True South Actuaries & Consultants Vacancies: Actuarial Consultant in Cape Town

Company Description

True South Actuaries & Consultants is a reputable provider of actuarial services, renowned for its tailored solutions catering to a diverse array of companies and insurers. Established in 2001, we have accumulated extensive experience in delivering both statutory and advisory services to clients locally and internationally. Our steadfast commitment to excellence and integrity propels us towards creating measurable value for our clients, continually striving for enhancements in all facets of our operations.

True South Actuaries & Consultants is a distinguished provider of actuarial services, operating with a focus on delivering tailored solutions to a diverse clientele comprising companies and insurers. Established in 2001, the company has amassed extensive experience in the field, earning a reputation for its commitment to excellence and integrity in every facet of its operations.

As a leading player in the industry, True South offers a comprehensive range of services encompassing both statutory and advisory realms. Statutorily, the company holds a prominent position, providing essential services to insurers through appointments and engagements. This includes tasks such as motor vehicle maintenance and warranty plans, valuation of government compensation schemes, and offering risk management assistance under regulatory frameworks such as Solvency II and SAM requirements.

In addition to its statutory functions, True South is actively involved in advisory services, offering strategic insights and solutions to clients seeking proactive risk management and operational enhancements. The company’s advisory services cover a broad spectrum, including actuarial modernization, short-term and life insurance consultancy, process improvement initiatives, data analytics, and finance transformation projects.

True South Actuaries & Consultants operates within the financial services industry, catering to a wide range of clients locally and internationally. Despite its boutique size, with a team of 11-50 employees, the company has a global reach, servicing clients in various jurisdictions beyond its base in the City of Cape Town, Western Cape, South Africa.

The company prides itself on its client-centric approach, delivering high-quality services tailored to the specific needs and requirements of each client. With a steadfast focus on integrity and continuous improvement, True South strives to create measurable value for its clients, aiming for consistent delivery above industry norms.

True South’s core values underpin its operations and shape its interactions both internally and externally. These values include:

1. Client-Centric Excellence: True South is dedicated to delivering tailored, high-quality services with a focus on integrity and continuous improvement.
2. Actuarial Expertise: The company boasts an industry-savvy team proficient in advanced practices for impactful risk management.
3. Efficient Processes: True South emphasizes streamlined operations to enhance business focus and stakeholder value.
4. Technological Edge: Leveraging cutting-edge actuarial tools and technologies to make smarter decisions and boost performance.
5. Global Insight: Offering innovative, customized solutions in life insurance and financial services sectors worldwide.
6. Sustainable Transformation: Implementing in-depth programs aimed at long-term improvements in risk management and operational processes.
7. Collaborative Partnerships: Working closely with clients to understand their needs and achieve mutual progress.
8. Innovation Over Convention: Encouraging a culture of questioning norms to discover opportunities and drive advancement.
9. Simplicity & Value: Demystifying complexity to deliver clear, valuable results to clients.

True South Actuaries & Consultants embodies a culture of excellence, innovation, and integrity, positioning itself as a trusted partner for companies and insurers seeking expert actuarial services and consultancy.

Job Positions

Position Title: Actuarial Consultant
Location: City of Cape Town, Western Cape, South Africa
Reference Number: TSC-AC0324

The profession of actuarial science plays a crucial role in the fields of insurance, finance, and risk management. Actuaries are highly skilled professionals who analyze the financial consequences of risk and uncertainty. They utilize mathematical, statistical, and financial techniques to assess the probability and impact of future events, such as death, illness, accidents, and natural disasters, on businesses and individuals.

Here’s a more detailed exploration of the profession of actuarial science:

1. Risk Assessment and Management: Actuaries are responsible for assessing and quantifying various types of risks faced by individuals, organizations, and governments. They analyze data and develop mathematical models to evaluate the likelihood of specific events occurring and their potential financial impact. This information is crucial for making informed decisions regarding risk management strategies, including insurance pricing, underwriting, and reserve setting.
2. Insurance and Pension Planning: Actuaries are integral to the insurance industry, where they design insurance policies, determine premium rates, and assess the financial stability of insurance companies. They also play a vital role in pension planning, where they design retirement benefit plans, calculate pension liabilities, and ensure the long-term sustainability of pension funds.
3. Financial Modeling and Forecasting: Actuaries develop sophisticated financial models to forecast future cash flows, investment returns, and liabilities. These models help businesses and financial institutions make strategic decisions regarding capital allocation, asset-liability management, and risk mitigation strategies.
4. Regulatory Compliance: Actuaries ensure compliance with regulatory requirements governing the insurance and financial services industries. They are well-versed in relevant legislation and accounting standards, such as the Solvency II framework in Europe or the Financial Reporting Standards (IFRS) globally. Actuaries provide expert advice on regulatory matters and assist organizations in meeting their reporting obligations.
5. Product Development and Pricing: Actuaries contribute to the development and pricing of insurance products and financial instruments. They analyze market trends, customer demographics, and competitor offerings to design innovative products that meet consumer needs while ensuring profitability for the organization. Actuaries also conduct pricing analyses to determine appropriate premium rates based on risk assessment and market conditions.
6. Data Analysis and Statistical Modeling: Actuaries are skilled in analyzing large datasets and applying statistical techniques to extract meaningful insights. They use tools such as regression analysis, time series analysis, and machine learning algorithms to identify patterns, trends, and correlations in data. These analyses inform decision-making processes and help organizations better understand and manage their risks.
7. Communication and Stakeholder Management: Actuaries play a crucial role in communicating complex technical concepts to non-technical stakeholders, including senior management, regulators, and clients. They must possess strong verbal and written communication skills to effectively convey their findings and recommendations. Actuaries often serve as trusted advisors, providing expert guidance on risk management and financial planning strategies.

Benefits

• Competitive salary commensurate with experience and qualifications.
• Opportunity for professional growth and development within a dynamic and supportive work environment.
• Access to cutting-edge actuarial tools and resources for enhanced performance.
• Exposure to diverse projects spanning across the life and short-term insurance domains.
• Hybrid workplace model offering flexibility with remote work options.

Eligibility

• A bachelor’s degree from a reputable university in an actuarial, mathematical, or quantitative subject.
• Nearly or newly qualified Fellow of the Actuarial Society of South Africa (FASSA).
• Thorough understanding of insurance products and markets with a proven track record of excellence in delivering actuarial projects within the life or short-term insurance industry.
• Proficiency in regulatory regimes such as SAM and IFRS17.
• Experience with end-to-end actuarial valuation and reporting processes.
• Demonstrated leadership capabilities in managing and leading teams effectively.

Requirements

• Updated resume highlighting relevant academic qualifications, professional certifications, and work experience.
• Cover letter addressing your suitability for the role and outlining your motivation for joining True South Actuaries & Consultants.
• Any additional supporting documents showcasing relevant skills and experiences.

How to Apply

Interested candidates are invited to submit their applications via email to LinkedIn. Please attach your resume, cover letter, and any other supporting documents in PDF format.

Closing Date

The deadline for submitting applications is April 15, 2024. Applications received after this date will not be considered for the current vacancy.

Official Contact

For inquiries or further information, please contact True South Actuaries & Consultants:

RECEPTION
Phone: +27 21 914 6440
Address: Unit 16, Canal Edge 3, Tyger Waterfront, Bellville, South Africa
Website: http://www.truesouth.co.za

Join True South Actuaries & Consultants on LinkedIn and embark on a journey of innovation, efficiency, and impact in the realm of actuarial services and consultancy. We look forward to welcoming passionate individuals who share our values of excellence and integrity to our team!