Support the finance function during quarterly and year-end financial and regulatory reporting by providing the necessary reserving and capital information and performing
necessary stress tests.
Manage direct and indirect reports according to the Performance Development
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.
Develop and maintain a team structure that is optimal, supports continuity and offers career aspiration for team members.
Perform all other duties as reasonably assigned.
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 actuarial work experience, preferred in General Insurance (Technical)
Knowledge & Skills: (Maximum of 6)
Sound judgement when making decisions (level: solid)
General analytical skills (level: advanced)
Report writing (level: solid)
Networking and relationship building (level: solid)
Management skills (level: solid)
Computer literacy (level: advanced)
Knowledge of regulatory environment (level: solid)
Knowledge of general insurance actuarial methodologies (level: solid)
Ability to work under pressure on multiple projects (level: solid)
Conflict management (level: solid)