Analyst: Corporate Actuarial

The Road Accident Fund’s mission is to provide appropriate cover to all road users within the borders of South Africa; to rehabilitate and compensate persons injured as a result of motor vehicle accidents in a timely and caring manner; and to actively promote safe use of our roads.

Purpose of the Job: Reporting to the Senior Analyst: Corporate Actuarial, the Analyst: Corporate Actuarial is responsible to support the Manager to manage and provide actuarial service advice to the RAF business.

Key Performance Areas

Valuation of outstanding claims provisions.

• Assist in valuation of outstanding claims provisions.
• Assist with producing the valuation report.

Development and management of Funding Model

• Assist development and management of Funding Model.
• Data manipulation to state of quotation of loss of earnings or loss of support benefits – especially the model input.
• Running model and reporting on results

Accident data management and forecasting

• Assist in accident data capturing, analysis and reporting from different sources.
• Assist in developing models to forecast the number of accidents.
• Assist in producing the accident forecasting report.

Loss of income calculations

• Assisting with calculations and checking the quotation results actuarially for reasonability

Assist with monthly claims statistics for regions and management

• Extracting data and data reports from IT claim system(s).
• Assist with report compilations as and when required
• Ad hoc reinsurance and actuarial work
• Monthly statistics for reporting
• Assist with report compilations as and when required

Assist with Actuarial reports to FSB

• Assist with FSB Actuarial reports.
• Assist management with calculations.

Actuarial investigations

• Assist with investigating the mortality and morbidity experience to help in setting the quotation of loss of earnings and loss of support benefits, statistical and regression analysis.
• Calculate reinsurance recoveries based on treaty terms

Reporting

• Aid in the maintenance of functional reporting systems, for management, project or performance reporting.
• Ensure regular and periodic reports are sent to the Senior Analyst for review and submitted as and when required to provide progress updates and/or inform management decisions.
• Maintenance and storage of proposals, briefings, presentations, reports, and other documentation and providing management information both verbally and in report format.

Stakeholder management

• Assist Assist with maintaining proactive and progressive relationships with key stakeholders.
• Assist with inquiries and requests for information from both internal and external stakeholders.
  Effective stakeholder management.
• Aid in the maintenance of relationships with vendors, service providers or procurement teams and ensure that all relevant procured items are invoiced and paid on time.
• Assist with presentation of data findings in an easy-to-read and understood format.

Continuous improvement & innovation

• Research industry best practice/innovations and identify where technology can be utilised in systems and processes.
• Understand job specific tasks and their requirements.
• Share ideas to improve the way of working.
• Contribute to creative sessions and offer ideas to the team.
• Participate in initiatives to improve service delivery.

Qualifications and Experience

• Bachelor’s Degree/Advanced Diploma in Actuarial Science/ Mathematics/ Investment Management/ Risk Management related qualification.
• Relevant 4 years’ experience in an Actuarial environment.

Technical, Managerial, and behavioral competencies required

•  Planning, Organising and Coordinating
• Personal Mastery
• Judgement and Decision Making
• Ethics and Values
• Client Service Orientation
• 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.
• Independent and creative analysis of business results
• Excellent analytical, problem solving & data manipulation skills.

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”.

The Road Accident Fund subscribes to the principles of employment equity and preference will be given to People with Disabilities.

Applicants who have not received any correspondence from us within six weeks from the closing date can consider themselves unsuccessful

Security Vetting shall be conducted on all prospective employees

It is the applicants’ responsibility to have foreign qualification evaluated by the South African Qualification Authority (SAQA) and to provide proof of such evaluation.