IFRS17 Valuations Specialist

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Job Summary

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

Job Description

Processes may include:

1. Analytics and financial reporting (to ensure accurate financial reporting and support management decision making):

• Managing timelines across various teams in order to produce the IFRS 17 results within the deadlines required.

• 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.
• 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 or business case modelling

• Development of and maintenance of advanced spreadsheet models which may include planning and risk modelling.
• Development of and maintenance of actuarial open platform software for complex models.

 

3. 1st line quality/assurance review and checking (to ensure accuracy of outputs for sound business decision making and ensuring a robust control environment).

 The following software applications/skills are a requirement for the role at a beginner-to-intermediate level:

• Prophet Professional
• Prophet Enterprise
• Microsoft Excel
• Analytical
• Detail Orientated
• Ability to work under tight timelines and across multiple tasks with limited supervision
• Efficient time management

 The following software applications/skills will be beneficial for the role at a beginner-to-intermediate level:

• Sufficient knowledge of the IFRS 17 reporting standard.
• Data modelling platforms e.g. DCS, Python, SQL etc.
• Demonstrate an aptitude to enhance efficiencies, improve current processes and design new robust processes.

• AI skills

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

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