Actuarial Basis and Assumptions Setting Manager

Apply by : We're on the lookout for energetic, self-motivated individuals who share our passion for service in the banking industry. To be part of the journey, follow the steps below: 1. To see what life at Capitec is all about and complete a short assessment, please click here! 2. Once you have completed the above finalize your application by clicking apply below Purpose Statement To own and be accountable for the basis-setting framework, operating model, governance and controls - deliver robust and controlled assumptions through experience investigations, assumption development, impact assessment and governance processes - to coordinate basis-setting delivery across the Valuations and Modelling Department, establishing basis methodology, recommend final assumptions and optimise the basis-setting operating model. To be accountable for the operating domain (the basis-setting framework and assumptions portfolio), owning the basis-setting methodology, governance authority, operating model, final basis recommendations, and cross-functional coordination across basis-related activities. Education (Minimum) Honours Degree in Actuarial Science or Mathematics Education (Ideal or Preferred) Actuarial Society of South Africa Technical Member (TASSA) / Actuarial Society of South Africa Fellow (FASSA / CERA) Knowledge and Experience 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: • 10+ years of post-qualification 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 Additional Information Clear criminal and credit record Capitec is committed to diversity and, where feasible, all appointments will support the achievement of our employment equity goals.