Senior Actuarial Specialist (Financial Services / Insurance / Risk / Actuarial) – Cape Town, South Africa

Reference No. THJ

Reference: THJ



Job Description:

Our client, a leading financial services institution is seeking a Senior Actuarial Specialist to join their team.



Responsibilities:

 

Risk and Capital Reporting pertaining to Credit Risk

  • Liaise with input providers from various entities within the Group, including asset management and banking businesses.
  • Check the quality and reasonability of credit risk input data received.
  • Consolidate the Group’s credit risk results as input into the internal capital model.
  • Calculate the credit risk components of the Company and Group SCR for SAM and Solvency II.
  • Consolidate the Company’s banking regulatory capital requirements.
  • Summarise the Company’s credit risk results in the agreed formats and assist with drafting the Board and Committee papers pertaining to credit risk.
  • Provide credit risk information
  • Maintain the process diagrams and documentation underlying the company’s credit risk calculations
  • Provide credit risk information as required by rating agencies and regulators from time to time.


 

Stress and Scenario Testing

  • Provide input to determine the appropriate parameters for stress and scenario testing for both institutional and retail credit risk.
  • Liaise with the Groups credit risk entities to conduct stress and scenario testing and review the results for reasonability.
  • Enhance the regulatory (SAM) stress and scenario testing methodology and model where appropriate.


 

Business Planning

  • Understand the drivers, risks and management actions implicit in the credit risk business plan, with a particular emphasis on producing capital and risk exposure projections.


 

Thought leadership for Credit Risk Modelling

  • Work with the line 1 & line 2 credit risk specialists to align the methodology, models and processes for calculating regulatory and internal capital requirements and risk exposures.
  • Improve and automate existing credit risk reporting processes with the aim of improving overall efficiency.
  • Assist with ad hoc regulatory requests and Managed Separation project work relating to credit risk.


 

Requirements: Qualification and Skill

  • Completed at least 11 actuarial exams or have a similar financial qualification
  • 4 years’ actuarial or similar experience
  • Credit risk or BASEL III experience
  • Strong business acumen
  • An individual who has strong analytical skills, excellent communication skills and the ability to interact effectively with people at all levels of the organisation
  • A highly motivated and energetic self-starter who is good at working with complex tasks under tight deadlines.