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Actuarial Analyst



Johannesburg, ZA

Date:  23-Nov-2021

Job Classification

REQ: 111812 - Refilwe Falatsi

Closing Date:3 December 2021

Equity Statement: Preference will be given to individuals from underrepresented groups.


Nedbank Wealth Cluster - Nedbank Insurance Division

Functional Area: Corporate Actuarial

Job Family

Risk, Audit and Compliance

Career Stream


Leadership Pipeline

Manage Self: Technical

FAIS Affected

Job Purpose

To provide actuarial solutions to internal and external clients within the insurance industry; in line with Nedbank client value proposition. The role is based within Nedbank Insurance and offers exposure to both long and short term insurance.

Job Responsibilities

  • Investigatig IFRS 17 reporting requirements for Nedbank Insurance's products.
  • Drafting IFRS 17 for Nedbank Insurance.
  • Developing and understanding the current valuation and reporting processes.
  • Testing and implementing solutions to meet IFRS17 requirements.
  • Interacting with the Nedbank Insurance Finance and Corporate Actuarial teams involved in the Nedbank Insurance IFRS 17 implementation.
  • The candidate will work with various stakeholders from Finance and Corporate Actuarial to transition the business from IFRS 4 reporting to IFRS 17 reporting.
  • Contribute to a culture conducive to the achievement of transformation goals by participating in Nedbank Culture building initiatives (e.g. staff surveys etc).
  • Participate and support corporate responsibility initiatives for the achievement of business strategy (e.g. Green Strategy)
  • Share knowledge and industry trends with team and stakeholders during formal and informal interaction.
  • Obtain buy-in for developing new and/or enhanced processes (e.g. operational processes) that will improve the functioning of stakeholders' businesses by highlighting benefits in support of the implementation of recommendations.

People Specification

Essential Qualifications - NQF Level

  • Advanced Diplomas/National 1st Degrees

Preferred Qualification

  • BSc (Actuarial Science)
  • BSc (Hons) Actuarial Science
  • MSc (Actuarial Science)

Essential Certifications

    Preferred Certifications

    Type of Exposure

    • Comparing two or more sets of information Working with a group to identify alternative solutions to a problem
    • Managing conflict situations
    • Sharing information in different ways to increase clients understanding
    • Communicating internally and external
    • Capturing data
    • Checking accuracy of reports and records.
    • Drafting reports
    • Managing customer expectations
    • Interacting with diverse people
    • Working in a fast-paced environment
    • Working in a team
    • Working with spreadsheets

    Minimum Experience Level

    • 1 -3 years in the Actuarial field.
    • Valuations experience (short-term insurance and/or long-term insurance) will be an advantage.
    • IFRS 17 knowledge will be an advantage.
    • SAM, SVM, IFRS or EV reporting
    • Prophet, DCS, ResQ or R experience will be an advantage.
    • We are looking for an actuarial student who can engage with key IFRS 17 issues under agreed deadlines.

    Technical / Professional Knowledge

    • Administrative procedures and systems
    • Banking knowledge
    • Business principles
    • Business terms and definitions
    • Data analysis
    • Microsoft Office
    • Relevant software and systems knowledge
    • Business writing skills
    • Governance, risk and controls

    Behavioural Competencies

    • Adaptability
    • Applied Learning
    • Communication
    • Collaborating
    • Innovation
    • Work Standards


    Please contact the Nedbank Recruiting Team - Refilwe Falatsi


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