Actuarial Analyst / Actuary - Johannesburg
About Discovery
Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best.As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.
About Discovery Life
Discovery Life is an ever growing fast-paced and dynamic environment that provides innovative risk assurance to individual clients. This environment thrives on customer engagement and customer experience as well as mutually beneficial relationships with our brokers and other stakeholders.It is important for our employees to provide a world class service to our internal and external clients, thereby ensuring long and sustainable relationships.
Key Purpose
The purpose of this role is to assist the senior actuary with reinsurance and capital reporting responsibilities for Discovery Life and Invest. The key tasks include quarterly capital reporting to the Prudential Authority (PA), and contributing to the Own Risk and Solvency Assessment (ORSA), focusing on Pillar 1, Embedded Value (EV) and IFRS 17 risk metrics, providing insights that support management’s decision-making.In addition, the role offers exposure to technical reinsurance management, including treaty interpretation, monthly reporting, and engagement with key stakeholders.
Areas of responsibility may include but is not limited to:
- Assist in the preparation and submission of quarterly capital reporting to the Prudential Authority (PA).
- Support the Own Risk and Solvency Assessment (ORSA) process, with a particular focus on:
- Pillar 1 regulatory capital requirements
- Embedded Value (EV) metrics
- IFRS 17 risk metrics
- Measurement and assessment of internal liquidity capital metrics
- Collaborate cross-functionally with teams including Valuation, Risk, and Product Development to provide insights and analysis to inform management decisions on capital adequacy and business strategy.
- Assist in improving the capital management framework and risk reporting processes.
- Strengthen the life and investment product offering through capital optimisation and risk insights.
- Contribute to technical reinsurance management, including:
- Monthly reporting on reinsurance arrangements
- Interpretation and application of reinsurance treaties
- Develop and maintain existing reporting models
Education and Experience
Essential:
- Matric with mathematics
- Honours degree in Actuarial Science or Mathematical Statistics from an accredited institution
- Strong actuarial exam progress, must have completed at least 11-12 board exams.
Advantageous:
- SQL or other coding experience
- Working experience within the Life Insurance industry.
- Qualified or nearly qualified actuary
- Intermediate proficiency in MS Word, MS Excel, MS Outlook.
- Effective communication skills
- Strong problem solving and analytical skills.
EMPLOYMENT EQUITY
The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.