Senior Actuarial Analyst | Johannesburg

Provide actuarial technical support and coach/mentor junior analysts within the STI Corporate
Actuarial team. Regularly produce reserve estimates using commonly used reserving methods, monitor reserve development experience, and assist with quarterly and annual regulatory solvency reporting.

available.Extract claims data on a monthly basis to
monitor reserve development and perform monitoring investigations to explain deviations. With
trends observed, set assumptions and calculate reserves on a semi-annual basis that will be
presented to Business, Audit and other external parties for approval. Validate financial information
received and transform it for the solvency models. Using financial information and other extracted
data, calculate solvency position and populate regulatory returns. Review changes in data used in
solvency models to explain changes in solvency results. Report and present on solvency results to
internal and external stakeholders.

Stakeholder Engagement
Collaborate with internal (Actuarial) and external (Business) stakeholders. Keep stakeholders
informed and up to date with project/analysis delivery and provide clear and concise feedback to
stakeholders. Maintain measurable service levels on business requests and provide feedback that
speaks to the business issue observed. Be on time and prepared for meetings with Business.

Data Collection and Analysis
Use data from a wide range of sources to analyse key themes and identify possible impacts on the
business. Extract and verify data (largely using SAS ) used for actuarial modelsreserving and
regulatory reporting work. Build data specifications or templates where data may be needed from
external parties. 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. Before data is used for analysis / modelling, review and acquire
the required signed-off from the Technical Manager.

Actuarial Modelling
Develop, maintain and implement actuarial models and processes. Models to be fit for purpose and
able to estimate the reality accurately. Models (and any form of estimation) to be clearly
documented with the scope of use, definitions, data, and assumptions made. Regularly monitor
reserving models to ensure model performance and that they are communicated back to the
business. Before Models are used for estimation within the Business, the Senior Actuarial Analyst
should review and acquire signed-off.

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
Translate the monitoring results so they can be understood by Business. Engage different
stakeholders within the business to explain monitoring resultsProvide an ecosystem where data and
data analysis is nimble and easy to access by any team member. Provide insights from monitoring to
inform the Business of future modelling .Ensure monitoring is accurate and complete and regularly
validated against credible data sources. Review of results on a regular basis and ready to be
presented to the Actuarial Management level.

Improvement / Innovation
Review existing operations in own area of work and implement innovation processes to generate
new ideas and ensure continuous improvements are delivered. Stay up to date with Business
developments and develop solutions proactively within Business. Ensure data processes are
continuously maintained and kept up to date. Continuous development/research of modelling
techniques and feature engineering to improve model estimates.

Leadership and Direction
Explain the local action plan to support team members in their understanding of what needs to be
done and how this relates to the broader business plan and the organization's strategy, mission and
vision; motivate people to achieve local business goals.

Performance Management
Respond to personal objectives and use performance management systems to improve personal
performance. OR Monitor the performance of the team; allocate work and review completion, take

appropriate corrective action to ensure timeliness and quality; contribute to formal individual
performance management and appraisal. Manage the development of pipelines and succession
planning as well as performance scoring and management. This includes the setup of performance
contracts and personal development.

Operational Compliance
Identify, within the team, instances of non-compliance with the organisation/ actuarial policies and
procedures and/ or relevant regulatory codes and codes of conduct, reporting these and escalating
issues appropriately. Maintain standards of integrity and professionalism as set out by the Actuarial
Society of South Africa.

Building Capability
Mentor and coach staff on a technical and professional front. Mentor and coach staff to develop
data analysis, aggregation and cleaning skills and how to develop models and the review thereof.

General Education
Bachelors / Honours degree in Actuarial Science or similar (Essential);
Qualified or making good progression toward Actuarial qualification (Essential)

General Experience
42 or more years actuarial experience within a Short-Term insurance environment (Essential),
preferably in the Corporate Actuarial environment

Managerial Experience
1 or more years experience in general supervision of more junior colleagues (Essential)