Junior Actuarial Manager

SUMMARY:
Junior Actuarial Manager

POSITION INFO:

JUNIOR ACTUARIAL MANAGER

Sandton

JOB PURPOSE Manage a team of Actuarial Analysts that support the Business goals as set out by senior management by effectively modelling and monitoring business

Actuarial solutions. This team will care take all short term brands, products

and distribution channels.

RESPONSIBILITIES

Business Requirements Identification

Elicit complex business requirements using a variety of methods such as

interviews, document analysis, workshops, and workflow analysis to express the

requirements in terms of target user roles and goals.

The effective management of pricing development, deployment and monitoring

over all STI brands, products, and distribution channels. Responsible for the

management of key business metrics.

Stakeholder Engagement

Identify, manage and collaborate with internal (Actuarial) and external

(Business) stakeholders.

Actuarial Modeling

Translate business objectives into clearly defined business cases, costs, and

schedules to support growth in the business.

Develop, maintain and implement actuarial models and processes. Models need

to be fit for purpose and able to estimate the reality accurately. Models (and any

form of estimation) to clearly documented with the scope of use, definitions,

data, and assumptions made.

Data Collection & Analysis

Use data from a wide range of sources to analyze key themes and identify

possible impacts on the business.

Extract and verify data used for actuarial models.

Data/information to be reconciled against credible data sources (for example

financials) to ensure the data is complete and accurate. Ensure definitions and

assumptions are aligned to the problem statement.

Model deployment and testing

Effective impact and sensitivity analysis to be performed before any deployment

is done.

Translate results from the impact/sensitivity analysis to Business, to provide

insight and what various pricing changes will mean to profitability and policy

growth within all brands and distribution channels.

Maintain and develop documentation on model/pricing and clearly state what

needs to be deployed and how testing will be done to ensure the deployment is

successful.

Ensure monitoring process are in place to measure the performance of the

model/pricing.

Insights and Reporting

Contribute to the design and creation of reporting strategies and templates.

Lead execution of complex reports, identifying and interpreting complex patterns

and trends, and translating those insights into actionable recommendations.

Create, present, and communicate high-impact data and analytics insights and

recommendations to critical internal and external stakeholders.

Leadership and Direction

Communicate the actions needed to implement the function''s strategy and

business plan within the team

Performance Management

Manage and report on the performance of a substantial, diverse team; set

appropriate performance objectives for direct reports or project / account team

members

Improvement / Innovation

Identify shortcomings in existing business practices

Operational Compliance

Monitor and review performance and behaviors within area of responsibility to

identify and resolve non-compliance with the organization/actuarial profession

policies and relevant regulatory codes and codes of conduct. Maintain standards

of integrity and professionalism as set out by the Actuarial Society of South

Africa.

SKILLS

Computer skills

Support business processes with comprehensive understanding and effective

use of standard office equipment and standard software packages, while also

providing guidance and training to others.

Actuarial and statistical software; Advanced Microsoft Office..

Modelling

Use comprehensive knowledge and guide and train others to develop financial

and economic models for planning and monitoring purposes.

Data Collection and analysis

Data mining

Data Management

EDUCATION

Bachelors / Honours degree in Actuarial Science or similar (Essential); Qualified

or making good progression toward Actuarial qualification (Essential)

EXPERIENCE

4 or more years actuarial experience within a Short-Term insurance environment

(Essential)

1 - 3 years experience of planning and managing resources to deliver

predetermined objectives as specified by more senior managers (Essential) 

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