2012 - 2013 | Aon Zimbabwe
I worked in Aon's actuarial division: Q.E.D Actuaries and Consultants performing extensive work on pension fund valuations, investment strategy formulation and de-risking. My line of work included performing valuations on funeral funds and actuarial predictive modeling in life, pensions and liquidity analytics.
2014 - date | Bluecroft Actuarial Solutions
Head of ERM Solutions
I lead an impressive team of actuarial trainees and my main mandate is to help financial and non financial entities to better manage the risks to which they face on a day to day basis. ERM is virtually unknown to many Zimbabwean organisations but that is changing with the launch of the Bluecroft Risk Institute (BRI). My team provides vital analytical support to strengthen our clients' CRF functions.
2010 - 2014 | Bcomm (Hons) Actuarial Science
The IFoA is the United Kingdom Actuarial Professional body which sets international exams for actuarial candidates around the world. The highest actuarial qualification is the Fellow status and this is attained after passing 15 exams. My immediate goal is to attain the coveted status of Chartered Enterprise Risk Actuary (CERA) to which I am left with 1 exam. There are only 2,700 CERA's worldwide!
2013: Attained Diploma in Actuarial Techniques (DAT)
2014: Attained Certificate in Finance and Investments (CFI)
Exams passed to date: 12
MS Excel + VBA 90%
R - Statistical Analysis 75%
MS Access + DB design 83%
Adobe Indesign 80%
The most important skill a consultant should have is that of being able to learn. Every company/client is unique thus requiring the consultant to first learn the intricacies of the clients' operations in order to prescribe the most appropriate advice.
Below are my key software competencies:
The following are the main projects and research undertakings that I am currently pursuing outside my day to day duties at Bluecroft
Bluecroft Risk Institute
Occupational Safety and Health
Time Series Analyses of Road Accidents
Financial Gazette - Actuarial Lense Column
In May of 2014, I started a blog on Wordpress to publish my actuarial articles and to comment on matters occurring on the local and international financial and economic landscape.
This blog has received readership from over 40 countries worldwide, with the most readers based in Zimbabwe and the UK. The background map shows the latest 'heatmap' of our readership.
I later realised that there is a general need for a platform for actuarial candidates and other professionals to publish their articles and research. Actuarial Lense has since began a radical transformation into a platform for fellow actuaries and students in the region to publish their research.
In the coming months, I hope to facilitate debates at local universities to discuss the research articles
Actuarial Lense : See the world through the eyes of an actuary!
Being the Head of Enterprise Risk Management solutions at Bluecroft, I know from first hand experience the industry perception when it comes to implementing ERM. The tenets of ERM are not fully understood in both the financial and non-financial workplace. Moreover, local university students are not aware of the employment prospects that ERM presents.
Thanks to generous donations from Bluecroft Actuarial Solutions, we have formed the Bluecroft Risk Institute whose main purpose is to spread the gospel of ERM. BRI will serve as a bridge between university students and companies by allowing BRI student members the opportunity to carry out real world case studies, risk analyses and ERM implementation.
Our goal is to work with local universities, companies and ERM experts in creating an enabling environment for the proliferation of ERM in the industry and also raise awareness of the employment roles that stem from ERM.
Bluecroft Risk Institute: A center of Enterprise Risk Management innovation
Occupational Safety and Health is an important subject that every employer needs to be aware of. People spend quite a long time at the workplace, meaning that the work environment must be one that promotes good health.
Working with Rumbidzai Guruva, we have decided to look at the issue of OSH from an actuarial and
ERM perspective. We are using actuarial techniques to determine ways to fund for OSH liabilities in advance be it via insurance or self-funded arrangements.
We are also looking at how OSH should be embedded within an organisation's ERM initiatives.
Occupational Safety and Health (OSH)
Actuaries, Accountants, Financial Advisors and other professionals literally hold the lives of people in their hands. The decisions we make affect the financial well-being of individuals for the rest of their lives and even their descendants. Because of this, we have to undertake rigorous professional qualifications and even after this, we are required to undergo Continuing Professional Development (CPD).
Pension fund Trustees also hold the lives of fund beneficiaries in their hands. One might argue that since trustees delegate the day to day running of the pension fund to other professionals, they do not need to undergo training. I beg to differ. I believe that trustees need to be equipped to better manage the people to which they delegate their duties and responsibilities to.
This is why I have championed a Bluecroft sponsored initiative to develop a comprehensive trustee curriculum that can be utilised by experienced and novice trustees alike.
Trustee education in the post dollarisation era.
There were a total of 37,619 accidents recorded in the year 2013 and this increased by 9% to 41,016 in 2014. I recently commenced a study into the trend in road accidents on Zimbabwean roads by using Time Series regression analysis to study any correlations or cause effect relations that can better explain the carnage on our roads.
My research will not only shed more light on how we can craft better policies to make our roads safe, but also to help insurers and reinsurers alike on the non-uniformity of road accident rates with time and geographical location.
Time series analyses of road accidents
You can catch my articles on the Financial Gazette website every week. I use that platform to discuss economic issues from an actuarial point of view.
I am also the current editor of the Actuarial Lense monthly publication and my responsibilities include proof reading the featured articles and conducting interviews with key players in the insurance, pensions and risk management landscape. Currently, this magazine is distributed in 4 countries; Botswana, Malawi, Zambia and Zimbabwe.
The Financial Gazette
© 2015 Thomas Sithole (DAT,CFI) : A consultant with Bluecroft Actuarial Solutions
Bluecroft hosts web-pages outlining the CV's and experience of its actuarial consultants