Actuarial Specialist (IFRS 17)


Gauteng, South Africa


Jul 19

AVBOB MUTUAL ASSURANCE SOCIETY PROVIDING A ONE-STOP FUNERAL INSURANCE POLICIES HAS A VACANCY FOR:Actuarial Specialist (IFRS 17) Supporting the Actuarial Manager with the delivery of a comprehensive IFRS 17 modellingsolution to the businessKEY RESPONSIBILITIES Performing research of the IFRS 17 standard and related publications Performing modelling gap analyses Designing appropriate Premium Allocation Approach & General Measurement Modelvaluation methodologies suitable to a mutual insurer Model development, improvement and change control management Determining, recording, and updating key actuarial assumptions Performing financial impact assessments Work closely with the Actuarial Manager to ensure an effective and efficient IFRS 17implementation Identify areas of improvement and alignment between SAM and IFRS 17 reportingprocesses Assessment and drafting of IFRS 17 accounting position papers and implementationguidelines Design, set up and document of the IFRS 17 modelling processes to meet reporting needs,with a focus on governance and controls Applying an innovative mind-set to aspects such as automation, validation, efficiency, andcontrols in the design of cash flow engines and with assumption setting processes Assessing, rating, and implementing various vendor or building bespoke modellingsolutions in partnership with ICT and Finance Liaise with ICT, Finance, actuarial consultants and auditors to prepare for IFRS 17transition. Work with the actuarial team to enhance and improve actuarial modelling and reportingprocesses under business as usual conditions Support the Actuarial Manager to develop and refine analytical capabilities required formanaging the business under IFRS 172 Development of models and processes which will feed into the IFRS 17 resultsconsolidation. Supporting the Actuarial Manager in assessing the impact of IFRS 17 on product designand capital management Working with and providing guidance to junior team members also involved with the IFRS17 project

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The AVBOB Group (AVBOB Insurance, AVBOB Funeral Service and AVBOB Industries) is Africa’s largest Mutual Society.