AVBOB, AFRICA’S LARGEST MUTUAL ASSURANCE SOCIETY PROVIDING A ONE-STOP FUNERAL INSURANCE AND BURIAL SOLUTION, HAS A VACANCY FOR: MANAGER: ACTUARIAL SERVICES (CORPORATE)
PURPOSE OF THE JOB:
This role is responsible for the first line actuarial life insurance valuations (Financial Soundness Valuation (FSV)), Solvency Assessment and Management (SAM) and IFRS 17) in the Society. A team of five actuarial staff (combination of two actuarial specialists and three actuarial analysts) reports to this manager who is responsible for the coordination and management of the staff and the activities of the department. The incumbent is primarily tasked with the production of valuation results in line with financial and regulatory reporting standards. The position reports into a General Manager. Additionally, the incumbent coordinates the actuarial systems design and function, oversees the optimisation of systems and procedures and coordinates projects across a number of disciplines to achieve objectives. Additionally, the professional performs, researches and advises across the business as an expert in the field.
KEY PERFORMANCE AREAS:
· Management of a team of 5 actuarial staff responsible for all first line FSV, SAM and IFRS 17 valuations. This includes, but is not limited to:
AVBOB was established in Bloemfontein in 1918 and has since grown into Africa’s largest Mutual Assurance Society providing a one-stop funeral insurance and burial service. Currently more than 3,8 million lives are insured by AVBOB.
AVBOB has three operating divisions:
AVBOB Insurance - offers a comprehensive range of funeral polices and has recently introduced the new Cashback Life insurance policy. All lives insured under an AVBOB policy receive FREE funeral benefits if AVBOB is appointed to conduct the funeral.
AVBOB Funeral Service - a countrywide network of more than 150 professionally run funeral agencies.
AVBOB Industries - factory which is based in Bloemfontein manufactures a quality range of coffins, caskets and wreaths.