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.<\/p>\n
SASRIA SOC LIMITED
\nSasria, a state-owned company, is the only short-term insurer in South Africa that provides affordable
\nvoluntary 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.
\nSasria has a dual mandate \u2013 legislative mandate that directs our day-to-day business operations, and
\na 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.
\n
\n<\/b>Vision<\/b>
\n\u201cTo protect the assets of all South African against extraordinary risks\u201d<\/p>\n
Position Title: Risk and Actuarial Intern \u2013 2 Year Fixed Term Contract.
\n
\n<\/b>Mission<\/b>
\nThe vision will be achieved via our mission of driving sustainable and vibrant business by:
\n\uf0b7 Balancing shareholder value creation with having a positive social impact;
\n\uf0b7 Providing excellent customer service;
\n\uf0b7 Being clear and consistent in our communication;
\n\uf0b7 Developing the skills and capacity of own employees;
\n\uf0b7 Improving our current strategic current strategic partnerships, and establish new ones; and
\n\uf0b7 Providing innovative and relevant products;<\/p>\n
Core Values<\/b>
\nThe following values underpin Saria’s pursuit of its stated vision and mission:
\n\u2022 Professionalism – we will treat our stakeholders \u2013 i.e. customers, employees, and shareholders –
\nwith respect and dedication while remaining accountable to them;
\n\u2022 Integrity – we will conduct ourselves in a manner that is fair, transparent and ethical, and uphold
\nhigh levels of equality and trust;
\n\u2022 Teamwork \u2013 in the performance of our tasks we will be guided by the ideals of unity of purpose,
\ncooperation and mutual respect;
\n\u2022 Innovation – we will create opportunities for creativity and learning and encourage same amongst
\nour employees; and
\n\u2022 Customer Centricity – We strive to meet and exceed our customer’s expectations.<\/p>\n
ROLE DESCRIPTION<\/b>
\nJob summary statement\/purpose
\nThe 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.
\nquantification 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).
\nUpon completion of the programme the graduate would have acquired the following skills:<\/p>\n
1.Risk Function Operations<\/b>
\nAssist with:
\n\uf0b7 The writing, reviewing and implementation of risk management policies;
\n\uf0b7 Ensuring an effective and efficient Risk Management department.
\n\uf0b7 Providing support on the annual Risk and Control Self-Assessment, Strategic Risks, Key<\/p>\n
Risk Indicator and Risk Appetite workshops.<\/b>
\n\uf0b7 The monitoring of the Key Risk Indicator Assessments performed by management monthly
\nand validation of the assessments with appropriate and sufficient evidence;
\n\uf0b7 Maintaining the loss data collection system, investigation of losses (root cause analysis) and
\nreporting such losses.
\n\uf0b7 Maintaining the fruitless and wasteful expenditure (F&W) register, investigations of F&W
\nand reporting on F&W.
\n\uf0b7 The development and assessment of mitigation strategies and monitoring tools.
\n\uf0b7 The embedding of risk culture and creating an aware culture within the organization with\u00a0respect to risk and decision making.\uf0b7 Proactive system improvements on Risk Management System.
\n\uf0b7 Monthly risk champion meetings (attending meetings, keeping minutes, preparing for meetings and taking part in the meetings)
\n\uf0b7 Monitoring of company strategic objectives.
\n\uf0b7 Monitoring of open actions and ensuring these are adequately addressed and completed in time.
\n\uf0b7 Providing the annual combined assurance plan for business and monitoring the plan.
\n\uf0b7 Preparation of monthly, quarterly and annual reports.
\n\uf0b7 Quarterly preparation of departmental performance information.
\n\uf0b7 Sasria insurance policies (renewal, preparation of claim forms, endorsements etc);
\n\uf0b7 Research on risk management and insurance-related activities and new innovations.
\n\uf0b7 Identification of emerging risks.
\n\uf0b7 Performing any other reasonable tasks in line with the role, as and when required by the\u00a0Line Manager.<\/p>\n
2. Actuarial Function Operations: Capital Modelling and Risk Reporting<\/b>
\n\uf0b7 Perform calculation and reporting of risk metrics for use in management reporting
\n\uf0b7 Perform monthly market and credit risk valuations
\n\uf0b7 Perform quarterly regulatory capital requirement calculations
\n\uf0b7 Perform quarterly economic capital requirement calculations
\n\uf0b7 Assist with ORSA process (sensitivity analysis, scenario modeling, reverse stress testing, capital modeling, financial projections, etc.)<\/p>\n
3. BEHAVIOURAL COMPETENCIES\/ATTRIBUTES:<\/b>
\n\uf0b7 Excellent self-motivation skills
\n\uf0b7 Keen attention to detail
\n\uf0b7 Analytical and creative problem-solving skills
\n\uf0b7 Excellent organizational skills
\n\uf0b7 Ability to work accurately under pressure
\n\uf0b7 Interpersonal communication and presentation skills
\n\uf0b7 Sound written and verbal communication skills
\n\uf0b7 Ability to work autonomously, however collaborate with team where necessary<\/p>\n
4. QUALIFICATIONS and EXPERIENCE:<\/b>
\nMinimum:
\n\uf0b7 Actuarial degree or similar and a minimum of 3 actuarial exemptions<\/p>\n
Knowledge<\/b>
\n\uf0b7 Expertise on trend analysis and forecasting
\n\uf0b7 Modelling in relation to scenario analysis and stress testing
\n\uf0b7 Knowledge and understanding of the Enterprise Risk Management principles and philosophy<\/p>\n
Skills and Competencies<\/b>
\nTechnical Skills
\n\uf0b7 Computer literacy
\n\uf0b7 Business arithmetic including percentages and decimals.
\n\uf0b7 Business data processing principles as applied to financial record keeping.
\n\uf0b7 Project Management<\/p>\n
Behavioural skills<\/b>
\n\uf0b7 Good problem solving and negotiating skills
\n\uf0b7 Good written and verbal communication skills
\n\uf0b7 Basic research and investigations skills
\n\uf0b7 Good presentation skills<\/p>\n
Attributes\/values<\/b>
\n\uf0b7 Excellent self-motivation skills
\n\uf0b7 Keen attention to detail
\n\uf0b7 Analytical and creative problem solving skills
\n\uf0b7 Excellent organisational skills
\n\uf0b7 Ability to work accurately under pressure
\n\uf0b7 Interpersonal communication and presentation skills
\n\uf0b7 Sound written and verbal communication skills
\n\uf0b7 Ability to work autonomously, however collaborate with team where necessary<\/p>\n
<\/ins><\/ins>