Absa Is Looking For South African Actuarial Students: Apply For The Absa Actuarial Student III Programme

Finance January 18, 2024

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Perform complex IFRS 17 actuarial production processes under limited supervision to support sound management of business performance and financial risk.

Absa Is Looking For South African Actuarial Students: Apply For The Absa Actuarial Student III Programme

Job Summary

Oversight of the IFRS 17 actuarial process for the insurance entities within the group. Assisting with the continuous improvements in the automation of the IFRS 17 process and driving the integration of the actuarial output into the sub-ledger.
Refining and preparing monthly IFRS 17 business packs for the entities

Key Accountabilities

Perform complex IFRS 17 actuarial production processes under limited supervision to support sound management of business performance and financial risk.

Processes may include:

1. Analytics and financial reporting (to ensure accurate financial reporting and support management decision making):

Managing time lines across the various teams in order to produce the IFRS 17 results within timelines
Performing the actuarial month end reporting process.
Review results in prophet and ensure that judgement decisions are signed-off by the entity when required
Support audit and formal reporting
Reporting and analysis from prophet information and collaborating with sub-ledger team to produce reports that add value
Assisting and improving the processes within Prophet Enterprise.
Assisting in the NPA process where needed
Providing Budget support where needed
Preparation and analysis of data as inputs to actuarial calculations such as reserving
Production of management information

2. Running models (to ensure accurate financial reporting and support management decision making) at an advanced level:

For inputs to processes such as reserving, capital, pricing or business case modelling
Development of and maintenance of advanced spreadsheet models which may include planning and capital and risk modelling
Development of and maintenance of actuarial open platform software complex models

3. First line quality / assurance review and checking (to ensure accuracy of outputs for sound business decision making and ensuring a robust control environment).

4. Minimum Requirements