Graduate Trainee – Actuarial Job at Export Credit Insurance Corporation of South Africa Soc Ltd

WHAT THE GRADUATE TRAINEE WILL BE DOING

Insurance reserves

• Collect, review, recon and maintain data for the purposes of calculating actuarial technical insurance reserves and IMU liability for financial statements and for regulatory returns.
• Assist with performing data analysis work in preparation for all calculations.
• Assist in preparing the quarterly actuarial valuation report.

Capital requirements

• Collect, review, recon and maintain data for the purposes of calculating capital requirements using the regulatory standard formula and ECIC’s economic capital formula to determine solvency position.
• Assist with performing data analysis work in preparation for all calculations.
• Assist in updating and recalibrate economic capital calculation.
• Assist in preparing quarterly and annual qualitative returns (QRTs), and actuarial components of the annual quantitative returns (QRR).
• Assist in preparing quarterly capital management report.

Pricing

• Assist in the development and maintenance of pricing models for insurance products.
• Assist in rate reviews and pricing updates based on experience analysis.
• Assist in performing data validation, cleansing, and preparation for pricing purposes.
• Assist in ensuring pricing models and outputs comply with internal governance and regulatory requirements.
• Collaborate with underwriting, finance, and risk teams to support business decisions

Own Risk and Solvency Assessment (ORSA)

• Assist with ORSA solvency projections and stress/scenario testing.

Asset and Liability matching (ALM)

• Assist with ALM projections.

Reporting & Compliance Support

• Assist with the maintenance and updating of risk registers.
• Assist in the tracking and reporting of Key Risk Indicators (KRIs).
• Contribute to the preparation and maintenance of Combined Risk Management Plan (CRMPs).
• Maintain and regularly update the unit’s findings tracker, ensuring timely follow-up and resolution of identified issues.
• Provide general reporting support to ensure accurate and timely submission of risk and compliance-related information.

WHAT WE EXPECT FROM YOU

• Bachelor’s degree in Actuarial Science, Mathematics, Mathematical Statistics, or a closely related quantitative discipline, and be actively pursuing actuarial board examinations;
• Must be a South African Citizen
• ECIC welcomes applications from persons with disabilities (Must provide a medical certificate confirming nature of the disability).