Internal Model Validation and Risk Management Actuary needed at Santam Insurance

What will you do?

An exciting opportunity exists for an Internal Model Validation and Risk Management Actuary at Santam. This position will be based at the Santam Head Office in Bellville and will report to the Head of the Internal Model Validation function.
The role will cover all aspects of model validation, from quantitative analyses to preparing reports for the Santam Risk Committee. A significant part of the role will also include providing actuarial support to Santam’s Group Enterprise Risk Management (ERM) function, particularly in the areas of underwriting and reinsurance.

The role will provide the successful candidate the opportunity to gain exposure to all actuarial and risk aspects across the Santam Group and will provide an in-depth understanding of Santam’s approved internal capital model.

What will make you successful in this role?

• Run quarterly validation tests to ensure that the internal models’ data, assumptions, methodologies, and implementation remain appropriate.
• Review all model changes. 
• Prepare draft validation reports.
• Review the adequacy and effectiveness of all internal model key controls. 
• Analyse the performance of the internal model and identify reasons for underperformance.
• Provide support to ERM focusing on identifying, assessing, and managing underwriting and reinsurance risk across the Santam Group.
• Perform risk deep dives supported by quantitative analyses when required.

Qualification and Experience

• Nearly/Newly Qualified actuary.
• 3 – 5 years’ actuarial experience.
• Short-term experience is valuable but not essential.

Skills

• Strong computer skills and proficient in MS Office (Excel, Access, VBA).
• Programming skills in Python would be an advantage.
• Strong communication and English writing skills.
• Excellent relationship building skills.
• Knowledge of the SAM framework.
• Inquisitive personality.
• Able to challenge management and propose own views.