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ROAD ACCIDENT FUND (RAF)
 
The Road Accident Fund’s mission is to provide appropriate cover to all road users within the borders of South Africa; to rehabilitate and compensate persons injured as a result of motor vehicle accidents in a timely and caring manner; and to actively promote safe use of our roads
 
The Organization requires the services of qualified individuals within its Head Office for the following position:-
 
THIS IS AN INTERNAL AND EXTERNAL ADVERTISEMENT
 
SENIOR ANALYST: ACTUARIAL CLAIMS ADMINISTRATION: T.A.S.K LEVEL 14 X6
09042021SAA
LOCATION: Centurion
CLOSING DATE & TIME: 9/15/2021 11:55 PM
 
Purpose of the Job: Reporting to the Manager: Actuarial Claims Administration, the successful incumbent will be responsible to provide support to the Manager in providing effective and efficient actuarial services to the RAF business.
 
 
Key Performance Areas
Implement the Loss of Income Calculation and Determination Models
§ Implement and participate in the review of loss of Income calculation models.
§ Run model and report on results.
§ Provide calculation valuation report to the Manager.
 
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.
§ Conduct research on factors and statistics relevant for accurate loss of income determination.
 
Actuarial Expert Advice to the Internal and External Stakeholders
§ Assist with interpretation of legal, medical and other information relevant for calculation 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
§ Provide support to the claims administration team with developing reporting matrices and identifying risk management strategies that can be used in managing claims risks.
 
Coordinate Monthly Claims Statistics for Regional Operations and Management
· Extract data and data reports from IT claim systems.
· Consolidate actuarial monthly reports.
 
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.
· Produce appropriate reports for different relevant users of investigation results.
 
People Management
· Facilitate work processes and work schedules that are designed to render an effective and timely query resolution.
· Facilitate regular team meetings to ensure maintenance of the crucial interface between management and staff.
· Provide monthly management reports.
 
Qualifications and Experience
§ Bachelor’s Degree or Advanced Diploma @ NQF Level 7 related qualification in Actuarial Science/ Mathematics.
§ Actuarial exam passes/ exemptions will be an added advantage.
§ At least 3 - 7 years’ work experience in an Actuarial environment of which 3 years must have been in Short term or Motor Vehicle Accident.
§ One (1) year in loss of income compensation calculations will be an added advantage.
 
Technical and Behavioral competencies required
§ Strategic capability and leadership.
§ Results orientation.
§ Business and financial acumen.
§ Brand and Stakeholder orientation.
§ Organizational resilience.
§ Communication.
§ Team Resilience.
§ Network and Alliances.
§ Talent Management.
§ Change Management.
§ 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.
 
Road Accident Fund Values
· Integrity
· Compassion
· Accountability
· Respect
· Excellence
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Remuneration
Total cost to company applicable to this position is minimum R668 907.00 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: 15 September 2021
 
Applications can be forwarded to the Recruitment Officer at Eco Glades; email address is Patiencem.recruitment@raf.co.za
 
INSTRUCTION TO PROSPECTIVE APPLICANTS
1. Indicate the name and the reference number for the position you are applying for on the subject line
2. Do not submit copies of qualifications and ID as these will be requested from shortlisted candidates on the interview date
3. Submit a short CV with a maximum of 5 pages
4. Please indicate your current salary and salary expectations if considered for the position.
 
NB:
The Road Accident Fund subscribes to the principles of employment equity and preference will be given to People with Disabilities.
· Applicants who have not received any correspondence from us within six weeks from the closing date can consider themselves unsuccessful
· Security Vetting shall be conducted on all prospective employees
· It is the applicants’ responsibility to have foreign qualification evaluated by the South African Qualification Authority (SAQA) and to provide proof of such evaluation.