JOB PURPOSE:
The purpose of the job is to provide actuarial support and advice to the
supervisory divisions in carrying out supervisory and regulatory work as
enshrined in the core mandate of NAMFISA. In addition, the Actuary
shall be assigned any other work covering research, statistics and policy
matters to which his/her professional skills are deemed relevant or
appropriate by the General Manager: Research, Policy and Statistics
(RPS).

KEY ACCOUNTABILITIES:
• Provide actuarial support and advice to the supervisory divisions
on long-term and short-term issues concerning both solo
institutions and relevant industry groups;
• Provide support in the review of policy statements, standards,
regulations and bills, where deemed relevant;
• Provide support in proposing changes and reform developments
to legislation and subordinate legislation (such as regulations,
standards, board notices, directives and circulars) to supervisory
divisions;
• Evaluate and monitor internal systems and procedures to ensure
that the objectives of the supervisory divisions and NAMFISA at
large are achieved prudently and with integrity;
• Represent NAMFISA in initiatives within the industries supervised
at the request of the General Manager: RPS, the Chief Executive
Officer, or the Registrar;
• Provide advice to supervisory divisions on matters having an
actuarial impact;
• Provide professional advice on interpretation and application of
relevant legislation.

QUALIFICATIONS AND EXPERIENCE:
• Qualified Actuary with any recognised international body or
association (e.g. Fellow of the Actuarial Society of South Africa,
Fellow of the Institute of Actuaries), plus at least 3 years’ relevant
working experience;
OR
• Near Qualified Actuary (left with 1 to 3 subjects to become a
Fellow), with at least 5 years’ experience in actuarial support.

KNOWLEDGE:
• Actuarial core technical and application subjects;
• Non-banking financial sector;
• Quantitative methods to assess risk;
• Regulation and supervision of financial services;
• International developments in financial services regulation
including Basel III and Solvency II.

SKILLS:
• Strategic Direction and Business Planning
• Governance, risk management, compliance and
information/knowledge management
• Stakeholder engagement
• Research
• Actuarial Analysis
• Macro-prudential analysis
• Micro-prudential and market conduct analysis
• Legislative, regulatory and supervisory fluency

REMUNERATION:
NAMFISA offers a market-related total cost to company package based
on work experience and qualifications. The package includes retirement
and medical aid benefits.