Senior Actuarial Analyst

Are you ready for the next step in your career?

Join this leading insurer as a senior actuarial analyst who will provide actuarial technical support and coach/mentor junior analysts within the Actuarial team. Use actuarial models to identify, model and monitor business problems and provide effective solutions.

Model deployment and testing

Plan and deliver systems changes.

Engage with users to identify requirements and work with the team to design solutions. 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 on profitability and policy growth. Clearly state what needs to be deployed and how testing will be done to ensure the deployment is successful.

Ensure monitoring processes are in place to measure the performance of the model/pricing. Effective tracking of various products and pricing changes and cohorts.

Actuarial Modeling

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. Ensure that there are process documents in in place to ensure that the models can be understood by external stakeholders. Ensure processes are in place to reduce the risk of incorrect modelling and support new users.

Improvement / Innovation

Identify shortcomings in existing business practices, then suggest and implement improvements while developing and delivering projects or a work stream within the organization''s change management program. Stay up to date with Business developments and develop solutions proactively with Business. Maintain continuous development/research of actuarial techniques and share insights with the team. Find an effective way to improve on efficiencies across the business.

Business Requirements Identification

Contribute and deliver in line with the product development and pricing framework.

Responsible for implementing the Actuarial control cycle; ie development, deployment and monitoring thereof. Responsible for the management of key business metrics, such as value of new business, embedded value, and profit by product line. Business requirements need to be clearly documented within the scope of use, definitions and assumptions made. Develop solutions that are in align with experienced assumptions.

Stakeholder Engagement

Identify and collaborate with internal stakeholders; such as Sales and Marketing to keep them informed and up to date with project outcomes. Partner with external stakeholders to find appropriate solutions around product development.

Maintain measurable service levels on business requests and provide feedback that speaks to the business issue observed.

Data Collection & Analysis

Use data from a wide range of sources to analyze key themes and identify possible impacts on the business. Recommendations could be technical or professional in nature.

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.

Insights and Reporting

Prepare and coordinate the completion of various data and analytics reports.

Create, present, and communicate insights and recommendations to stakeholders. Ensure monitoring is accurate and complete and regularly validated against credible data sources.

Operational Compliance

Maintain and renew a deep knowledge and understanding of the organization''s policies and procedures and of relevant regulatory codes and codes of conduct, and ensure own work adheres to required standards.

Identify, within the team, patterns of non-compliance with the organization''s policies and procedures, and with relevant regulatory codes and codes of conduct, taking appropriate action to report and resolve these and escalating issues as appropriate.

Maintain standards of integrity and professionalism as set out by the Actuarial Society of South Africa. Apply appropriate techniques in alignment with APN''s.

Building Capability

Mentor and coach staff on a technical and professional front. Assist staff to increase own capacity to automate processes. Encourage staff to leverage each others strengths, to improve the teams overall performance.

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.

Action Oriented

Takes on new opportunities and tough challenges with a sense of urgency, high energy, and enthusiasm. For example, encourages others to take timely action and take on new challenges with a can-do attitude. Secures new business opportunities.

Optimizes Work Processes

Knows the most effective and efficient processes to get things done, with a focus on continuous improvement. For example, pays close attention to a variety of metrics and benchmarks; determines both major and subtle ways to optimize processes. Swiftly resolves process breakdowns; takes steps to ensure that problems do not recur.

Manages Complexity

Makes sense of complex, high quantity, and sometimes contradictory information to effectively solve problems. For example, consistently looks at complex issues from many angles; obtains a rich and deep understanding; swiftly cuts to the core issue; skillfully separates root causes from symptoms.

Business Insight

Applies knowledge of business and the marketplace to advance the organization''s goals. For example, leverages insights to shape and drive critical initiatives. Shares industry developments with the team; helps them grasp business and industry fundamentals and understand how they contribute.

Financial Acumen

Interprets and applies key financial indicators to make better business decisions.

For example, fosters accountability for making good financial decisions; provides guidance to help the team make astute decisions. Summarizes financial performance data and explains implications for the organization.

Ensures Accountability

Holds self and others accountable to meet commitments. For example, tracks

performance and strives to remain effective, learning from both successes and failures. Readily takes on challenges or difficult tasks and has reputation for delivering on commitments.

Manages Ambiguity

Operates effectively, even when things are not certain or the way forward is not clear. For example, embraces change, staying focused, positive, and effective.

Addresses problems without clear solutions, making substantial progress.

Communicates Effectively

Develops and delivers multi-mode communications that convey a clear understanding of the unique needs of different audiences. For example, disseminates knowledge, insights, and updates in a polished, precise, and compelling manner. Demonstrates a deep interest in others'' comments. Creates rich documents and reports.

Collaborates

Builds partnerships and works collaboratively with others to meet shared objectives. For example, enlists a range of stakeholders to add value; ensures they are well informed and surprises are avoided. Confronts and challenges "us vs. them"; shows strong appreciation for others'' efforts toward shared goals.

Persuades

Uses compelling arguments to gain the support and commitment of others. For example, positions and packages ideas so that they will resonate strongly with a wide variety of stakeholders. Uses strong logic and compelling evidence. Works with others to find creative win-win solutions; achieves consensus through compromise.

Being Resilient

Rebounds from setbacks and adversity when facing difficult situations. For example, is calm and professional in difficult situations; continues to work toward objectives. Overcomes obstacles without becoming discouraged; draws lessons from failures. Recovers from setbacks and adversity.

Uses comprehensive knowledge and skill and guide and train others to develop financial and economic models for planning and monitoring purposes.

Provide technical guidance when required to develop appropriate plans or perform necessary actions based on recommendations and requirements.

Uses an understanding of numerical concepts to perform mathematical operations such as report analysis without supervision and provides technical guidance when required.

Strong background in mathematics and statistics.

Works independently and provides guidance and training to others on analyzing data trends for use in reports to help guide decision making.

Apply concepts of knowledge / skill and able to provide technical guidance when required.

Works without supervision and provides technical guidance when required on creating relevant, lucid and effective reports.

Works without supervision and provides technical guidance when required on using appropriate analytical processes and procedures.

Works at an advanced level to extract patterns from large amounts of data.

Typically works independently and provides guidance.

Applies comprehensive knowledge and skills to work independently while providing guidance and training to others on acquiring, organizing, protecting and processing data to fulfill business objectives.

Independently supports 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

Prophet.

Applies concepts of knowledge / skill to be attentive to details.

Works without supervision and provides technical guidance when required on achieving full compliance with applicable rules and regulations in management and/or operations.

Actuarial Society of South Africa.

Negotiates to help the organization by obtaining consensus between two or more internal or external parties who may have different interests.

Use clear and effective verbal and written communications and provide technical guidance when required to express ideas, request actions and formulate plans or policies.

Communicate with other people and provide technical guidance when required to speak in a clear, concise and compelling manner.

Plan, organize, prioritize and oversee activities to efficiently meet business objectives.

General Education

Bachelors degree in Actuarial Science or similar

Making good progress toward Actuarial qualification

General Experience

3 or more years Actuarial work experience in financial services

Experience in long term insurance industry (Advantageous)

Prophet experience (Advantageous)