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P&C Reserving Actuary, Johannesburg (GT, ZA)

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Swiss Re

13d ago

  • Job
    Full-time
    Mid Level
  • Data
    Banking & Finance
  • Johannesburg

AI generated summary

  • You should have over 4 years in P&C insurance, strong SAM capital calculation skills, knowledge of IFRS 17, and experience with actuarial software like SAS or R.
  • You will calculate solvency capital requirements, prepare actuarial reports, support IFRS 17 provisions, manage stakeholder requests, and conduct portfolio analyses.

Requirements

  • P&C reserving actuary with preferably more than 4 years P&C insurance experience across reinsurance or direct insurance
  • Excellent understanding of capital calculations under the Solvency Assessment and Management (SAM) including the ability to develop corresponding tools from scratch
  • Strong understanding of and experience with IFRS 17 financial principles and reserving methods for P&C re/insurance business
  • Experience in using actuarial and statistical software (for example SAS, R)

Responsibilities

  • Perform the quarterly and annual solvency capital requirement calculations including market value balance sheet, SAM capital requirements, technical provisions and own funds
  • Prepare all actuarial SAM reporting including populating the actuarial components of the Quantitative Reporting Templates (QRTs) and documenting the solvency position results in the Own Risk and Solvency Assessment (ORSA) report
  • Support the calculation of local technical provisions under IFRS 17
  • Closely cooperate with internal colleagues (Finance/Accounting, Claims, Underwriting, Pricing) including quarterly reporting on key issues to provide early warning signals to senior management
  • Manage all actuarial requests of internal and external stakeholders including external/internal auditors as well as regulators, and address them on a timely basis
  • Inter-regional coordination with other Swiss Re actuarial teams collaborating in various projects, such as supporting IFRS 17 actuarial process developments
  • Detailed ad-hoc portfolio reviews and analyses as required including management support

FAQs

What is the job location for the P&C Reserving Actuary position?

The job is located in Johannesburg, GT, South Africa.

What are the primary responsibilities of the P&C Reserving Actuary?

The primary responsibilities include performing solvency capital requirement calculations, preparing actuarial SAM reporting, supporting the calculation of local technical provisions under IFRS 17, cooperating with internal colleagues, managing actuarial requests, coordinating with other actuarial teams, and conducting detailed portfolio reviews.

What prior experience is required for this role?

Candidates should have preferably more than 4 years of P&C insurance experience across reinsurance or direct insurance.

What skills are necessary for the P&C Reserving Actuary position?

Candidates should have an excellent understanding of capital calculations under the Solvency Assessment and Management (SAM), strong knowledge of IFRS 17 financial principles and reserving methods, and experience using actuarial and statistical software such as SAS or R.

Is there a preference for candidates from certain backgrounds?

Yes, preference will be given to Employment Equity candidates.

Is there support for individuals with disabilities during the application process?

Yes, reasonable accommodations are provided to individuals with disabilities to participate in the job application or interview process, perform essential job functions, and receive other benefits.

Will Swiss Re provide feedback to all candidates?

Yes, Swiss Re provides feedback to all candidates via email.

Does the role involve working with international teams?

Yes, the role involves inter-regional coordination with other Swiss Re actuarial teams collaborating in various projects.

What qualities are sought in a candidate for this role?

The ideal candidate should be highly motivated, possess strong interpersonal and communication skills, be able to effectively prioritize tasks, and have a proactive attitude while thriving in a team-oriented environment.

What does Swiss Re emphasize in its workplace culture?

Swiss Re emphasizes building an inclusive culture that encourages fresh perspectives and innovative thinking, as well as providing equal opportunities for all employees to thrive and develop professionally.

Swiss Re helps insurers and direct clients to shoulder risks through re/insurance and other solutions.

Finance
Industry
10,001+
Employees

Mission & Purpose

The Swiss Re Group is a leading wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer. Dealing direct and working through brokers, its global client base consists of insurance companies, mid-to-large-sized corporations and public sector clients. From standard products to tailor-made coverage across all lines of business, Swiss Re deploys its capital strength, expertise and innovation power to enable the risk taking upon which enterprise and progress in society depend. Founded in Zurich, Switzerland, in 1863, Swiss Re serves clients through a network of over 70 offices globally and is rated "AA-"​ by Standard & Poor's, "Aa3"​ by Moody's and "A+"​ by A.M. Best. Registered shares in the Swiss Re Group holding company, Swiss Re Ltd, are listed in accordance with the Main Standard on the SIX Swiss Exchange and trade under the symbol SREN. We're smarter together.