Actuarial Specialist

Position Purpose:

The purpose of this role is to perform actuarial product development tasks as well as product and risk management of all retail risk and savings products for a number of African subsidiaries. The incumbent will form part of the team responsible for:

  • Product design
  • Setting the risk management framework
  • Product pricing
  • Maintaining existing products
  • Ensuring that product remain competitive, relevant and meets profitability targets

 

Experience & Qualifications:

  • Matric
  • Relevant degree
  • Good progress with the Core Technical subjects
  • 2-3 Year’s work experience, preferably in product development.
  • Experience in the following will be advantages:
    • Moses
    • Prophet
    • SQL
    • VBA
  • Proficient in MS Office Packages (MS Outlook, MS Word, MS PowerPoint, MS Excel)

 

Responsibilities:

  • Contributing to the delivery of innovative, value-for-money products to the market through the development, pricing and design of new products.
  • Ensuring ongoing competitiveness and attractiveness of the individual life risk product range both from a product and pricing perspective.
  • Delivering efficient and consistent service and support to all internal and external clients, hence ensuring a quality interaction and relationship with all stakeholders.
  • Collaboration with all the other relevant stakeholders (internal and external) such as valuations, claims, underwriting, and reinsurance partners etc.
  • Understanding and using actuarial models both in terms of the regulatory and commercial environment.
  • Contributing towards projects, initiatives, queries and team initiatives.
  • Living the company values namely Accountability, Diversity, Excellence, Integrity, Innovation and Teamwork.
  • Investigating, proposing and obtaining approval for the proposed product range changes
  • Driving and controlling successful implementation of product suite initiatives through to delivery including:
  • Provide useful product and market insights to the segment businesses
  • Benefit design, basis setting and pricing
  • Close liaison and input into underwriting, enrolment and claims departments
  • Setting up of all administration, systems, legal and other required processes to deliver the product to market
  • Developing a close working relationship with the key distribution channels to ensure buy in to all products initiatives
  • Providing technical input and oversight of the product specific aspects contained in Client Facing Documents e.g. the User Guide and Contract.
  • Ongoing monitoring and maintenance on each of the products in the range including:
  • Monitoring sales volumes and experience in order to propose corrective actions and identify opportunities;
  • Special quotes and queries;
  • Building relationships and interacting with other disciplines in the organization to ensure proactive management actions are taken
  • Underwriting (including claims), Valuation and Investment management;
  • Applying health insights in mortality and morbidity to improve client value as well as the profitability of Client Value Propositions.

 

Competencies:

  • Achievement orientation;
  • High degree of self-motivation and can work independent of supervision
  • Delivering results & Meeting Customer Expectations
  • Working with people and relationship building
  • Analytical and conceptual thinking;
  • Proactive

 

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