Road Accident Fund (RAF) Vacancies – June 2021

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Purpose of the Job: Reporting to the Manager: Actuarial Claims Administration, the successful incumbent will be responsible for rendering effective and efficient actuarial services to the RAF business.

Key Performance Areas

Implement the Loss of Income Calculation and Determination Models

• Demonstrate understanding of the principal elements in the actuarial basis of income valuations such as mortality, interest, contingencies, earnings progression and taxation.

  Research on Calculation Methodologies

• Assist with research on loss of Income calculation methodologies that ensure determination of fair, reasonable and equitable compensation for victims of road accidents.
• Assist with research on factors and statistics that are more relevant for accurate determination of loss of income compensation.

   Accident Data Management and Forecasting

• Assist in accident data capturing, analysis and reporting from different sources.
• Implement models to forecast the number of accidents and claims.

  Claims Risk Management

• Assist the claims administration team with developing reporting matrices and identifying risk management strategies that can be used in managing claims risks.

  Assist with Monthly Claims Statistics for Regional Operations and Management

• Extract data and data reports from IT claim systems.
• Assist with report compilations as and when required.

  Conduct Actuarial Investigation

• Investigate the potential impact of various assumptions underlying loss of income calculations such as discount rates, mortality and morbidity rates, contingencies, earning progression, inflation. Taxation, remarriage, inheritance and accelerated benefits, etc.
• Conduct statistical and regression analysis.

   Qualifications and Experience

• Bachelor’s Degree or Advanced Diploma @ NQF Level 7 related qualification in Actuarial Science/ Mathematics.
• Relevant 2 – 4 years’ experience in an Actuarial environment.
• One (1) year in Short-term or Motor Vehicle Accident will be an added advantage.

Technical and behavioral competencies required

• Organizational resilience.
• Team Resilience.
• Personal mastery.
• Judgment and decision making.
• Emotional wisdom.
• Ethics and governance.
• Customer orientation and customer focus.
• Excellent verbal and written communication skills.
• Strong Microsoft Excel, Access and MS Word skills.
• Complex problem identification, solving and decision making.
• Sound actuarial judgment.
• Strong technical background in reserving/ valuations.
• Independent and creative analysis of business results.
• Excellent analytical, problem solving and data manipulation skills.

Remuneration

Total cost to company applicable to this position is minimum R502 953.00 per annum, negotiable.

NB: “RAF offers Total Employment Cost packages with no additional contributions from the Employer, successful candidates are required to structure their packages in a manner that will suit their needs”.

Closing date: 08 June 2021

Applications can be forwarded to the Recruitment Officer at Eco Glades; email address is [email protected] OR hand delivered at 420 Witch-Hazel Avenue, Eco Glades 2, Centurion.