MANAGER: ACTUARIAL CLAIMS ADMINISTRATION: T.A.S.K LEVEL 16

Purpose of the Job: Reporting to the Senior Manager: Actuarial Claims Administration, the successful incumbent will be responsible to manage the provision of actuarial support and advice to RAF business. Key Performance Areas Calculation Models for “Loss of Earnings” and “Loss of Support” Benefits for Motor Vehicle Claims Participate in the development and assessment of models for loss of income compensation calculations and reports using appropriate techniques to ensure that the data is accurate, and model processes are effective, efficient, high quality, well documented and verifiable. Ensure that the actuarial results are correctly interpreted and applied by internal and external users. Research and Development of Loss of Income Calculation Methodologies and Models Research on state of the art modelling and calculation techniques and methodologies. Implement new and state of art calculation techniques and methodologies. Participate in the review and update underlying calculation assumptions and inputs to ensure relevance and appropriateness. Claims Risk Management Provide support to the claims administration team with developing reporting matrices and identifying risk management strategies that can be used in managing claims risks. Provide support to the claims administration team with modeling and establishing forecasts for claims volumes and settlements to monitor and improve operational efficiencies. Actuarial Experts Advice to the Internal and External Stakeholders Review loss of income calculations done by colleagues or other experts and external actuarial service providers. Review research on loss of income calculations and reports done by other experts and external actuarial service providers. Accident Data Management and Forecasting Participate in the development of models to forecast the number of accidents and claims. Manage accident data capturing, analysis and reporting from different sources. Monthly Claims Statistics for Management Reporting Extract data from IT claim system(s). Provide results in statistical and graphical form to provide credible monthly, quarterly, half-yearly and annual management reporting. Actuarial Investigations Provide investigation support on various aspects of the loss of income calculation inputs including, distributions of income by age group, geographical location, employment sectors, etc. Investigate the potential impact of various assumptions underlying loss of income calculations such as discount rates, mortality and morbidity rates, contingencies, earnings progression, inflation, taxation, remarriage, inheritance and accelerated benefits, etc. Ensure that the actuarial investigation results are correctly interpreted and applied. Risk Management Manage actuarial department risks. Identify the types of risks associated with actuarial. Control the risk on an ongoing basis. Stakeholder Relations Management Develop and maintain ethical relationships with internal and external stakeholders. Forge constructive partnerships and manage relationships on behalf of RAF. People Management Encourage an open culture for the continuous improvement of a high performance culture. Ensure proper planning and allocation of consistent workload within the unit. Conduct periodic employee’s performance reviews and assessments. Qualifications and Experience Bachelor’s Degree or Advanced Diploma @ NQF Level 7 related qualification in Actuarial Science/ Mathematics. Qualified Associate/ Fellow Actuary of (ASSA/ IFoA/ SoA/ CAS) or any other internationally recognized Actuarial Board. Post graduate Diploma/ Honours Degree/ Professional Qualification Degree @ NQF Level 8 will be advantageous. Relevant 6 – 8 years’ experience in an Actuarial environment with experience on a manager/ supervisor level. At least two (2) years in loss of income damages quantification. Technical and behavioral competencies required Strategic capability and leadership. Results orientation. Business and fina