Actuarial Basis and Assumptions Setting Manager

In brief

Here is the job description rewritten into the mandatory structure: **Overview** This role is for an Actuarial Basis and Assumptions Setting Manager at Capitec Bank. The position entails leading the process for setting and managing actuarial assumptions across the Valuations and Modelling department. It also involves overseeing the overall basis-setting framework, encompassing methodology, governance, and the operating model, with a focus on ensuring accuracy, data support, and appropriate controls. **What you will do** * Lead the process used to set and manage actuarial assumptions across the Valuations and Modelling department. * Be responsible for ensuring assumptions are accurate, well-supported by data, and governed through appropriate controls and approval processes. * Analyse experience data. * Develop and review assumptions. * Assess business impacts. * Present recommendations to governance forums. * Oversee the overall basis-setting framework, including the methodology, governance, and operating model. * Coordinate basis-setting activities with teams across the business. * Provide final assumption recommendations. * Drive continuous improvements to the way assumptions are developed and managed. **Requirements (from the original advert)** **Education Minimum** * Honours Degree in Actuarial Science or Mathematics * Masters Degree in Data Science or Statistics **Knowledge** * Advanced assumption-setting methodologies, best-estimate principles, experience analysis, credibility assessment and dynamic basis strategies. * Basis-setting operating models, annual planning, governance gates, ownership models, data readiness, dependency tracking and controlled production processes. * Experience database ownership, Insurance Data delivery models, validation controls, sign-off evidence, maintenance governance and future product database requirements. * Python-based actuarial applications, controlled automation, documentation automation and technology-enabled process improvement where relevant. * Life insurance products, claims experience, policyholder behaviour, expenses, investment assumptions, IFRS 17, SAM, capital, forecasting, pricing and economic valuation requirements affected by assumptions. * Impact assessment methods including actual versus expected experience, individual basis change testing, analysis of surplus feedback, basis change impacts, IFRS valuations and budget impacts including impact on earnings emergence. * Basis governance, control design, model readiness, implementation dependencies, audit walkthroughs, HAF sign-off processes, peer review of insurance bases and ORSA adverse scenario principles. * Regulatory, IFRS 17, SAM, capital and management reporting requirements relevant to actuarial assumptions and outputs. **Experience** * 8 + years of actuarial or insurance finance experience, including significant experience in assumption setting, basis analysis, experience investigations, impact assessment and governance. * Proven experience leading and owning basis-setting operating models, annual basis plans, governance gates, ownership models, data readiness, experience investigations, assumption development and final basis recommendations. * Demonstrated experience owning assumption pack frameworks, basis change registers, impact dashboards, executive packs, ALCO/management decision-support material, basis-setting reports and HAF sign-off processes. * Proven experience applying advanced actuarial judgement to credibility, trends, sensitivities, business mix, operational changes, short-term market events, external benchmarks, financial impacts, pricing implications, regulatory implications and strategic trade-offs. * Significant experience designing and overseeing controls over data readiness, experience investigations, assumption calculations, documentation, approvals, model implementation, scenario testing, reconciliations, post-implementation checks and experience database maintenance. * Experience owning or leading basis-setting applications, controlled automation, governance workflows, and process improvement initiatives. * Experience providing audit walkthroughs, peer review of insurance bases, ORSA adverse scenario input and governance evidence. * Demonstrated ability to coordinate complex basis-setting projects with valuations, modelling, data and finance teams. **Skills** * Decision making skills * Influencing Skills * Negotiation skills * Planning, organising and coordination skills **Who should apply** This role is suited for an experienced actuarial professional with a minimum of 8 years in actuarial or insurance finance, particularly with significant exposure to assumption setting, basis analysis, and governance. The ideal candidate will hold at least an Honours Degree in Actuarial Science or Mathematics, or a Masters Degree in Data Science or Statistics. They should possess advanced knowledge of assumption-setting methodologies, life insurance products, and relevant regulatory frameworks, with practical experience in Python-based actuarial applications. Strong leadership skills, a proven ability to manage complex basis-setting operating models, and proficiency in decision-making, influencing, negotiation, planning, and coordination are essential. **Deadline** Not specified **Reference** Original posting: https://www.myjobmag.co.za/job/actuarial-basis-and-assumptions-setting-manager-capitec-bank Source: myjobmag

Summary drafted with AI assistance from the original advert. The advert itself is the authority — how we use AI.

At a glance

• At least 8 years of experience.

• Python
• IFRS

Extracted automatically from the advert; confirm requirements on the original listing.

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