Ref no : 09042021MAC

LOCATION: Centurion

CLOSING DATE & TIME: 11/23/2021 11:55 PM

Purpose of the Job: Reporting to the Senior Manager: Actuarial Claims Administration, the successful incumbent will be responsible to manage the provision of actuarial support and advice to RAF business.

Key Performance Areas;

Calculation Models for “Loss of Earnings” and “Loss of Support” Benefits for Motor Vehicle Claims

Participate in the development and assessment of models for loss of income compensation calculations and reports using appropriate techniques to ensure that the data is accurate, and model processes are effective, efficient, high quality, well documented and verifiable.
Ensure that the actuarial results are correctly interpreted and applied by internal and external users.

Research and Development of Loss of Income Calculation Methodologies and Models
Research on state of the art modelling and calculation techniques and methodologies.
Implement new and state of art calculation techniques and methodologies.
Participate in the review and update underlying calculation assumptions and inputs to ensure relevance and appropriateness.

Claims Risk Management
Provide support to the claims administration team with developing reporting matrices and identifying risk management strategies that can be used in managing claims risks.
Provide support to the claims administration team with modeling and establishing forecasts for claims volumes and settlements to monitor and improve operational efficiencies.

Actuarial Experts Advice to the Internal and External Stakeholders
Review loss of income calculations done by colleagues or other experts and external actuarial service providers.
Review research on loss of income calculations and reports done by other experts and external actuarial service providers.

Accident Data Management and Forecasting
Participate in the development of models to forecast the number of accidents and claims.
Manage accident data capturing, analysis and reporting from different sources.

Monthly Claims Statistics for Management Reporting
Extract data from IT claim system(s).
Provide results in statistical and graphical form to provide credible monthly, quarterly, half-yearly and annual management reporting.

Actuarial Investigations
Provide investigation support on various aspects of the loss of income calculation inputs including, distributions of income by age group, geographical location, employment sectors, etc.
Investigate the potential impact of various assumptions underlying loss of income calculations such as discount rates, mortality and morbidity rates, contingencies, earnings progression, inflation, taxation, remarriage, inheritance and accelerated benefits, etc.
Ensure that the actuarial investigation results are correctly interpreted and applied.

Risk Management
Manage actuarial department risks.
Identify the types of risks associated with actuarial.
Control the risk on an ongoing basis.

Stakeholder Relations Management
Develop and maintain ethical relationships with internal and external stakeholders.
Forge constructive partnerships and manage relationships on behalf of RAF.

People Management
Encourage an open culture for the continuous improvement of a high performance culture.
Ensure proper planning and allocation of consistent workload within the unit.
Conduct periodic employee’s performance reviews and assessments.

Qualifications and Experience;

Bachelor’s Degree or Advanced Diploma @ NQF Level 7 related qualification in Actuarial Science/ Mathematics.
Qualified Associate/ Fellow Actuary of (ASSA/ IFoA/ SoA/ CAS) or any other internationally recognized Actuarial Board.
Post graduate Diploma/ Honours Degree/ Professional Qualification Degree @ NQF Level 8 will be advantageous.
Relevant 6 – 8 years’ experience in an Actuarial environment with experience on a manager/ supervisor level.
At least two (2) years in loss of income damages quantification.
Technical and Behavioral competencies required
Strategic capability and leadership.
Results orientation.
Business and financial acumen.
Brand and Stakeholder orientation.
Organizational resilience.
Team Resilience.
Network and Alliances.
Talent Management.
Change Management.
Excellent verbal and written communication skills.
Strong Microsoft Excel, Access and MS Word skills.
Complex problem identification, solving and decision making.
Sound actuarial judgment.
Strong technical background in reserving/ valuations.
Strong planning and time management of both own and direct team’s work.
Strong focus on executing plans and delivering results.
Pro-active approach and keen to take ownership of work.
Independent and creative in analyzing business results, developing appropriate solutions or alternatives to problems and effectively communicating related issues and results to management.
Result oriented and ability to work under pressure.
Work well in team-oriented, collaborative environment.
Excellent analytical, problem solving and data manipulation skills.

Total cost to company applicable to this position is minimum R911 075.00 per annum, negotiable.

NB: “RAF offers Total Employment Cost packages with no additional contributions from the Employer, successful candidates are required to structure their packages in a manner that will suit their needs”.

Closing date: 23 November 2021

Applications can be forwarded to the Recruitment Officer at Eco Glades; email address is
Indicate the name and the reference number for the position you are applying for on the subject line
Do not submit copies of qualifications and ID as these will be requested from shortlisted candidates on the interview date
Submit a short CV with a maximum of 5 pages
Please indicate your current salary and salary expectations if considered for the position.

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