The Risk Management Actuary supports the establishment, implementation, oversight and monitoring of the Enterprise Risk Management (ERM) framework across the Cape Town and Johannesburg offices. The jobholder promotes a risk culture conducive for best practice risk management, in line with the Company's risk philosophy and ensures ongoing staff training in risk management.
The Risk Management Actuary is actively involved in the management of insurance and market risks, develops the risk appetite framework and monitors positions against approved risk tolerance limits and capital levels. In addition, supports the Own Risk and Solvency Assessment (ORSA) process involving RGA South Africa senior management and the production of the ORSA Board Report for RGA South Africa and any related entities.
As the second line risk oversight role in RGA South Africa, the role involves using tools for identifying, assessing and managing risk, including risk incident reporting, key risk indicators (KRI) and risk and control self-assessments (RCSA).
The jobholder ensures, on an on-going basis, that the risk management objectives are met, that proper controls are in place, that risks are effectively identified and managed, and that key risks to which the firm is exposed are disclosed to appropriate stakeholders.
- Responsible for implementing ERM framework and tools at RGA South Africa, including systems and processes for identifying, assessing and managing risk, including risk incident reporting, key risk indicators (KRI) and risk and control self-assessments (RCSA).
- Responsible for providing 2nd line oversight of risk owners at RGA South Africa.
- Reports regularly to the Executive Director, Senior Risk Management Officer (EMEA), Chief Risk Officer, RGA South Africa, the Chief Risk Officer RGA EMEA, South Africa Management Team and to EMEA risk management on relevant ERM issues.
- Promotes a risk culture conducive for best practice risk management, in line with the Company's risk philosophy and ensures ongoing staff training in risk management.
- Promotes combined assurance through liaising with other second and third line functions including compliance, internal audit, IT and business continuity management.
- Works together with the Executive Director, Senior Risk Management Officer (EMEA) and the Chief Risk Officer, RGA SA to ensure that risk management policies and practices are in place that address all relevant risks facing the Company.
- Is actively involved in the oversight of insurance and market risks in South Africa business unit
- Works with South Africa business unit in the identification and resolution of identified issues with respect to insurance and market risks
- Supports the EMEA ERM team on initiatives in insurance and market risks.
- Works on the development of RGA South Africa's risk appetite framework and monitors positions against approved risk tolerance limits and capital levels.
- Ensures alignment between the risk appetite framework, the risk management strategy and the business objectives.
- Supports the South Africa Own Risk and Solvency Assessment (ORSA) process involving RGA South Africa senior management, as well supporting the production of the ORSA Board Report for RGA South Africa and any related entities.
- Submits quarterly risk assessments to RGA EMEA ERM function as these relate to RGA South Africa business unit.
- Participates in special projects, committees, and meetings as required.
- Maintains regular and predictable attendance.
- Performs other duties as required
- Qualified Actuary with a minimum of 5 years post-qualification experience
- Risk Management accreditation.
- Post-graduate or professional qualifications.
- 3-5 years of Risk Management experience.
- Work can be done within same or on occasion different time zones, which may require some extended work hours
- Some local and international work-related travel required
- Advanced ability of understanding risk factors affecting life insurance business.
- Advanced oral and written communication skills
- Advanced investigative, analytical, critical thinking and problem solving skills.
- Collaborative and comfortable working in a matrix structure with many different stakeholders.
- Ability to manage multiple projects simultaneously.
- Ability to liaise with individuals across a wide variety of operational, functional, and technical disciplines.
- Broad business knowledge.
- Able to work autonomously as part of a global team and also manage time zone scheduling challenges.
RGA Empowers Employees. It's one thing to hire smart people, it's another to empower them. This is one of the most important differences between RGA and its competitors. RGA empowers its employees to use their intelligence and creativity to find solutions for its customers. To be proactive in their approach to bringing value to our customers.