Job Description

Who are we?

Sanlam Developing Markets [SDM] (a wholly-owned subsidiary of Sanlam Life Limited) is one of the top financial services providers in the South African entry-level and emerging middle market. It aims to understand the unique requirements of clients and offers a wide range of simple and affordable financial solutions that cover needs such as funeral insurance, savings for education, life cover and personal accident plans. In terms of the Sanlam Group Governance Policy, SDM is managed by the SA Retail Mass cluster, which is part of the Sanlam Life and Savings cluster within the Sanlam Group. The cluster focusses on retail products, as well as group schemes.

Role Description

Are you ready to dive into the treasure trove of legacy products and emerge as a valuations virtuoso? If you're a numbers ninja with a passion for untangling financial enigmas, we've got a role that's more thrilling than a rollercoaster made of spreadsheets and Prophet code!

We're looking for a Legacy Explorer Extraordinaire (Actuary or almost there!) to assist with valuations of Universal Life, Funeral, Risk and Savings products.

What will you do?

Output/Core Tasks include:

• Development and maintenance of SRA Prophet models (and related tools) used in the valuation process, solvency calculation and related calculations.
• Overseeing, production and consolidation of IFRS 17/9 Profit Reporting, SAM Regulatory Reporting and Analysis of Embedded Values
• Balance Sheet Management activities to manage Sanlam's investment exposure.
• Management and mentoring of actuarial students
• Assisting with strategy to convert legacy platform business to newer platforms.

What will make you successful in this role?

Requirements:

Qualifications:

• Nearly/Fully Qualified Actuary

Experience and skills:

• Good understanding of insurance products
• Life insurance product valuations experience would be an advantage
• Prophet experience
• IFRS17 experience
• Good verbal and written communication skills to manage relationships with business stakeholders
• Ability to work independently, take initiative and meet deadlines
• Strong analytical and conceptual thinking
• Good MS Office skills (Word, Excel)
• Knowledge seeking/learning orientation

Personal Attributes

Business insight - Contributing through others

Self-development - Contributing through others

Tech savvy - Contributing through others

Interpersonal savvy - Contributing through others

Build a successful career with us

We're all about building strong, lasting relationships with our employees. We know that you have hopes for your future - your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth. Through its four business clusters - Sanlam Life and Savings, Sanlam Investment Group, Sanlam Emerging Markets, Santam, as well as MiWay and the Group Office - the group provides many opportunities for growth and development.

Core Competencies

Cultivates innovation - Contributing through others

Customer focus - Contributing through others

Drives results - Contributing through others

Collaborates - Contributing through others

Being resilient - Contributing through others

Turnaround time

The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.

Closing Date : 15 September 2023

Our commitment to transformation

The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa. The Group's Employment Equity plan and targets will be considered as part of the selection process.

Sanlam