Sasria Internship Opportunity 2018

Sasria is committed to diversifying its staff profile in terms of its transformation agenda and encourages candidates from previously disadvantaged backgrounds to apply. Sasria will respond to shortlisted candidates. Candidates who have not been contacted within 4 weeks of the closing date can assume that their application has been unsuccessful.

SASRIA SOC LIMITED
Sasria, a state-owned company, is the only short-term insurer in South Africa that provides affordable
voluntary cover against special risks such as civil commotion, public disorder, strikes, riots and terrorism to any individual, business, government or corporate entity that has assets in South Africa.
Sasria has a dual mandate – legislative mandate that directs our day-to-day business operations, and
a broader strategic mandate, like any other business in South Africa, to make a positive contribution to transforming our industry and our country, in order to make our country a better place for all her people.

Vision
“To protect the assets of all South African against extraordinary risks”

Position Title: Risk and Actuarial Intern – 2 Year Fixed Term Contract.

Mission
The vision will be achieved via our mission of driving sustainable and vibrant business by:
 Balancing shareholder value creation with having a positive social impact;
 Providing excellent customer service;
 Being clear and consistent in our communication;
 Developing the skills and capacity of own employees;
 Improving our current strategic current strategic partnerships, and establish new ones; and
 Providing innovative and relevant products;

Core Values
The following values underpin Saria’s pursuit of its stated vision and mission:
• Professionalism – we will treat our stakeholders – i.e. customers, employees, and shareholders –
with respect and dedication while remaining accountable to them;
• Integrity – we will conduct ourselves in a manner that is fair, transparent and ethical, and uphold
high levels of equality and trust;
• Teamwork – in the performance of our tasks we will be guided by the ideals of unity of purpose,
cooperation and mutual respect;
• Innovation – we will create opportunities for creativity and learning and encourage same amongst
our employees; and
• Customer Centricity – We strive to meet and exceed our customer’s expectations.

ROLE DESCRIPTION
Job summary statement/purpose
The actuarial and risk intern will have responsibilities that span both the risk department as well as the actuarial department. For the risk department, the intern will assist the risk manager with day to day risk management (including the identifying, monitoring and reporting of risk). This will dovetail with Sasria is committed to diversifying its staff profile in terms of its transformation agenda and encourages candidates from previously disadvantaged backgrounds to apply. Sasria will respond to shortlisted candidates. Candidates who have not been contacted within 4 weeks of the closing date can assume that their application has been unsuccessful.
quantification of risk through assisting the actuarial department with risk and capital modeling (including economic and regulatory capital modeling as well as market and credit risk analyses).
Upon completion of the programme the graduate would have acquired the following skills:

1.Risk Function Operations
Assist with:
 The writing, reviewing and implementation of risk management policies;
 Ensuring an effective and efficient Risk Management department.
 Providing support on the annual Risk and Control Self-Assessment, Strategic Risks, Key

Risk Indicator and Risk Appetite workshops.
 The monitoring of the Key Risk Indicator Assessments performed by management monthly
and validation of the assessments with appropriate and sufficient evidence;
 Maintaining the loss data collection system, investigation of losses (root cause analysis) and
reporting such losses.
 Maintaining the fruitless and wasteful expenditure (F&W) register, investigations of F&W
and reporting on F&W.
 The development and assessment of mitigation strategies and monitoring tools.
 The embedding of risk culture and creating an aware culture within the organization with respect to risk and decision making. Proactive system improvements on Risk Management System.
 Monthly risk champion meetings (attending meetings, keeping minutes, preparing for meetings and taking part in the meetings)
 Monitoring of company strategic objectives.
 Monitoring of open actions and ensuring these are adequately addressed and completed in time.
 Providing the annual combined assurance plan for business and monitoring the plan.
 Preparation of monthly, quarterly and annual reports.
 Quarterly preparation of departmental performance information.
 Sasria insurance policies (renewal, preparation of claim forms, endorsements etc);
 Research on risk management and insurance-related activities and new innovations.
 Identification of emerging risks.
 Performing any other reasonable tasks in line with the role, as and when required by the Line Manager.

2. Actuarial Function Operations: Capital Modelling and Risk Reporting
 Perform calculation and reporting of risk metrics for use in management reporting
 Perform monthly market and credit risk valuations
 Perform quarterly regulatory capital requirement calculations
 Perform quarterly economic capital requirement calculations
 Assist with ORSA process (sensitivity analysis, scenario modeling, reverse stress testing, capital modeling, financial projections, etc.)

3. BEHAVIOURAL COMPETENCIES/ATTRIBUTES:
 Excellent self-motivation skills
 Keen attention to detail
 Analytical and creative problem-solving skills
 Excellent organizational skills
 Ability to work accurately under pressure
 Interpersonal communication and presentation skills
 Sound written and verbal communication skills
 Ability to work autonomously, however collaborate with team where necessary

4. QUALIFICATIONS and EXPERIENCE:
Minimum:
 Actuarial degree or similar and a minimum of 3 actuarial exemptions

Knowledge
 Expertise on trend analysis and forecasting
 Modelling in relation to scenario analysis and stress testing
 Knowledge and understanding of the Enterprise Risk Management principles and philosophy

Skills and Competencies
Technical Skills
 Computer literacy
 Business arithmetic including percentages and decimals.
 Business data processing principles as applied to financial record keeping.
 Project Management

Behavioural skills
 Good problem solving and negotiating skills
 Good written and verbal communication skills
 Basic research and investigations skills
 Good presentation skills

Attributes/values
 Excellent self-motivation skills
 Keen attention to detail
 Analytical and creative problem solving skills
 Excellent organisational skills
 Ability to work accurately under pressure
 Interpersonal communication and presentation skills
 Sound written and verbal communication skills
 Ability to work autonomously, however collaborate with team where necessary

Demographics
A South African citizen of any gender, preference will be given to an EE candidate

The role will be located in Illovo, Johannesburg

CLOSING DATE: 26 February 2018

CONTACT PERSON: [email protected]

Sasria is committed to diversifying its staff profile in terms of its transformation agenda and encourages candidates from previously disadvantaged backgrounds to apply. Sasria will respond to short listed candidates. Candidates who have not been contacted within 4 weeks of the closing date can assume that their application has been unsuccessful.