3 Nov 2020

Actuary at Absa Group

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Absa Bank Limited (Absa) is a wholly owned subsidiary of Barclays Africa Group Limited. Absa offers personal and business banking, credit cards, corporate and investment banking, wealth and investment management as well as bancassurance. Barclays Africa Group Limited is 62.3% owned by Barclays Bank PLC and is listed on the JSE Limited. The Group is one of Africa’s major financial services providers offering personal and business banking, credit cards, corporate and investment banking, wealth and investment management as well as bancassurance. The Group was formed through combining Absa Group Limited and Barclays’ African operations on 31 July 2013. Reflecting the enlarged group’s pan-African focus, the Group’s name changed from Absa Group Limited, to Barclays Africa Group Limited on 2 August 2013.

Job Summary

Responsible for providing support in terms of data, modelling and calculations to the Actuarial team to ensure delivery on valuations, profitability monitoring, capital calculations and new products. Provide support for reporting to the regulators and the Absa Group.

Perform all other duties as reasonably assigned.

Job Description

Accountability: Data and model development (30 %)

  • Perform data checks and create model point files
  • Ensure that the data reconciles with the financials and perform other data checks to ensure the data is correct and credible.
  • Liaise with Group Actuary and Statutory Actuary to ensure that the data reconciliations are signed off according to the Absa Group valuations timelines.

Accountability: Liability valuation and financial reporting (40 %)

  • Support the valuation team to perform the liability valuation, regulatory capital calculation and embedded value calculation.
  • Provide support to calculate the regulatory and published disclosures

Product Development (30%)

  • Support the execution of the product strategy in an agile manner
  • Understand the customer need and specific customer problem the business are solving for in designing product solutions that differentiates itself from the market
  • Support the design of innovative solutions that consider the end to end customer journey and policy lifecycle
  • Understand the competitive landscape and general commercial and economic environment through market research in order to help inform product design
  • Collaborate with functional support and risk areas in the product design process. This includes Customer Experience, Distribution, Underwriting, Claims, Policy Servicing, Fraud, Legal, Risk, Compliance, Technology, etc.
  • Development and reporting of key performance and experience monitoring metrics
  • Support formal product reviews
  • Analyse product profitability and recommend product design changes where necessary
  • Understand and ensure adherence to regulatory requirements and internal governance and control policies and procedures
  • Perform all other duties as reasonably assigned


Bachelor’s Degree: Actuarial Science (Required)

Method of Application

Submit your CV and Application on Company Website : Click Here

Closing Date : 3rd December, 2020


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