Head: Valuations IAH Johannesburg CBD

📌 OPPORTUNITY OVERVIEW:-Rand Mutual Admin Services is actively recruiting for a Head: Valuations IAH position in Johannesburg CBD. This is an excellent opportunity for professionals in the Insurance sector looking to advance their careers.

🎯 IDEAL CANDIDATE PROFILE:-We are seeking talented individuals with the following profile:• Experience Level: 8 years • Educational Background: Bachelor or equivalent• Industry Focus: Insurance• Location Preference: in Johannesburg CBD

💼 WHY THIS ROLE MATTERS:-The Head: Valuations IAH position is an important role within the Insurance sector, offering meaningful career development and professional growth opportunities.

📈 CAREER DEVELOPMENT INSIGHTS:-This role in Insurance offers valuable career progression opportunities aligned with your experience level and professional aspirations.

📋 APPLICATION GUIDANCE:-When applying for this Head: Valuations IAH position, ensure your CV highlights:• Relevant experience matching the 8 years requirement• Educational qualifications in line with Bachelor• Specific achievements in the Insurance field• Any certifications or specialized training

🌍 SOUTH AFRICA JOB MARKET CONTEXT:-The Insurance sector in South Africa continues to show strong demand for skilled professionals. This position represents a valuable opportunity in the current job market.

Job Title: Lead: Valuations IAH

Company: Rand Mutual Admin Services

Salary: Market Related Job Type: Permanent Reference: RM-932

Vacancy Details

Employer: Rand Mutual Admin Services

Introduction

The Head: Valuations IAH will report to the Executive Actuary, Corporate Actuarial and will manage a team of actuarial professionals. The role involves ensuring timely and precise preparation of life and non-life actuarial valuations. Additionally, the position entails overseeing the development and maintenance of the actuarial valuation system and data integrity. Furthermore, the incumbent will provide insights to the business and produce reports for the executive and various committees.

WHAT YOU WILL DO?

Actuarial Function Management

Supervise the actuarial teams working on the COID and Life Business, and offer support to the AIT (IT) business. Oversee monthly valuation data preparation and review. Ensure the application of ORSA methodology and SAM processes and procedures. Maintain actuarial and valuation data integrity. Respond promptly to actuarial queries from regulators (FSB/SARB/SARS). Plan, budget actuarial matters and maintain a submission timetable (financial projections). Inform management on actuarial regulatory issues (solvency and capital requirements) for the Group. Ensure summary of returns and actuarial issues are reported to management (EXCO/BOARD/AUDIT etc). Prepare and present actuarial matters to the Board and advise the Board and its sub-committees. Develop pricing models, validate assumptions, and ensure pricing sufficiency (COID and Non-COID products). Set premium rates. Develop and maintain actuarial systems. Monitor experience (reserving and pricing). Manage capital, solvency, and investment through liability matching. Manage the end-to-end reinsurance process (negotiating treaties, facilitating transfers, setting new strategies, risk mitigation, and annual renewals). Prepare actuarial specific areas in all Group regulatory returns (monthly, quarterly, annual, ORSA, and SAM reporting).

Staff Management and Monthly Reporting

Manage, supervise, and train staff, including actuarial teams on the COID and Life Business and support to AIT (IT) business. Manage relationships within the company and with stakeholders (e.g., Statutory Actuary). Lead and motivate a team to achieve targets. Provide monthly reports on Key Performance Indicators for the actuarial function. Monthly report to FM on the status of accounts and returns for EXCO submission. Effectively report and assess problem areas.

Regulatory Compliance

Ensure all work meets required standards and regulations. Translate RMA’s position into standards by assessing methodology, assumptions, and products, and align standards to RMA. Adhere to all company policies and procedures. Ensure timely submission of various periodical reports, including highlights from previous month’s reports.

WHAT YOU WILL GET IN RETURN?

We offer great opportunities for personal and professional development in a stable company with a 132-year legacy. The role comes with a competitive salary package and various benefits. Flexible work arrangements (combination of remote and in-office). You will also be part of a dedicated team that values teamwork and collaboration.

Turnaround Time

The shortlisting process will only begin after the application due date. The time taken to complete this process will depend on your progress and the availability of managers. If you do not receive a response within 21 days, please consider your application unsuccessful.

Our Commitment to Transformation

In line with Rand Mutual Assurance’s employment equity plan and its goals, preference may be given to candidates from under-represented designated groups.

Requirements

Minimum Qualification

NQF Level 7: Bachelor’s degree in Actuarial Science Qualified Actuary Member of Actuarial Society/Institute of Actuaries

Minimum Experience

Minimum 8 years in an insurance regulatory environment Minimum 5 years in an actuarial environment with specific experience in life valuations and life products Proven experience in valuations, product management, and strategy development.

Knowledge and Skills Required

Advanced Excel proficiency Essential insurance knowledge Reporting experience Valuation experience Experience in both life and non-life insurance Knowledge of Insurance Acts (long and short term), including SAM, IFRS17 Actuarial guidelines Experience leading and managing a team