Reserving Manager

General Re Corporation, a subsidiary of Berkshire Hathaway Inc., is a holding company for global reinsurance and related operations, with more than 2,000 employees worldwide. It owns General Reinsurance Corporation and General Reinsurance AG, which conducts business as Gen Re.

Gen Re delivers reinsurance solutions to the Life/Health and Property/Casualty insurance industries. Represented in all major reinsurance markets through a network of 37 offices, we have earned superior financial strength ratings from each of the major rating agencies. We value diversity, equality and inclusion and promote a culture that supports professional and personal growth.

General Reinsurance, South Africa Branch (a subsidary of General ReinsuranceAG) is offering an opportunity for Reserving Manager in our Life Australia, UK, SA, Canada division.

The Head of Valuation and Reporting role retains responsibility for the statutory and regulatory reporting of Gen Re. An important aspect of the role is the management of the Gen Re South Africa valuation team and their delivery. The role also involves collaborating closely with other Gen Re teams in fulfilling the necessary duties as well as with international colleagues. Effective stakeholder engagement across multiple levels within Gen Re and with members of the Board of Directors and the regulator is also an important aspect of the role.

• Determine actuarial reserves for various reporting purposes
• Collaborate with finance and risk management teams to ensure accurate reporting for statutory, regulatory and tax purposes
• Review and enhance actuarial models used for valuation purposes
• Conduct annual assumption updates.

• Perform capital adequacy calculations and provide opinion on the solvency position of the company
• Prepare reports and documentation for regulatory submissions
• Provide input into the ORSA process
• Provide input and opinion on annual dividend declarations

• Assess risk exposure related to insurance products and retrocession arrangements
• Develop and recommend retrocession strategies to optimise risk transfer and capital management
• Analyse reinsurance treaties, pricing, and terms to enhance profitability

• Provide insights to senior management on actuarial matters, including profitability, financial projections and risk mitigation
• Collaborate with business development team and client managers to ensure client results are understood
• Stay informed about industry trends and changes in regulations affecting insurance business.

• Provide required input and feedback across Gen Re South Africa executive team as well as wider Gen Re regional and global executive teams.
• Providing assurance to the Gen Re South Africa board of directors with regards to the actuarial reserves and capital adequacy.
• Involvement and feedback in interactions with regulators.

We are looking for applicants that offer the following skills and experience:

• Qualified actuary with at least five years post qualification experience in life insurance or reinsurance roles
• Holding a practicing certificate, or being in the process of obtaining one, is advantageous
• Ability to lead a high-performance team, driving results and fostering innovation
• Expertise in actuarial modeling, reserving, and financial reporting
• Knowledge of regulatory reporting under SAM and Solvency II will be advantageous
• Knowledge of financial reporting under IFRS17 and USGAAP will be advantageous
• Familiarity with South African regulatory requirements (GOI and FSI)
• Excellent IT skills (MS Office, SQL Server, working with large datasets)
• Excellent skills in actuarial modelling, data and statistical analysis (Knowledge of R, Python and GGY AXIS will be advantageous)
• Strong problem-solving abilities and attention to detail
• Excellent numerical and analytical skills
• Excellent verbal and written communication skills including the ability to convey complex concepts to non-actuarial stakeholders
• Strong interpersonal skills with an ability to work effectively as part of a team, deal with people at all levels and in all areas of the business and engage with clients
• Consistent pursuit of excellence in execution and delivery
• Self motivated with a flexible attitude and enthusiasm for the role
• Able to work under pressure in meeting internal and external deadlines

Human Resources

General Reinsurance Africa Ltd.

(Reinsurer licensed to conduct composite insurance business)

2nd Floor, Waterway House North, 3 Dock Road V&A Waterfront,

Cape Town, 8001 (South Africa)

Preference will be given, but not limited to, candidates from designated groups in terms of the Employment Equity Act and our employment equity policy.