Internships

Absa is Looking for an Actuarial Student in Sandton, South Africa

Closing Date: Not Specified

Absa is Looking for an Actuarial Student in Sandton, South Africa

Location: Sandton. Type: Full time. Requisition ID: R-15958670

Empowering Africa’s tomorrow, together…one story at a time.

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job SummaryOversight 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

Job Description

Key accountabilities

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

Also Check: [x2 Capitec Bank Bank Better Champion, KZN and Free State]

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

  • Must have completed minimum 4 examinations
  • Valuations experience essential
  • IFRS 17 working experience preferred/ willing to teach

Education

Bachelor’s Degree: Actuarial Science

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised

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