Actuarial Manager

What will you do?

CAREER OPPORTUNITY
A position for an Actuarial Manager exists in the Santam Re Actuarial team, based at Santam Re’s Bellville (Cape Town) offices.

JOB DESCRIPTION
This role plays a crucial role in calculating reserve sufficiency, analysing and managing risk exposure, constructing information packs to support the reinsurance Buying team and supporting strategic decision-making processes.
The Actuarial Manager must utilise mathematical, statistical, and analytical skills to assess complex data, develop models and provide valuable insights to optimise our reinsurance portfolio, while also managing and leading a team of actuarial professionals.
This role reports to the Head of Actuarial within Santam Re.

PRINCIPLE ACCOUNTABILITIES INCLUDE: 
•    Support the Head of Actuarial in leading and managing the actuarial team, fostering development and ensuring alignment with company objectives

•    Ensure accurate Reserve calculations, adhering to regulatory standards and actuarial best practices

•    Provide strategic insight and analysis to senior management

•    Collaborate with underwriting, claims, technical accounts, finance and reinsurance buying teams to assess risk exposure, monitor and report on risk appetites and enhance actuarial reinsurance models

•    Provide actuarial input for internal and external audits, maintaining high standards of accuracy and transparency

 
Further team accountabilities include:
Data Analysis and Modelling:
•    Gather, clean and analyse large sets of data related to insurance claims, premiums, and other relevant variables
•    Utilise statistical techniques and software tools to identify patterns, trends and anomalies in data

Reporting and Analysis:
•    Prepare actuarial and Risk Appetite reports and presentations for internal stakeholders, management and regulatory authorities

Information packs to reinsurance Buying department.
•    Prepare updated and accurate information packs to reinsurance buying department

Research and Development:
•    Stay updated on industry trends, market dynamics and regulatory changes affecting reinsurance operations
•    Conduct research on actuarial methodologies, models and techniques to enhance analytical capabilities and improve decision-making processes
•    Identify opportunities for innovation and process improvement within the actuarial function

What will make you successful in this role?

QUALIFICATIONS AND EXPERIENCE
•    Nearly/Newly Qualified actuary 
•    5+ years insurance reserving experience
•    Excellent report writing and presentation skills
•    Advanced computer literacy skills, e.g. ResQ, VBA
•    Leadership skills within own team and cross-functionally
•    Substantial data manipulation experience with advanced knowledge of Microsoft Excel
•    Cape Town based or willing to relocate.

KNOWLEDGE
•    Knowledge of Reserving methods
•    Knowledge of Catastrophe modelling advantageous
•    Knowledge of specialist reserving software (eg. ResQ) advantageous
•    Experience in a reinsurance environment would be advantageous
•    Experience in a short-term insurance environment would be advantageous

Our commitment to transformation

Santam is committed to diversity, inclusion, and belonging. As an equal opportunity employer, we encourage applications from candidates of all backgrounds, including persons with disabilities. We are dedicated to neuro-inclusivity and fostering a workplace where everyone can thrive. 

Take the next step in your career—apply now and be part of a company that’s shaping the future of insurance. This is Freedom!