Internal Model Validation and Risk Management Actuary Cape Town, Western Cape, South Africa Internal Model Validation and Risk Management Actuary An exciting opportunity exists for an Internal Model Validation and Risk Management Actuary at Santam. This position will be based at the Santam Head Office in Bellville and will report to the Head of the Internal Model Validation function. The role will cover all aspects of model validation, from quantitative analyses to preparing reports for the Santam Risk Committee. A significant part of the role will also include providing actuarial support to Santam’s Group Enterprise Risk Management (ERM) function, particularly in the areas of underwriting and reinsurance. The role will provide the successful candidate the opportunity to gain exposure to all actuarial and risk aspects across the Santam Group and will provide an in-depth understanding of Santam’s approved internal capital model. What will make you successful in this role? Run quarterly validation tests to ensure that the internal models’ data, assumptions, methodologies, and implementation remain appropriate. Review the adequacy and effectiveness of all internal model key controls. Analyse the performance of the internal model and identify reasons for underperformance. Provide support to ERM focusing on identifying, assessing, and managing underwriting and reinsurance risk across the Santam Group. Perform risk deep dives supported by quantitative analyses when required. Qualification and Experience Nearly/Newly Qualified actuary. 3 – 5 years’ actuarial experience. Short-term experience is valuable but not essential. Skills Strong computer skills and proficient in MS Office (Excel, Access, VBA). Programming skills in Python would be an advantage. Strong communication and English writing skills. Excellent relationship building skills. Knowledge of the SAM framework. Able to challenge management and propose own views. 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 About The Company Santam is the market leader in the general insurance industry in Southern Africa. We are a large, diversified, expanding and transforming company and whilst based in South Africa, we are rapidly moving into a number of emerging markets, both in Africa and Asia. Our success is rooted in our passion for our clients and everything we do is centered on our delivery of Insurance Good and Proper. We’re about people. People drive our business so it follows that we want to recruit the best people possible whether they work for us permanently or for a short time as temporary employees. At Santam, we are committed to transformation and embracing diversity. This commitment is what drives us to achieve a diverse workplace with employment equity as a key goal to create an inclusive workforce, representative of the demographics of our society. In achieving our employment equity goals, we give preference to applicants from the designated groups in alignment with the Divisions Employment Equity targets. Our recruitment process Onboarding Step 8 You made it. Here we ensure we receive all your documents to get you onto our payroll system. Our recruitment process Advertise Step 1 Our vacancies are advertised between 3-5 days depending on the market availability of the skills required. Our recruitment process Step 2 Could take a couple of days depending on the volume and the screening process, which various according to the complexity of the role. Our recruitment process Step 3 Long listed candidates are sent to the hiring manager to review and consider for the next stage of the selection process. Our recruitment process Telephonic screening Step 4 Candidates may be contacted for a short screening interview to get to know them better and to ask any clarity seeking questions. Our recruitment process Your interview Step 5 We use a competency interview model. Interview dates will be confirmed via e-mail. During the interview you will be introduced to the panel and the process will be explained. Remain calm and sell yourself. This is our opportunity to match your skills to the job. You only get one shot! Our recruitment process Assessment Step 6 Should we like what you bring to the table, depending on the job you are being considered for, you may be invited to complete a psychometric assessment. Further employment checks are conducted the ensure the validity of your credentials. Our recruitment process Step 7 Prior to an offer being made, there may be a second interview to meet with the Head of Department.Should there be a need for any further interviews, be sure to bring the same charm that got you through your first interview. Our recruitment process Onboarding Step 8 You made it. Here we ensure we receive all your documents to get you onto our payroll system. Our recruitment process Advertise Step 1 Our vacancies are advertised between 3-5 days depending on the market availability of the skills required. Our recruitment process Step 2 Could take a couple of days depending on the volume and the screening process, which various according to the complexity of the role. Our recruitment process Step 3 Long listed candidates are sent to the hiring manager to review and consider for the next stage of the selection process. Our recruitment process Telephonic screening Step 4 Candidates may be contacted for a short screening interview to get to know them better and to ask any clarity seeking questions. Our recruitment process Your interview Step 5 We use a competency interview model. Interview dates will be confirmed via e-mail. During the interview you will be introduced to the panel and the process will be explained. Remain calm and sell yourself. This is our opportunity to match your skills to the job. You only get one shot! Our recruitment process Assessment Step 6 Should we like what you bring to the table, depending on the job you are being considered for, you may be invited to complete a psychometric assessment. Further employment checks are conducted the ensure the validity of your credentials. Our recruitment process Step 7 Prior to an offer being made, there may be a second interview to meet with the Head of Department.Should there be a need for any further interviews, be sure to bring the same charm that got you through your first interview. Our recruitment process Onboarding Step 8 You made it. Here we ensure we receive all your documents to get you onto our payroll system. TIPS&TRICKS Getting ready for your interview There is not just one way to be successful at Santam, nor is there one way to interview with us. Interviewing is a two-way process - it helps us learn about you, and it helps you learn about us, our people, and what you could do here. Santam has been officially recognised by the Top Employers Institute as a Top Employer 2024 for excellence in people practices. This is the eighth consecutive year that we have achieved this accolade. #J-18808-Ljbffr