Specialist: Actuarial Services
Assupol Life Limited
Menlyn (Gauteng)
5d ago

Specification Duties & Responsibilities :

1.Maintain optimal system accuracy and performance from a values and functionality perspective

  • Provide specifications to IT team on programs used to administer business
  • Implement and test automation of system programs for correctness and conduct audits on the administration system
  • Assist with automation and integration of other Assupol Group divisions on the administration system
  • Report to management
  • Provide accurate and easily accessible information for optimal client servicing (TCF)
  • 2.Contribute to product development

  • Contribute to in-house pricing
  • Research of new market developments.
  • Compare pricing & design of products with competitors
  • Test quotation packages for new products (and product reviews)
  • Assist in the development of application forms, sales aids, premium calculators, marketing material and other product material used by Sales (in compliance with legislation and ASISA Codes)
  • 3.Maintenance of reinsurance treaties

  • Provide data and information to reinsurers for special projects
  • Compile and submit reinsurance data and premiums to reinsurers on a monthly basis
  • Validate profit-share calculation from reinsurers
  • Maintain relationship with current and potential future reinsurers
  • 4.Monitoring of actuarial valuation data

  • Monitor the correctness of actuarial valuation data
  • Assist IT in the preparation of systems that generate actuarial valuation data
  • Assist with implementation of Valuation Report recommendations
  • 5.Provide professional input & support to the Group (amendments & general advice)

  • Answer client queries of a technical nature that was escalated to Actuarial Support
  • Attend to ombudsman queries of a technical nature
  • Validate and audit amendments to policies where actuarial support is required
  • Assist with values and product related queries from other Assupol departments (letters to be written, values queries and tax directive management)
  • 6.Updating of financial transactions

  • Implementation of investment portfolio returns on the administration system
  • Perform calculations of the assets held against unit accounts for rebalancing
  • 7.Monitoring of in-force business

  • Monitor and analyse in-force data
  • Perform experience analysis to confirm lapse assumptions and mortality / morbidity assumptions
  • 8.Administration of the Carefree Life Retirement Annuity Fund

  • Produce annual RA certificates for mailing to clients
  • Validate the correctness and submission of tax directives to SARS on claims
  • Compilation and submission of documents and monitoring of Section 14 transfers
  • Submission of SARS, SARB and other regulatory reports
  • Compilation of the report for the quarterly Carefree Life Retirement Annuity Fund Trustee Meeting
  • Requirements 1. Formal Education

  • B Degree Actuarial Sciences
  • Progress with Actuarial Exams
  • Any 4 CT exams
  • 2. Experience

  • 2 - 3 years’ experience in long term insurance
  • Code of Conduct ASSA

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