Who are we?
Santam is the market leader in the general insurance industry in Southern Africa. We are a large, diversified, expanding and transforming company and whilst based in South Africa, we are rapidly moving into a number of emerging markets, both in Africa and Asia. Our success is rooted in our passion for our clients and everything we do is centred on our delivery of Insurance Good and Proper. What will you do?
We are looking for a qualified actuary to head Santam’s internal model validation function and participate in the quantitative aspects of ERM for the Santam Group and its subsidiaries.
This is a unique opportunity to get involved with a leading non-life insurance company that has an approved internal model. You will be responsible for all aspects of internal model governance and validation.
PRINCIPLE ACCOUNTABILITIES INCLUDE:
To take overall responsibility for internal model governance, including the execution and regular review of all related frameworks and policies.
To regularly perform an independent validation of the internal model, including all major and minor changes, in accordance with the Internal Model Validation Framework and Internal Model Change Policy.
To regularly analyse the performance of the internal model, and report on its performance, changes and development to the Santam Board and Prudential Authority.
Through the independent validation process, suggest areas for improvement and report on the status of efforts to improve previously identified weaknesses.
With regards to risk management, the principle responsibility of the role will be to develop and maintain an effective system to identify, assess, manage and monitor risk at Santam and its subsidiaries. What will make you successful in this role?
Responsibilities + Skills
Strong technical skills and software abilityEffective report writingStrong communicator
Qualified actuaryCERA qualification would be of value
Model validation / Model governanceKnowledge of the SAM frameworkUnderstanding of capital modelling and reinsuranceExperience in aspects of ERM